UK Market is Promising; but with IFs and BUTs

The business in the United Kingdom has always been its major attraction and the trade has been the major source of income for the British nation over the ages. Hundreds of thousands of British men went to various parts of the world in the past centuries and from Australia to USA there was hardly any country where the English traders did not reach. So, it is a proven fact that business and trade is like life for the British nation and their glorious past also reflects in the fact that London still stands as the most favorable cities for business activities in the entire world as per Global Cities Index which keeps economic status of a city at the top priority while judging its importance in the world.

So, the process of recovery is though slow after the recent slump that had hit the world economy in 2008, the prospects of the UK economy are not bad enough as compared to the economies of the countries that are here in the rest of the Eurozone countries. In fact the main problem with the UK economy is also the crisis of the Eurozone because it I the major trade partner of the United Kingdom and the hurdles and hindrances that are coming its way are mainly due to its partners. But the blame cannot be laid squarely at the Eurozone as the government policies and the banking policies in the United Kingdom have also been equally responsible for these troubles if not more.

The Eurozone might have been one of the issues but it is a fact as well that the banks in the UK have also not been able to formulate the policies and strategies that promote business in the country. They have been extremely reluctant in handing out the loans and it goes without saying that the business simply could not have improved without the help of the banks in the region and especially after facing such a major drawback, it was almost impossible for it to bounce back. On the other hand, the cost cutting measures by the government also had a negative impact on the business conditions and as a result, the recovery session is slow.

It is need of the hour that the government takes some steps and uses its reserves to help the people out of this dreary situation and the decision to establish a bank for this purpose seems to be a positive step in this regard. The banks must also look forward to mend their ways otherwise, the recession may go on and the banks will face the music along with the business community and the vicious circle of poverty will drag on for a longer period then it actually should.