Ifran Pandor sounds a word of caution on the state of the UK economy and its impact on the security market
Lloyds and RBS are about to sell 1000+ of their branches in Britain. HSBC has just announced hundreds of job cuts in Britain . The Government is claiming that banks are lending today but confidence and credibility is at a low point in British businesses. The opposition is asking if it is worth doing it for taxpayers money. There are arguments and opinions on whether the recession is going to be over soon or if Britain is heading for an even bigger crisis. Even for the USA, it is very clear that a revival from the recession doesn’t mean that the glory days are going to be back very soon. Unless jobs are created and many fundamental signs of economic recovery are seen, we should not feel that we have recovered as President Obama says.
Alan Hyder in ’’ Time running out for failing installation firms’’, Security Installer, November 2009 mentioned that about 225 security systems companies are about to fail before the recovery starts in the UK. Scepticism and Cynicism are endemic today when it comes to government policies and plans for recovery, and clear divisions in the academic and intellectual world over these issues are visible not only in the USA and the UK but also across the globe.
Although not all industries have suffered in the downturn, it is no longer advisable to assume that for major corporate projects in B2B market, [e.g. Security Systems Market ] money will be readily available. Many companies have done really well in different sectors and even a number of ‘’reputed’’ banks have reported enormous profits recently. Companies such as retailers Marks & Spencer and Next are also doing well, but it is not wise to think that the economy is back on track.
Ifran Pandor is a member of the Linkedin CCTV Group, please view his Linkedin profile here.
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