26 central south report 2011 and beyond
The recession may be behind us but as we start looking to the future, things have definitely changed, according to Kim Hayward, international liasion partner for BDO in the UK, based in Southampton
“We are seeing a fundamental shift of economic power. Although the financial crisis and subsequent recession were described in the UK as a global phenomenon they weren’t really, they mainly affected Europe and North America. Economies in some other parts of the world were scarcely inconvenienced. While the British economy still bumps along the bottom, Brazil will grow by 5% this year according to the IMF, and Asia by 6%.
“It’s not news to say that China is booming. Its GDP is expected to surpass that of the US by 2020. Moreover by 2030, former World Bank president John Wolfensohn told Stanford Business School in January this year, two-thirds of the world’s middle-class people will be Chinese.“
The good news is, as we have already noted, ambitious companies are looking to take advantage of the opportunities offered globally but management need to be willing to invest the time and money needed to expand overseas and seek advice when required.
“Business leaders need to look at the world with fresh eyes and not be tempted just to focus on the quicker and easier wins to be found in the Eurozone and the countries with fewer perceived barriers,“ he adds.
We have every reason to be cautiously optimistic at global, national and local levels. English is the international language of business and science. Geographically the UK is half way between Asia and America. Philosophically you could argue that we are half way between Europe and America! The Central South is strong in many of the industry sectors the new government is making its highest priority including advanced manufacturing, digital and creative, healthcare and lifescienes. These play into the technology skill sets of our major local businesses and the strengths of our local universities.
With political unrest and natural disasters adding further uncertainty to the world economy, the trend for 2011 is likely to be the same as last year and next: “Business will be harder, take longer and for less gain“ but as Hayward concludes: “We entered 2010 hoping for the best and not quite expecting the worst. We got through it and 2011 and beyond provides a real opportunity for us locally and nationally to adapt to the new world order and take advantage of what is available to us.“
Kim Hayward
To read the full report visit:
www.bdo.co.uk/centralsouthreport
THE CENTRAL SOUTH REPORT 2011OUT NOW! A REGION IN TRANSITION?
Our new look Report captures how some of the top companies in the region have achieved success during the downturn as well as the challenges and opportunities of operating in an unpredictable economic environment.
Provides a snapshot of the region’s economic health, based on the aggregated accounts of the top 150 companies in the Central South.
For more information or a copy of the report, please contact Emma Warehamon 023 8088 1753 or email
emma.wareham@bdo.co.uk
www.bdo.co.uk
BDO LLP is authorised and regulated by the Financial Services Authority to conduct investment business.
www.businessmag.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2011
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40