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Looking to the future

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Kreston Reeves points the way to ‘Tomorrow’s Business’

Kreston Reeves, the forward-looking accountancy and financial services firm, is helping business leaders to prepare their enterprises for the future and to "think ahead of the game."

Professor Richard Scase, a leading UK business forecaster and strategist, was the key speaker at three pioneering ‘Tomorrow’s Business’ forums attended by nearly 100 directors, owners and entrepreneurs across London and the South East. The Kent event was held at Turner Contemporary in Margate.

Prof Scase, who was joined by award-winning business journalist Trevor Sturgess, looked at what the future might hold for business, and what should be done to anticipate the many opportunities and challenges facing these important regions.

Prof Scase’s predictions generated lively discussion among Kreston Reeves guests and advisers. He offered valuable insights into social, economic and technological trends and their likely impact on business and markets over the coming decades.

He explored the implications of globalisation, digitalisation, skills, migration and shifting demographics, the “key drivers” of future business in London and the South East.

Prof Scase said: “We all concentrate on our business of today, but at the same time, because of the sheer pace of change and the uncertainty in which we operate, we should be thinking ahead of the game.

“Increasing risks and uncertainty mean we don’t throw our hands in the air but concentrate on developing strategies and adapting them accordingly.”

He explained that the power to destroy was now greater than the power to control, citing physical threats from terrorism, the Taliban, Isis and competitive threats to traditional business models from digital technologies.

“Commodity and energy prices, migration, demographics – all these factors are going to revise our risk management strategy,” he said.

Clive Stevens, Executive Chairman at Kreston Reeves, led the discussion. He said: “It was good to see the extent to which our audiences perceived these trends to be opportunities – or challenges.

“Despite all the evident change that technology and global business trends will bring, the main concerns were people-related - the skills deficit, attracting quality employees and retaining them.

“Other worries included keeping pace with the changing market, the impact of EU membership, another recession, digitalisation and increasing competition.”

Trevor Sturgess spoke about how the skills deficit, housing costs and shortages, infrastructure and political challenges were being – or could be - addressed in London, Sussex and Kent.

Mr Stevens added: “Richard and Trevor opened a wide and fascinating debate on the likely impact of trends across our region. We at Kreston Reeves will always be at the forefront of that debate and stay ahead of the game for our clients.

“Because of its importance to all our existing and potential clients, we will be publishing a report on the significant issues raised in our forums.”

Author:Kreston Reeves