With such economic problems why is there not more focus on business Ideas in the Press?
Like many I took a break over Christmas and took time out with my family. I come back to our world with a bump. As a rule I don’t buy newspapers. On the plane I was restricted to just one in English.
I broke my rule just before Christmas too. I bought the weekend edition of the FT, save the advertising features, it may as well have been empty. Especially as the business commentary section has been reduced! I broke my rule again on the plane and this time bought The Daily Telegraph I discovered there were at least a few pages dedicated to the subject of business.
Is Putting The Burden On Tax Payers And Commuters Right?
First of all, with over 50% of all employed being employed by small businesses, how is it that there is not more space dedicated to business and the economy? With so much news of the rise in costs, the burden on commuters and taxpayers – why are there not more pages dedicated to helping small businesses?
As we lurch into the new year, the US was literally on a cliff edge and UK politicians are, according to Economics Editor, Philip Aldrick of The Daily Telegraph ‘just hoping for the best’ on the economy. No leadership either?
Japans ‘Naked’ Intervention
The lead story within the Daily Telegraph’s Business section on New Years Day was about overseas matters. Specifically that Premier Shenzo Abe of Japan is apparently ready ‘to spend £7bn+ on buying plant in the electronics, equipment and carbon fibre industries to force the pace of investment.’ This in the face of ‘warnings that naked intervention would anger trade partners and damage Japan’s strategic alliance with the US.’
Brave move? What about you? Do you have £7.1bn to spend? Would you risk your largest client? Probably not. Are you going to ‘hope for the best’? You can’t! Are banks going to lend you the money? Not likely.
Shaking up the industry is a typically entrepreneurial move, and those that do this, do tend to come up on top. Japan would be a force to be recognised if the Yen increased in value and Japan was brought out of its deep slump. I salute Premier Abe on his courage to shift things around, even though he may well violate World Trade Organisations in doing so.
It’s OK If You Don’t Have £7bn To Spend
It certainly seems more is being done there than here. My maxim’s are that activity breeds results. You only reap what you sow. As an entrepreneur, we know that staying at home, doing nothing, waiting for the ‘call’, ‘waiting it out’ ain’t going to cut it. We have a plan. You don’t need to have £7bn in the bank, but it would help, perhaps more than Quantitative Easing…
Interestingly in the same newspaper is a two page spread on the oldest business club in the world, a club that has less than easy entry, you need to have been privately owned and passed from generation to generation for more than 300 years to join. These meritable men, women and families state collectively that they have no clue what to do either, but I did spot a few insights we all could use.
Potentially because I am not a journalist, but a practicing business man, I spotted the reason why these companies still exist. I note that the Whitechapel Bell Foundry est: 1703, made more money giving tours than selling its bells to churches. In other words, to be a customer of the Whitechapel Bell Foundry, you don’t need to be a church owner or have any intention of buying a bell. You just may like to know more about the art and science of bell making over the centuries. That is information marketing – and reaches out to a far wider audience.
The Power of Wallet Lubrication
Likewise, a recent erstwhile member of the 300 year old club is Fortnum And Mason. No doubt they can see the PR benefits of proudly telling people all about their membership of such an august association, and also no doubt enjoyed the opportunity to provide good Christmas fare to this ‘old money’ group of people. In other words, running an event that targeted the affluent even to such a small group is a worthwhile thing to do. I can imagine they too offered a tour of the premises. No guarantees that sales would be made, but having just picked up the tab for a lash up lunch, chances are at some of the family members would have been sufficiently lubricated to let go of their wallets just a little.
Later in the article, on the topic of banking, one firm member said that it is the banks who bank with them. This group appears unanimous in this, they do all they can to avoid borrowing money. The only bank fees paid are apparently for cashpoint services. Makes sense.
If You Like This, You’ll Want What I’ve Got
If you like these kinds of stories, these kind of ideas, the kind not mentioned in the press and you would like to meet like minded people, who share more ideas like these, take advantage of my latest FREE offer, check out a membership of Daily Marketing Ideas, or click here to register for our London Event, while there are still seats available – you don’t have to be privately owned for three hundred years to become a member, although space is limited..
Hi I liked your observations and certainly wish I had 7.1 B in the bank. Since you wrote this the US has pulled back from the brink and although they have not solved their long term problems at least Obama is saying this kind of brinkmanship will not be allowed to happen again. As for the UK we have probably the least experienced cabinet that I can remember in charge at one of the most difficult economic times in history. It is good to hear that the Japanese PM is being brave because that is what is needed here some out of the box thinking rather than the same dreary line about having no alternative however bad the situation was when the coalition came to power they have simply made things worse and hope seems to be their only strategy.. An old NLP principle is “If what your doing isn’t working do something different” and “The definition of madness is to keep doing the same thing and expecting a different result.”
If it were me: I have read that big business is sitting on 700 B of cash world wide if our government here can provide an incentive to spend that in itself would give the economy a boost, print money and give everyone a £1000 tax bonus or reduce VAT by 2% some of it will be spent on reducing debt but many people will spend it and get the economy moving enough to start creating confidence and from that leads investment in the real economy, give business a national insurance holiday by reducing employers contribution by 1% for the next year. Create employment by investing directly into any Government agency that has the potential to create revenue. Stop paying for inquiries and panels and boards that make recommendations that governments see fit to ignore or water-down and if you do run an investigation get the members to work for free, the honour itself should be enough reward. Stop the politics but never stop working on the problem. Apologies that turned in to a bit of a rant but I believe strongly that the point of government is to lead and solve problems not shake their collective head and say its a difficult situation and nothing can be done.
I am always perplexed at the increasing prices of basic essentials for living or making a living these days, and the increasingly prohibitive costs or taxes levied for essential things in the UK.
Running a small business on credit and propping up the economy, the banks or bigger businesses who are slow to make payments these days is like walking a tightrope. There is so little official support, recognition, encouragement, help or finance available for growing small independent businesses it is small wonder that 90% of them give up even though some of them like mine could have paid off the national debt of a smaller nation if given the chance.
The government only talk about the large failing banks, companies, corporations and economies who waste billions on propping up inflexible monopolistic businesses rather than look at fast moving, growing and evolving small businesses that can react to changing economies rather than go the way of the dinosaurs or ships like Titanic more interested in speed than safety.
Transport infrastructure and hi speed communications between people and places is essential for a healthy economy.
in France I found that I could take a 50 km coach trip between major towns or rural communities for around 4 euros as it was sponsored by the government. The same distance in a car, van, bus or train in the UK just seems like a chance for government or businesses to cash in for every mile.
Since my business can be run anywhere in the world, I can see no really good reason why I would want to base it solely in the UK where the cost of going to work is more than some people earn in a week in some countries. Why?
Regards
David
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Beth
You’re right. It’s individual entrepreneurs creating great business ideas that makes the world go around.
If you don’t have the funds and no one trusts your idea enough to give you a loan; you really got to think outside the box. Anything is possible; it just takes motivation and drive to make your idea become a reality.
Great article, thanks.
Yeah I always feel like it takes money to make money. Thanks for the post… bookmarked for later reference
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