Why Keeping Local Business Is Good For Britainís Economy!
Posted on 13th Jan 2012 by Mark Eslick
Our british designers can lead the country out of the current economic doldrums!
By keeping local business going through these tough times we can stimulate growth.
Over the last 20 odd years many good manufacturing businesses have fallen by the wayside. Today across the length and breadth of britain many skilled craftsmen are still found in their industrial units churning out everything from engineering components to cabinet makers, rubber moulds to fabrications. These companies have been the lifeblood of the british economy for over a century, and they will survive because they will constantly evolve and change with the times. Innovation is the key to staying alive, and being able to change with the times. These are the main advantages of smaller companies, unlike large organisations that take longer to adapt and this can result in failure.
Maybe if we can get everyone in Britain to 'Buy British' and keep our domestic market intact we would be doing the economy some good! On the other hand we are reminded that this does not fare with the economy of scales and accessing the global market with exports and imports.
We bought more than we sold!
In 2011 in Britain we bought £97billion more goods from outside the country that we sold to them, this is the biggest shortfall since 1980 and the largest trade deficit in thirty years!
One major positive testament to British expertise is our ability to provide innovation in niche markets like the new Airbus manufacturing plant in North Wales and the design and engineering facilities in Bristol.
Britain has always been strong on design and innovation, and this will ultimately play an important part in our future and push our economy out of the current downturn.
Our only conclusion is to stimulate our growth by growing our industrial manufacturing, increasing employment, buy more from our local businesses, industrial, manufacturing including local farms shops and support our local businesses and the effect would be a positive one!
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