Two things happened to me last week to make me think things have changed. A friend of mine told me he was moving house. I was surprised. I didn’t know he was looking to move, nor that he had his house on the market. It turns out he found a house he (actually his wife) liked, and he sold his house before the estate agent had typed up his details. Interesting. Because our practice is growing we are recruiting an additional administrator. I offered first interviews to 9 candidates, in the week it took to set up the interviews two people cancelled saying they had accepted a different job. Again interesting.
Anecdotal, I know. But it backs up the hard data. Booming house prices, lots more jobs, and rising tax receipts. The economy is moving from recovery to normality, after six hard years it’s a blessed relief. So what does it mean?
Interest rates will increase, the Bank of England has been doing some serious back tracking, I believe they want to increase them as soon as possible, maybe as soon as autumn. But they want to make rates normal very slowly to just say 2.5% over the next 2 to 3 years. So I don’t think you need to be alarmed.
If you’re waiting for the economy to improve for your business to improve, forget it. If your business hasn’t recovered by now, it’s your business not the economy that’s the problem.
Now is a great time to grow and develop your business, it you work the growing economy properly you should be able to build a decent business.
Let me know if you want to discuss how the economy will effect you.
0161 303 0610