With such economic problems why is there not more focus on business Ideas in the Press?
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
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