Collaboration key to emerging from recession panel agrees

PROFESSIONAL service providers need to work more closely with their clients to help them to get more work.

That’s one of the opinions expressed by business leaders at a panel hosted by Yorkshire-based The Alternative Board (TAB) on preparing for recovery.

Andy Fraser, owner of Terra Vac (UK) – one of the UK’s leading contaminated land remediation specialists – said: “Collaboration is the key in the relationship between business owners and their professional advisers. There are opportunities for practical help and business referrals in both directions.”

Jason Zickerman, chief executive of TAB International, agreed adding that the mindset of business owners and consumers was changing.

He continued: “They are tired of being ‘down’ and are getting on with their lives. People have stopped panicking and started acting.”

However, the panel agreed that there is a need to be strategic about what action to take.

According to Margaret Wood, regional chairman of the Institute of Directors, business owners should think strategically rather than operationally.

Paul Dickinson, managing director of TAB UK, said there were some fantastic opportunities around – such as the opportunity to recruit great people who would otherwise not be available.

However, David McIntyre, business partner with Yorkshire Bank, warned that obtaining funding was more difficult now than it was before the recession.

“The goalposts have changed dramatically over the past two years,” he said.
“The ratio of approvals for funding applications is significantly lower due to pressure being applied to all banks’ lending capacity and transaction appetite. The number of lenders has also reduced significantly with many foreign banks retreating from providing debt to UK customers.”