Hi
As a post script to yesterday's Sunday Supplement, if you needed any more evidence that corporatism is holding the UK economy back, this morning Deloittes released their Q3 CFO survey results which says:
"Large corporates are pulling in their horns, with just 12% of CFOs
saying now is good time to take risk. CFOs say Britain’s departure from the EU is likely to act as a drag on their spending decisions. 44% of respondents expect their own capital spending to be lower over the next three years as a result of Brexit; half expect hiring to be lower. CFOs have become much more defensive in the way they run their balance sheets, continuing a trend underway since early 2017. Cost reduction is the top corporate priority and CFOs are more focussed on reducing
costs than at any time in the last eight years."
Surveys like these are taken by those in power as being the views of business rather than what in fact they are the views of the managers who run large corporates and are risk averse and largely self interested.
Now is a time of huge
opportunity for entrepreneurial businesses; while corporates are looking inwards, your - and their customers - are crying out for your products and services.
Which way are you looking? Success is not for the timid.
To your success
Noel Guilford