Instead, Vladimir Putin started a war, the world caught a bout of inflation and a third of the world headed towards recession. If that wasn't enough, the impact of these issues led to a cost of living crisis and a downturn in economic growth. The latter provoked a Prime Minister and a Chancellor to risk all and go for growth, but it backfired.
"So, what happens now?"
It seems that our current Prime Minister has calmed the financial world, but we are still facing disruption to supply chains, whether it's food or the non-food related silicon chips that everyday gadgets require. Putin must therefore be defeated and we need to put a stop to his senseless devastation of human life.
Inflation must be brought down, but the medicine required to suppress consumer spending is difficult to take. Most people want more in their pocket to spend and dislike below-inflation pay rises and higher taxes.
"The message from The Business Godparent is to be patient; better times are around the corner!"
Growth will return, but in the meantime, as the UK continues to learn how to trade post-Brexit, we as business owners need to be innovative, search out new technologies, look for new opportunities and most importantly, we need to remain optimistic.
Wishing you all the very best for 2023.
Until next time ...
ROGER EDDOWES Business Godparent
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Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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