Goodbye 2009. You've been hard work!
It has undeniably been tough. The combined impact of the worldwide recession and the banking crisis has created a very different business environment to the one we'd got used to. Regrettably Gordon Brown's promise of "no return to boom and bust" rings a little hollow now.
But what have we seen at Morris Owen during the year?
To be honest it's been a bit of a mixed picture. Some businesses have thrived in the conditions, particularly those with niche markets; whilst others have found the going very difficult. One common factor we have seen has been a real drive for increased efficiencies and strong budgetary control over costs.
Looking back though 2009 has unquestionably been a good year for the firm. Our recognition and accreditation by Beacon South West as being a forward thinking and innovative firm is something of which that everyone at Morris Owen can be justifiably proud.
Once again our staff have been amazing in their attitude and commitment to deliver exceptional client service. Despite the tough economic conditions the atmosphere in the office has been incredibly upbeat and good humoured and I know all my fellow partners join me in saying a very big "thank you" to all of you for your hard work and effort.
So what does 2010 hold? I don't know but I suspect more of the same. The management of the macro economy will be vital. Recovery will be slow and inflationary pressures will begin to intrude. Critical will be the Bank of England holding their nerve and not choking off the recovery by prematurely hiking base rates.
I regret that as we do climb out of the recession we are likely to see an increase in business failures, as we did in the early 90s. The banks' attitude to lending and the Government's payment support scheme will prove crucial here. But solid well run businesses will continue to flourish as they always do whatever the economic environment. So let's look forward to the challenges ahead with optimism.
In closing; on behalf of all the partners at Morris Owen, let me say all our friends, be they staff, clients or contacts thank you for you support and introductions during 2009. We look forward to working with you in 2010 and as it looms I wish you all a happy, prosperous, and most importantly, healthy new year.
This article originally appeared in the Swindon Advertiser on the 23 December 2009
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