Exploring the threats to small and medium sized businesses in the UK. What are the biggest threats to SMEs? How do you manage business risks better?
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Main Threats To Growth In UK
A Lloyds Bank report says that business leaders think the main threat to their business growth is economic uncertainty followed by a drop in demand for their products or services.
The Brexit vote in June and the uncertainty caused by the presidential election in America are perhaps the two known uncertainties managers have to deal with right now. Both create economic uncertainty but they also create opportunities for growth.
The UK economy has not fallen off a cliff like the doom mongers threatened prior to the Brexit vote. In fact the low value of the pound has boosted exports, property prices excluding London and a couple of other areas have bounced higher unemployment is at record lows and the hard statistics for generally good for the economy in the UK. The main threat is fear of economic downturn. The only thing to fear is fear itself. Negative sentiment is the fuel of people who wanted to remain in the European Union EU despite the Brexit vote.
People in the UK have had their say regarding Brexit. Now is the time to work together to make Brexit work well for the UK. Constantly promoting fear of Brexit will promote slower growth and perhaps even a recession. Constantly looking for new opportunities from Brexit will promote faster UK growth.
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Cheeringupinfo Threats To SMEs