Despite the tales of economic woe, a benchmark survey of leading British finance directors shows the majority of firms are weathering the storm and determined to come out the other side. Although there is much talk of redundancies, only a fifth of firms sampled by the Chartered Institute of Management Accountants (CIMA) have reduced their workforce in the past year. Three quarters also predict headcount will stay the same or even grow in the next 12 months. The majority appears to be investing their way out of a recession with between 70 - 80% of firms planning to maintain or increase spending on marketing, staff training and capital expenditure.
This is certainly reassuring if you have been worried about what the future holds for you because of the economic situation. Many of us are fearing that we will either have to cut back on staff, lose our jobs or that we have no hope of having a career in the future, however despite the high profile redundancies taking place, we are actually more secure then we are lead to believe.
Here to offer advice on coping with economic downturn is Director of CIMA, Ray Perry. Whether you are an employer, an employee or a student who is unsure of his or hers future, then watch Ray's tips on how you can beat the recession and look forward to a brighter future.
Click here to see what Ray has to say.
British Business determined to Weather the Storm
Tips on how to ensure you cope during the economic downturn
