In last night's show Pavlo and Bruce chatted about his recent trip to Britain and what opportunities the current environment presents. The full show can be heard here.
Not so long ago there was a strong pound, open market, great lifestyle for young people and great growth in the economy.
- GDP growth is to be revised to 1,4% over the next 12 months from 3.5% GDP at the start of 2015.
- The Currency is at 1.25 to the dollar a 26% collapse and petrol has moved from 95p to £1.19
- Small business confidence has fallen from +40 index points to -42 index points
- Imports have increased from 44Bn to 51Bn over same period
- Inflation is on the rise
Does this sound familiar? Interestingly Britain seems largely unaware that this environment is emerging.
The place was pumping, queues everywhere, they have great job numbers and the GDP growth from last month to this month increased.
But there will be change Britain can't have their cake and eat it.
So what are the opportunities?
The weak currency has provided opportunities including:
- Imports will be replaced in the local economy
- Manufactures that serve consumers
- Manufactures that serve business
- Manufactures that tie into the Original Equipment Manufacturing industries
- Exports that are service and technology based which don't attract duties.
In general, the Autumn Statement is positive for businesses
- £1.3 billion has been allocated for research and development in technology and innovation
- £2bn was allocated to infrastructure spend
There is also the stated intent to lower the UK corporate tax rate lower than the promised USA Trump rate of 15% - all very good for business.