Senior Accountancy & Audit and Business Consultancy firm SRLV gave their reaction to news of the UK economy contraction.
(1888PressRelease) April 08, 2011 - Business analysts across the UK responded to headlines that the UK economy contracted by 0.6% in the final quarter of last year and consumer confidence has "collapsed". Senior Accountancy & Audit and Business Consultancy firm SRLV gave their reaction to the headlines with advice for UK businesses.
The negative growth figures provided unwelcome news for many sectors, representing a sharper decline that had been previously forecast. The service sector saw its output decline by 0.7% during the same quarter. Finance and businesses services suffered a 1.1% fall, with a even greater fall witnessed within construction at 2.5%.
"There are some particular challenges ahead. Our message to service sector companies is that solid professional advice is going to be invaluable to allow them to grow and thrive this year. We work with Property and Construction firms, a sector which was adversely affected during the final quarter last year. We understand that this is one of the most volatile industries, and certainly one of the hardest to predict. So for these firms, we are stressing that our specialised input is essential. It is a very exacting industry and 'general advice' is not going to be adequate. Firms are going to need to operate from a cast-iron level of economic stability this year, and we can support them towards achieving this."
Alongside negative growth, there have been alarming headlines written about the latest results of the Nationwide's Consumer Confidence Index survey. Finance journalist Tania Jefferies even stated the UK's consumer confidence has "collapsed", writing for the respected Thisismoney.co.uk. Jefferies points to the Index standing at 38, a drop of 10 points and the lowest measurement since its inception in 2004. Consumers appeared concerned about an expected rise in inflation to 4%. More recently the sudden peak in oil prices could add to inflation with a negative impact on Britain' GDP, according to the National Institute of Economic and Social Research.
"We will be working closely with firms this year to safeguard their financial stability and at the same time, opening the door for new and improved ways of working. If the focus stays solely on the negative headlines, there can be a tendency to feel it's all about 'staying on your feet'. We use a more client-centred approach, taking time to understand and build relationships with our customers. We need to work together, once we understand the business we can bring forward new opportunities, introduce new contacts, and formulate new ideas. It's about having a positive running mate who believes in your business and brings new concepts to the table. It helps to constantly invigorate the business at the same time as ensuring it's operating from a stable place".
SRLV work with a diverse range of clients, drawn from Property and Construction, Media and Healthcare, Professional Services and Retail and Wholesale. Their clients benefit from senior partners with a wealth of expertise in Audit and Accounting; Business Consultancy; Tax Planning; Corporate Finance, Financial Services and Human Resources. To access their support, call the New bond Street office on +44(0) 207 079 8888 or send an visit www.srlv.co.uk
Senior Accountancy & Audit and Business Consultancy firm SRLV gave their reaction to news of the UK economy contraction. 
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