Businesses and advisers have shared their hopes and dreams for
the coming year, in the first survey for 2012 of The University of
Nottingham's Barometer Project.
Among the hopes were solutions to some of the regular issues of
recent times - a change in the approach to lending by banks,
reductions in red tape, and changes in taxation. Economic stability
and an end to the problems experienced by the Eurozone was a wish
expressed by both businesses and advisers.
One respondent called for a change in our relationship with the
rest of Europe hoping for "a renegotiation of membership of the EU
to include a trade agreement… providing value for money
membership and real advantages for businesses."
Many respondents wanted to see greater optimism and an end to
negativity - particularly from "financial commentators predicting
disaster". This general feeling was reflected in this response by
business advisors: "The relentless focus of broadcast media
is on the negative. It is persistently reducing the confidence in
the business sector and (that of) the general public. Their
propensity to publish only the negative and the sensationalising of
the negative is reducing the confidence that is the currency of
success."
Self confidence was the key for one contributor who advocated
that companies should "get off the fence" (and have) the bravery to
launch more innovative products." As another panellist observed:
"Where there is a real consumer need innovative new brands can
still launch successfully."
The role of government was criticised by many who called on it
to take decisive action with less of what was termed "woolly
encouragement in entrepreneurship" One panellist added: "Government
(should) get behind small businesses in a concerted and meaningful
way to support, train and fund growth for the future". Business
advisers too were particularly forthright on this issue - one said:
"government (should) see the error of their ways and put some
funding into business support again, particularly for micro and
small business and the start up market." Another said the
Government should begin dealing directly with businesses and not
through the banks, which they said were having an "easy ride back
at the expense of the community."
Social media was a recurring theme for some and, in a separate
question, panellists were asked if they thought that it might have
a greater part to play in any economic revival.
The power of applications such as Twitter and FaceBook has been
evident during the recent political uprisings across the Middle
East where Twitter networks have been established across the
region. The social media revolution has led to news and events
being reported and transmitted globally seconds after they occur.
Will these social media applications be so powerful when it comes
to creating economic growth in the UK? The majority of our
panellists thought their influence would be either positive (36.5
per cent) or neutral (36.5 per cent) with a minority suggesting a
negative influence (27 per cent).
The UK Business Barometer (UKBB) and the UK Business Adviser
Barometer (UKBAB) provide a snapshot of how small and medium-sized
businesses are coping with the current state of the economy and aim
to uncover the key issues affecting the small business market.
Operating over the web means that results can be rapidly generated
and the surveys have unique software that enables results to be
processed and posted on their respective websites immediately they
arrive.