BDO New Economy Report
09 February 2017
The past 5 years have seen rapid developments in technology and regulation, changes within our national and international politics, an uncertain relationship with the EU and opportunities for a whole raft of new trade deals across the globe. This means that many of the boundaries that once shaped the way organisations do business are changing or disappearing altogether.
At the same time, global high-profile scandals have left many people feeling alienated from – and frustrated with – governments and other big institutions. Globalisation has seen many winners but many losers too with some seeing the vote for Brexit followed by similar electoral sentiment in the US as rebellion against this globalisation.
All these changes pose some interesting questions. For example, how should businesses react in such uncertain times and how can policymakers create the right environment to help them to flourish? In simple terms, what should Britain and Northern Ireland’s post-Brexit economy look like? After all, change brings with it great risk but also great opportunities for those able to capitalise on them.
This report is BDO’s contribution to the debate. We believe that a ‘new economy’ is needed which is not over-reliant on any one sector or region but which makes the most of the UK’s talents, skills and entrepreneurial spirit. It is an economy which, despite Brexit, is outward-looking and helps its home-grown businesses expand abroad. And it is an economy which puts the UK’s high-growth, entrepreneurially spirited businesses at the heart of its thinking. In Northern Ireland, we have a certain sense of resilience and we must remember that without change there is no innovation, creativity, or incentive for improvement.
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