Cloud 4 Computers MD Phil Donoghue recently attended a Round Table discussion on SME’s and the Economy.
Speaking at the event was IoD Chief Economist Graeme Leach who spoke about the flat-lining UK economy, and why L shaped recoveries are the norm in the wake of a financial crisis, due to the weakness of the banking system, de-leveraging and anaemic growth in the money supply.
He also discussed the euro crisis and how massive bond purchases by the ECB could be the long awaited game changer, if fully implemented. There is however much uncertainty around implementation, given the reluctance of the peripheral economies to sign up to more austerity, as the price of ECB action.
Phil Donoghue, Managing Director of Cloud 4 Computers says:
“It was a privilege to be involved at the Mohindra Maini event and I must extend my thanks to Sunil and Meera Mohindra for their hospitality. I thought Graeme Leach’s thoughts on the current state of the UK and European economies gave us a real insight into the current issues we are facing. In addition his ideas about the measures needed to improve the speed of recovery and economic growth were both practical and realistic, in a way politicians should take note of.”
The Cloud and SME’s are leading the way to growth.
It’s not all bad out there though, there are some industries which are growing due to and despite the current economic flat-lining. One notable area is IT hosting, or Cloud Computing as it’s become known. This offers businesses some great commercial and operational advantages which all them not only to cut costs, but to compete better through IT performance gains. It’s just one of the ways innovative businesses are adapting to the changing face of business and moving forward regardless of economic trends.