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With 53,000 new cases of swine flu diagnosed in a single week recently and GPs preparing to vaccinate only nine million people in certain higher risk groups, there is a real possibility the pandemic will have a significant impact, not only on the health of the nation, but also on the UK’s businesses. Only last week, one of our staff members discovered that (his/her) partner had been diagnosed with the illness. Whilst in many cases the condition is relatively mild, the infection risk is high and for many organisations, a depleted workforce due to sickness can put an enormous strain on operations. This is particularly true for owner-managed businesses and SMEs – the types of enterprise which most
I read with interest reports this week that Adam Posen, the newest recruit to the Bank of England’s Monetary Policy Committee, believes that the financial system is not yet equipped to support a sustainable private-sector led recovery and this could trigger a double-dip recession.
Mr Posen’s main area for concern is the possibility of the Government reducing significantly its current level of support for economic activity before the financial system is fixed. He believes the result would be a shortage of credit for small and medium-sized non-financial enterprises – the types of business which benefit most from
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