No soft landings – by Sue Chapple FCICM
02 March 2020
So Philip is now firmly ensconced in his new post as the interim Small Business Commissioner and I find myself with a tough act to follow as interim Chief Executive of the CICM.
It is a role that is both exciting and terrifying in equal measure, but one where I will do my very best to see that our Institute continues to put its best foot forward in supporting our members and the wider business community as we enter a post-Brexit world.
As I write, there are new challenges, and the latest ‘Black Swan’ that no-one could have predicted: Coronavirus – a benign sounding name for a virus that is already having devastating consequences on a global scale.
Mark Carney, the outgoing governor of the Bank of England, has warned that Britain should prepare itself for an economic growth downgrade as the impact of the Coronavirus deepens. Although it is perhaps too early to say just how badly the UK will be affected, there are already reports of a ‘tightening’ in the supply chain, and that will inevitably lead to further pressure down the line.
A slowdown of any kind is never good news, although its impact can be mitigated by best-practice credit management, and I have no doubt that our members will already be alive to the challenges that the next few weeks and months will bring.
If I’d hoped for a soft landing in my new role, it looks like I’m going to be sorely disappointed.