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Monday
Jun012009

HSBC’s hi-tech vision of Britain after the recession

A picture of a brave new entrepreneurial Britain is emerging from an industrial landscape bulldozed by the recession, according to a new report from HSBC bank.

The bank has put together a panel of forward thinkers who believe that post-recession Britain will be a wasteland for traditional businesses as new skills and technology emerges in new ‘super city’ hotspots.

The key to future prosperity is managing the change recession is inflicting on the economy and concentrating on developing new technologies like robotics, nanotechnology, stem cell research and gaming, says the report The Future of Business.

The report predicts five new trend setting super cities that will rise from the ashes of the recession specialising in new sciences – Brighton, Leeds, Liverpool, Newcastle, and London.

To leverage these new businesses, entrepreneurs will rely heavily on social networking and the web as tools to collaborate with other businesses and develop more direct relationships with customers.

Other cities expected to boost their post-recession economies are university cities with the science and research infrastructure in place to benefit from what the report terms as ‘this new industrial revolution’.

This sci-fi vision of Britain in the 21st century was gathered by speaking to 500 entrepreneurs in 17 cities.

Noel Quinn, head of HSBC Commercial Banking UK, said: "The face of business is changing and while we are in tough economic times, this report unveils some positive new trends that could alter the shape of the working world tomorrow.

"We are already committed to supporting businesses over the long-term, helping them shape and develop for future success.”

HSBC has dedicated a £1 billion fund to help UK business customers with up to a £25 million turnover.

The fund will give working capital to aid cash flow and to support businesses that trade or are looking to expand overseas.

Businesses can apply to borrow from the fund by contacting HSBC direct.  The fund is part of a £5 billion international initiative to help business by HSBC, and the finance is expected to be available throughout 2009.

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