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Recession 'a catalyst for change' Brown pledges to sustain recovery
(about 5 hours later)
The recession has become the catalyst for a new era in business, according to a report by the CBI. UK Prime Minister Gordon Brown has pledged he will keep the country's fiscal support in place long enough to sustain the economic recovery.
In a speech to the CBI, he said the government would be careful not to abandon financial stimulus measures brought in to combat recession.
"Choking off the recovery too soon would be fatal" he said.
Mr Brown also told business leaders the UK has to be "truly competitive" to succeed in the global economy.
Key areas
It came after the CBI said the recession had become the catalyst for a new era in business.
The study by the employers' group identifies four key areas of UK business where new ways of working could develop because of the downturn.The study by the employers' group identifies four key areas of UK business where new ways of working could develop because of the downturn.
They include more flexible workforces, greater collaborations among businesses and wider financing options.They include more flexible workforces, greater collaborations among businesses and wider financing options.
"The Shape of Business - The Next 10 Years" is being launched ahead of the CBI annual conference in London later."The Shape of Business - The Next 10 Years" is being launched ahead of the CBI annual conference in London later.
'Flexiforce''Flexiforce'
The recession has raised concerns about commercial models, supply chains and finance that will reshape business behaviour well into the next decade, according to the CBI, which represents 240,000 UK businesses.The recession has raised concerns about commercial models, supply chains and finance that will reshape business behaviour well into the next decade, according to the CBI, which represents 240,000 UK businesses.
Its study suggests:Its study suggests:
  • Businesses look to alternatives to protect investment and innovation
  • Companies look at their approach to working with partners and even competitors to stop future "domino effect" of supply-chain failures
  • Sustainability and ethics could become more integrated into the business model. Firms should seek to improve accountability to attract and retain customers and staff
  • A more flexible workforce should evolve with some firms that might mean a smaller core workforce and a larger, so-called flexiforce.
  • Businesses look to alternatives to protect investment and innovation
  • Companies look at their approach to working with partners and even competitors to stop future "domino effect" of supply-chain failures
  • Sustainability and ethics could become more integrated into the business model. Firms should seek to improve accountability to attract and retain customers and staff
  • A more flexible workforce should evolve with some firms that might mean a smaller core workforce and a larger, so-called flexiforce.
Richard Lambert, director general of the CBI, said the UK may be poised at the edge of a new era for business.Richard Lambert, director general of the CBI, said the UK may be poised at the edge of a new era for business.
"Attitudes to finance and to corporate leadership are changed for a generation by the shock of the past two years," he said."Attitudes to finance and to corporate leadership are changed for a generation by the shock of the past two years," he said.
"What we now need is a more balanced, less risky pathway to growth - one in which the short-term returns may be lower, but the long-term rewards for management success will be a lot more sustainable and secure."
Prime Minister Gordon Brown is expected to call for an "outward-facing Britain, attracting inward investment and sustaining high-value-added jobs", when he attends the conference.
He will stress the importance that business links with Europe hold for Britain.
The government says more than three million British jobs depend on Europe.
How has the recession affected your business? Do you agree with the CBI's comments? Send us your views using the form below.How has the recession affected your business? Do you agree with the CBI's comments? Send us your views using the form below.
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