We will finish the year with December’s COP 15 Copenhagen, the United Nations Climate Change Conference, which is regarded as the final chance to address global warming. It is good that Europe is at the centre of global discussions but businesses cannot waste time and wait to hear what our leaders decree. They need to stay in business. In times of rapid change, urgent action is required.
Some economic commentators are saying that the recession is going to continue for the next couple of years. The European Economic Advisory Group forecasts a decline in GDP of 1.2% for the EU 27 countries in 2009. Should we listen to forecasters any more? Besides, the forecast GDP decline is an aggregate figure and underneath it there are a huge range of business opportunities for the active entrepreneur to create wealth and growth. So do not believe all the hype!
Think about many of today’s leading businesses, most of them started during a recession. In 2009, businesses are able to buy and resource more cheaply; they are able to improve their systems and efficiencies; and they can reprioritise their target customer markets accordingly to reflect changing circumstances.
We are hearing a lot of different viewpoints about the pace and scale of the recession and many people are hesitantly waiting for the bottom of the market to appear. The clever ones are taking action now. Europe is still open for business and it is still a great place for successful FDI. Fortune favours the bold!
Douglas Clark is director of Tenon techlocate, a site search and location marketing consultancy, which is part of the Tenon Group plc, a top 10 firm of accountants and business advisers.