It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to James Pinchbeck, Partner at Streets Chartered Accountants.
To say that 2020 was a challenging year is probably an understatement. Facing unprecedented circumstances businesses have been resilient, innovative and enterprising. What then does the year ahead look like for business leaders and their businesses? For me I believe 2021 will truly be a year of opportunity, much of which will be in response the lasting impact of the pandemic but also driven by the need to respond to adversity which has affected most if not all of us.
The last 12 months has seen a growing number of start-up businesses, this is certainly set to continue over the coming year with those switching from employment to self-employment and looking to bring to market a new business idea. Ironically, perhaps the current economic climate is one which favours the success of a new venture.
Whilst gaming rocketed during lockdown, so did the use and application of technology in business and across the workforce. As we embrace new ways of working and look to improve productivity, investment in technology is set to provide significant opportunities for technology providers as well as those supporting the training of IT skills.
Restrictions on the way we do and run our businesses have and are likely to continue to see more and more of us adopting new business models, exploring new ways of working, looking at ways of meeting customers’ needs and innovation in marketing our businesses. All provides exciting opportunities for those of us who embrace change, like problem solving and are bold to take on new ideas. Whilst in lockdown the collective benefit of working together may have been limited, the year ahead is likely to see a quest for and the benefit of more collaborative working.
Finally, whilst many might find it another financially challenging year, and one perhaps in which it is difficult to reward staff and colleagues, it certainly could be one which provides the opportunity for acknowledging effort and for having a greater sense of empathy and compassion for each other.