As a business person, are you optimistic that 2010 will be better than 2009?
David Bloch, MD of the Brightwater Group comments:
As a business person, are you confident 2010 will be better than 2009?
- Yes: 60%
- No: 25%
- Don’t Know: 15%
In October 2008 we ran a similar poll asking about confidence for 2009. The result:
- Yes: 31%
- No: 50%
- Don't Know: 19%
The 2008 poll was right - 2009 was the most grueling year of my, and many other people’s business lives. Let’s also hope the second poll is right! But in truth, I’m sure it will be. Economists may thrive on statistics, but business people thrive on confidence, and there is definitely greater optimism about now.
In January 2009, I was flying into Dublin and had the misfortune to pick up the Business & Finance magazine whose headline read “Oh no, here comes 2009”! The magazine then had helpful articles about how to avoid insolvency! This year, the headline simply announced “2010”. The magazine then had various articles in it from business leaders discussing their hopes and fears for 2010. The consensus seemed to be that we were up for another tough year, but much better than 2009.
My personal view is as above. I think 2010 will be another tough year, but much better than 2009. The level of fear out there has dissipated. People have adapted to the new world and the media is covering other stories now. The fact the economy grew Q3 2009 to take Ireland out of recession was not as big a story as us hurtling into recession! Business people are quietly going about their business again, planning for the future and sleeping better at night.
My prediction? Ireland will not grow by just 1% this year (January prediction from the ESRI), it will be closer to 2%, 2011 will be better still and by 2012, we’re going to be rocking!