Economic Briefing with Mark Berrisford-Smith: Key Takeaways from a Morning of Networking and Insights
South West Business Finance (SWBF) recently hosted a highly engaging Economic Briefing seminar featuring renowned economist Mark Berrisford-Smith.
Held at the scenic Cumberwell venue, the event brought together 100 attendees for a morning of networking, economic updates, and valuable discussions about the UK’s financial landscape.
Here’s a summary of the highlights and insights from the day.
A full house at Cumberwell
The seminar saw a fantastic turnout, with business leaders, entrepreneurs, and finance professionals gathering to gain clarity on the current state of the economy. Attendees enjoyed the opportunity to connect, exchange ideas, and share experiences in an engaging and collaborative environment. SWBF’s commitment to fostering meaningful connections within the business community was evident throughout the event.
The state of the UK economy – Insights from Mark Berrisford-Smith
Mark Berrisford-Smith delivered a compelling presentation titled The Poisoned Chalice: Feeble Growth and Too Much Debt. His insights painted a realistic picture of the UK economy, addressing key challenges such as sluggish growth, rising debt levels, and the impact of global events.
Here are some of the main takeaways from his talk:
Slow recovery post-COVID
The UK’s recovery from the pandemic has been one of the slowest among major economies. Despite substantial government spending to cushion the blow for businesses and households, growth remains subdued.
Rising debt burden
The UK’s debt has grown faster than that of any other G7 nation, creating pressure on public finances. Servicing this debt is particularly costly, further straining resources.
Labour market challenges
Labour participation rates remain below pre-pandemic levels, making the UK the only G7 country yet to recover in this area. This trend exacerbates long-term underinvestment and limits potential growth.
Global trends shaping the UK
Mark highlighted improvements in the global economy, with falling inflation and steady interest rate cuts expected to continue. However, challenges in Europe’s manufacturing sector and China’s deflationary risks remain concerns.
Opportunities amidst challenges
Despite the challenges, there were some optimistic takeaways. Mark pointed out that borrowing costs are beginning to decline, energy bills are stabilising, and inflation rates have returned to target levels. These developments could pave the way for modest economic growth in the coming years, with GDP expansion potentially reaching 2% by 2025.
For businesses, these trends underline the importance of strategic planning and proactive financial management. Whether it’s navigating rising costs or seizing growth opportunities, having the right financial guidance can make all the difference.
SWBF’s role in supporting businesses
As a trusted financial partner, SWBF is dedicated to helping businesses thrive in uncertain times. During the seminar, SWBF’s representatives highlighted their expertise in areas such as commercial finance, cash flow management, and tailored funding solutions. The team emphasised their commitment to providing personalised support to businesses, enabling them to adapt and succeed in today’s dynamic economic environment.
What attendees had to say
Feedback from attendees was overwhelmingly positive, with many praising the depth and relevance of Mark Berrisford-Smith’s insights. Participants also appreciated the opportunity to network with like-minded professionals and learn from real-world examples shared during the session.
One attendee noted, “The event was both informative and inspiring. It’s refreshing to hear an honest assessment of the challenges we face, along with practical advice for moving forward. South West Business Finance’s support for businesses like ours is invaluable.”
Download a copy of Mark’s Presentation here
Events like these underscore the importance of staying informed and prepared in a rapidly changing economy. SWBF continues to lead the way in connecting businesses with the financial tools and insights they need to thrive. From bespoke property development finance to solutions for managing cash flow, their team offers a wide range of services to support businesses of all sizes.
If you’d like to learn more about how we can help your business navigate today’s economic challenges and opportunities, please do get in touch with our team.
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