“STRONGER BUSINESSES WILL EMERGE FROM RECESSION,”
PREDICT GRANT THORNTON AND BARCLAYS WEALTH

Strong businesses are set to emerge from the recession even stronger than before, according to two top firms of advisers.
 
At an event in Birmingham, co-hosted by Grant Thornton which is a patron of the Institute of Asian Businesses, and Barclays Wealth, leaders from successful Asian businesses were taken on a tour of the global economy and its prospects for growth by Thomas L Kalaris, chief executive of Barclays Wealth.
 
"Despite word to the contrary, the world is most definitely flat," said Mr Kalaris. "The global economy effectively has no borders, which should help us emerge from the recession faster, and growth in emerging markets should benefit all businesses which are preparing now for the upturn to come."
 
Mr Kalaris identified a key element of the new financial landscape that, he believed, should contribute to the world becoming a more                     L t R: Thomas L Kalaris, chief  
sustainable  environment in which                                executive, Barclays Wealth  and 
to do business. He continued:                                      Eric Williams, Birmingham-based 
"Heightened transparency in everything                         national head of private client 
we and our clients do in future                                              at Grant Thornton
will ensure that we emerge from this recession
stronger than before, but with a focus on long-term 
strategies rather than short-term gains.
 
"I believe we have now hit rock bottom in many asset classes and the overall economy, but it is likely to be a longer bottom than many commentators had predicted.  And a longer-term recession generally shakes out the players who should not have been in the game."
 
Eric Williams, Birmingham-based national head of private client at Grant Thornton, added:

"We share Mr Kalaris's view that all the signs are that the UK economy is entering recovery phase. Businesses in the West Midlands best placed to take advantage of the upturn, will be those that have a preference for low gearing and for maximising the growth of their businesses on the back of their own retained capital. This is typical of the Asian business approach which classically also possesses the strong entrepreneurial drive that will be required to seize new opportunities as the recovery unfolds.

"Grant Thornton shares Barclays Wealth's philosophy of keeping close to their clients to ensure they are well-prepared to implement successful growth plans.”