Wadds' tech pr blog
Thursday, March 13, 2008
  UK doom-mongers
Why are people in the UK so bloody negative?

A survey of 200 UK business people by virtual business school Pentacle has found that two thirds believe that a recession or heavy downturn is unavoidable. 70 per cent claim to have “little or no experience” in handling a downturn.

How old are these UK bosses? 12?

Those of us in the tech sector have already come through one recession this century and are leaner and better equipped to deal with any economic slowdown than ever before. The same applies to businesses for the PR industry.

A recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters. The UK economy maybe slowing, but it’s a long way from a recession.

All this negative chatter is driving the market downwards and is totally unnecessary.

We’ve had a decade of sustained, rapid growth. Economic theory states that it can’t go on inexorably. Slow downs are inevitable and provide a driver for businesses to focus on costs and innovate. That is not a bad thing.

So, rather than British businesspeople moaning, we should be coming out fighting and looking for a way to meet any challenges as and when – or even if – they come.

Quick survey via comments: do you foresee a recession in the next 12 months?

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Comments:
Yes, purely because I've been reading financial experts' opinions and they believe so too. I don't know enough to give an opinion based on market data etc.

Was the Dot-com bubble a recession? I thought the last recession in the UK was in the early 90s.

I imagine after the Dot-com bubble burst it was tough but wasn't there so much money floating around prior that people didn't know what to do with it? Someone must have got rich from it.

Thing is though, hasn't the UK gone stupid when we've got to the point where no one views their property as a home anymore but as an "investment" with Kirsti and what's his face talking about how you can add £10k to your pokey flat by knocking a wall down. Location, Location etc etc.

Is it worth having a pension these days?

The Poles are realising that they're better off back home:

http://news.bbc.co.uk/1/hi/business/7282923.stm

If I'm honest, I wouldn't mind a recession. Might bring house prices down. Bring on the crash! Markets work in cycles and it's about time things were corrected.

I admit, I'm being negative but I don't feel any benefit from the Britain that Blair and Brown has created in the last 11 years. The longer it goes on the less I feel this country has to offer me or people like me.

Phew! Feels better now. Thanks Wadds.
 
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Stephen Waddington


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I'm the managing director of Rainier PR, a tech PR firm based in London, UK, and part of Loewy. This blog is written in a personal capacity and does not necessarily reflect the views of Rainier PR.


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