Wednesday, 21 October 2009

Living in a recession

Illustration by Claudia McGehee.

We are all in a very strange situation at present. We currently sit in the middle of a recession where all around us budgets are being cut funding is disappearing and businesses are contracting. On top of this we have the added unknown of a potential new Government and changes in policy.

For business all of this presents a new set of challenges. We have to try and second guess what a new Government may do and how we can plan a strategy around this. Many of the plans we are making are based upon how we operate today. However in less than a year the Government could very quickly implement new policies which would affect everything we do. You only have to look at the change of policy by the Learning and Skills Council to see the massive impact that this had on the construction industry in such a short space of time.

A counter to this uncertainty is the amount of opportunity which appears during such times. Companies looking at joint ventures or working together are on the increase. Markets which were previously saturated now provide opportunity. Even recruitment is providing opportunity. Over the last 10 years one of the greatest challenges to our business has been in recruitment for our needs. Now we find incredibly talented people working in warehouses or maintaining gardens.

Recession is just another business challenge where risk and opportunity have to be balanced for long term sustainability.

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