subject: Uk To Grow More Than Eurozone [print this page] London Business School recently held a panel discussion at its Regents Park campus with more than 100 prominent representatives of the countrys thought leadership and was focused on the UK economic outlook.
Thought leadership is a quality owned by individuals capable through their innovative ideas to lead change and innovation in business and to set the terms of debate in the media and in the enlightened circles. Of course there arent better people to ask an opinion on the perspectives of our economy.
As we all know we are still in the middle of the worst financial crisis since 1929 depression and its still hard to tell when we will be able to say that we are out of it. Furthermore recent turmoil in the Eurozone sparked more uncertainty and instability in the world financial market.
Among the panellist of the event entitled Balancing Britains books were present: Prof. Sir Andrew Likierman, Dean of the LBS; Michael Dyke, Managing Director of Lend Lease; Andrew Scott, Professor of Economics at LBS; Nick Baird, CEO of UKTI; Dale Murray, Angel Investor of the Year 2011 and founder of Omega Logic and Nick Farraway, Senior Vice President Head of Europe of Havells Sylvania.
From the debate hold by these prominent members of the thought leadership emerged the conviction that UK has far better perspectives of growth than the Eurozone countries.
The main driver of this growth will be the financial sector, but manufacturing businesses and nonfinancial services can play an important role in leading the country out of the crisis but major efficiency improvements are needed to make this possible.
Recently even the International Monetary Fund confirmed that there is a reacceleration of activity and that high frequency indicators point to stronger growth. It added: Growth in the UK, where the financial sector was hit hard by the global crisis, will be weak in early 2012, before recovering.
The SMEs are finding it difficult to get financed by banks and the most innovative ones heavily rely on venture capital and angel investments.
To support growth and small and medium sized companies, Nick Baird, a member of UK Trade and Investment (UKTI), brings attention on the UKs objective of reducing the trade deficit by increasing the number of UKTI exporters by 100,000 units and increase UK exports from 480 billion to 1 trillion. A very ambitious target but yet very important to the British economy.
A promising outlook for British economy emerged from this discussion between the countrys thought leadership, but we must keep in mind the importance of the structural changes needed to boost the SMEs growth.
