The environment is certainly changing, the number of cranes across the skyline of London is always a good indication of how things are going – and if you want number-driven economic facts, unemployment is at a six-year low, wages are up 2.1 per cent and the public finances enjoyed a very favourable January as the tax receipts flowed in.All of those indicators share a common theme – business. It is business that creates the jobs, pays the wages and a decent chunk of taxes too. But it’s not time to start sipping cocktails by the pool; we have to maintain the mind-set that the economy hasn’t returned to full health and needs continual rehabilitation to ensure its ongoing recovery. Don’t get me wrong, that’s not a slight on the efforts of chancellor George Osborne or the 5.2m small and medium-sized businesses that are the power that drives UK plc’s engine room. It’s just, if we take our foot off the gas, there is the prospect that things might start to go south – especially if we end up with the nightmare situation of having to also battle against Labour’s anti-enterprise agenda. Which is why we can’t rest on our laurels and businesses have to be creative to keep their offering fresh for both existing and potential new customers. In simplistic terms, at opposite ends of the business spectrum there are those always looking to create the next big thing, while there are those happy to stand still. Ambition is great and stability is fantastic, but never following through on your dreams or kidding yourself that things will be fine if you stick with what you are doing are both incredibly dangerous. There are plenty of stories of businesses that didn’t move with the times or spot how their markets were changing. From Woolworths to MFI, recent history is littered with casualties of complacency.
Read more from Charlie Mullins:
- Making a workforce feel valued and thanked is key to success
- Those not paying minimum wage should be put in the stocks
- Creating an army of like-minded entrepreneurs
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