Pre-Budget Warning ShotBy joanne | 10th December | Marketing Strategy, Marketing Training
The news is always a great source of ‘reality’ in terms of what’s happening in the economy and this week’s pre-budget report is no different. Reading between the lines, you can begin to determine some of the changes you might expect to see in the economy next year – at least in terms of public spending. You can then plan for how they might affect your business.
Throughout the recession, the Government has been bolstering the economy and keeping public spending high – you just need to watch the adverts on television to notice how many are promoting government-backed initiatives. But that spending will have to stop at some point (we all know how little money they have).
As a result, it’s very likely that job cuts will be made in the public sector in 2010 and that spending will be cut in some areas. If you target these customers, you may need to make a plan to boost your business by expanding your market and maybe creating a balance between public and private sector clients. If you act now, you could be in a stronger position when any changes are made.