What Does the Future Hold for UK Business?

Last month America announced that its economy had comes out of the recession. As the old saying goes; “When America sneezes, the rest of the world catches a cold.” That was the situation when the American first entered the recession and yet as it has now recovered; the same cannot be said for the economic stability of the UK. Indeed, not only is the United Kingdom still in recession, it is one of the last countries to regain any sort of financial stability.

As the UK’s leading company formation agents, we are speaking to business owners on the front line. Here, we ask them what they think future holds for 2010.

Ben Anderson, managing director of Anderson Electrics

I am not entirely optimistic about 2010. While business has improved recently – as people are getting more confident and therefore more willing to spend -the damage that has been done is still significant.

It is also impossible to get any finance to fund growth. My company has survived due to the personal financial commitment I have made.

Peter Lindbergh, founder of advertising agency Hush.

My business partner and I formed our company in the midst of the recession and people thought we were crazy- not only we were starting a business when the country was teetering on the brink of bankruptcy, we were also entering an economically contracting sector. However, we had been made redundant, the prospect of getting similar salaries in another job looked unlikely, so we thought ‘lets give it a go.’

I am not going to say it hasn’t been tough at times, but in a lot of ways the economic situation has provided us with opportunities.

I am optimistic about the future, in business you have to be.