Wait until 2010 for economic recovery

A feedback survey undertaken by Nottingham-based independent insurance broker and financial adviser, The Wilson Organisation, has revealed the majority of businesses in the East Midlands believe they will have to wait until late into 2010 for the economy to show signs of recovery.

Eighty-six percent of the businesses taking part in the survey said it's at least a 12-month wait for the economy to pick-up.

The feedback survey also revealed a total 80 percent of the regions' businesses see the issues at the top of their own ‘survival agenda' are funding and security, as well as retaining their key people.

Wilsons conducted its Survival Survey to uncover opinions of and issues facing the East Midlands' business community, following the firms' monthly series of ‘Survival to Success' events.

Survey respondents were made-up of directors, partners and business managers/owners, operating in and around Nottingham and the East Midlands, in a range of industries and professions including property developers, architects and builders, engineering, banks, professional services and advisers.

"The majority view of the UK's business sector is that we will have to wait at least another 12 months before the economy begins to recover, something it would seem is echoed here in the East Midlands, according to the views of respondents to our survey," comments Annabel Prow, Wilsons' Joint MD and CEO of the firm's Financial Services Company. "Indeed, this was the prediction made by the keynote speaker at the last Survival event, Scott Dakers, an investment specialist of Scottish Widows Investment Partnership.

"We created the Survival series of events to provide support, guidance and solutions for individuals running businesses, by addressing the real issues facing them in the current challenging economic times and creating a forum in which to debate them. Running a business can be lonely, frustrating and worrying, and never more so than in the current climate. The unique nature of these economic conditions means that many business owners are without the relevant knowledge and experience to draw on for their next actions, with many facing a downturn and recession for the first time.

"The survey also revealed delegates found the information and ideas discussed at the Survival events to be useful, with 53 percent of respondents stating these were amongst the most valuable aspects of the sessions."

The Wilson Organisation provides professional independent insurance, financial, risk management and corporate finance solutions to businesses and individuals both regionally and nationally. For more information, visit: www.wilorg.com, or Tel: 0115 942 0111.