11 July 2008

Economic Forum – There is only Opportunity

Over 330 key players from the South East region’s business community attended the highly successful Fourth Annual Hart Brown Economic Forum.

The event was held at the University of Surrey and presented by Hart Brown solicitors in conjunction with UniS, Barclays Commercial and the South East England Development Agency (SEEDA).

A timely economic assessment was provided by eminent speakers, experienced in the UK economy which included the Market Analysis Director and Chief Economist at Barclays UK Banking, Dr Richard Roberts; the Shadow Minister for the Treasury, Mark Hoban and the Director of Investment at PFP Wealth Management, Tim Price.

Dr Richard Roberts said, “Things are difficult and will get worse at the very least until mid 2009 in the housing market, construction and property; retail and consumer spending; Business to Consumer services and manufacturing.” On a slightly more positive note he said, “ Whilst we are in a period of below-trend economic growth, the consensus view is that a recession will be avoided even though it may not feel like it.”

Mark Hoban was critical of the Government’s failure to prepare the economy for difficult times. He said, “The changes needed to bring about greater opportunities in our economy include a reform of the UK tax system; a framework to incentivise businesses to both invest in – and remain in – the UK; a focus on improving our ailing manufacturing sector; a curb on growth in public spending and better regulation and control of the financial services sector.”

Tim Price, Director of Investment for PFP Wealth Management, added, “Happily there IS opportunity amid the gloom, but investors will have to work that much harder to exploit it. I suspect that we will continue to see the rise of so-called alternative assets (notably hedge funds).”

The speakers also pointed to opportunities in emerging markets like Brazil, Russia, India and China and advised businesses to focus on providing high-value, quality brands and to look long term. Opportunities in outsourcing were also highlighted.

The Fifth Annual Hart Brown Economic Forum will take place on Wednesday 24 June 2009, again at the University of Surrey. Giles Keating, Chair of Global Economics at Credit Suisse, will be the keynote speaker and Dr Vince Cable has also kindly agreed to speak.

To register your interest for the next Economic Forum in 2009, please email Hart Brown at Virginia Cook or call 01483 887780.