Businesses optimistic about the future - report
East Midlands firms have “a degree of optimism” about their own commercial future despite major concerns about the prospects for the UK economy. That’s according to a report by the Chartered Institute of Management Accountants (CIMA) at the University of Leicester.
The report, compiled by Nottingham Business School and funded by CIMA, was concerned with the strategic responses made by a sample of businesses largely from the East Midlands in response to the stringent economic conditions resulting from the recession.
All of the companies included in the report said they felt that product innovation was “important as part of their business strategy”, which in turn gave them confidence in their ability to thrive despite their continued doubts about the economy.
Glynn Lowth, past president of CIMA and one of the joint authors of the report, said: "These companies have responded strategically to the impact of economic recession and so are optimistic about their own future and their ability to deal with problems that might occur in the years ahead.
“They recognise that in the 'good times' prior to recession there was some degree of loss of focus on certain aspects of management and financial management but they have taken action to alleviate these problems allowing them to focus their business on what’s important and beat the recession.”
