The economic downturn has provided a catalyst for business growth in the UK, according to 'The Future of Business 2011’, a report from HSBC Commercial Banking which investigates how the changes of the last two years have impacted on how British business will be known in the future.
The report predicts a renaissance of Britain’s manufacturing hey-day, particularly in the Midlands and the North East, but harnessing technological updates, making the UK known for prototyping, plastronics and advanced composites. It pinpoints a rising trend for so-called ‘tradicals’, businesses that are reshaping the crafts industry by taking traditional skills and radically remodelling them for new and emerging markets. The report also identifies the ‘super-cities’ of the coming decade, with Bristol and Glasgow added to the existing rising-stars; Newcastle, Leeds, Brighton and Liverpool, with each super-city predicted to become a key driver for business in the area, specialising in distinctive growth industries and innovations.
Jacques Emmanuel Blanchet, Head of HSBC commercial banking UK, says: “Out of recessions come new trends and this report crystallises how adaptable entrepreneurs and small businesses are shaping a new business landscape that British business is set to follow. The emergence of two new super-cities and business specialisms developing across every region of the UK demonstrate the breadth of business ambition and advances being made,’ adds Blanchet.
Gareth Osborne of APA said: “This remains a challenging time for British businesses and change is definitely on the cards. With 62 per cent of business leaders believing that the ‘new’ Britain will increasingly stand for innovation and entrepreneurship it is evident that in a decade’s time we will have seen a redrawing of the industrial map of the UK.”
APA
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