Coming recession: what coming recession?

UK IT buyers see no ships

Perhaps using a Nelsonian blind eye, UK IT buyers don’t see any recession, well, maybe one in 2010.

That’s the result from a B2net-sponsored survey in the UK. Today there are predictions that employment in London’s financial district could see 40,000 job losses. Despite this IT buyers are optimistic – 64 per cent believe a recession is unlikely in the next few years.

IT decision makers from mid to large enterprises in the services, retail, manufacturing, distribution and public sector were polled by B2net to assess their attitudes towards a toughening economic climate and what contingency plans, if any, their organisations were making. Of the three quarters of respondents who considered their businesses to be in good shape to handle a toughening economic climate, more than half had made no contingency preparations, nor had any intention of doing so. Only 2 per cent had taken any action to cut operating expenditure.

Of the 14 per cent who did believe a recession was likely, half believed it would not be until after 2010.

Jason Clark, B2net’s MD, said: “This level of business optimism is refreshing, but equally, there’s a fine line between shoring up defences intelligently to achieve optimum cost efficiencies and burying our heads in the sand. Considering it was only eight years ago that UK industry experienced the devastating consequences of the dot com crash, we need to be ready should history repeat itself.”

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