Professor Philip B. Whyman, director of the Lancashire Institute for Economic and Business Research (LIEBR), has commented on the fragile prospects for the UK's economy in 2012, with particular regard to small businesses facing prolonged difficult times ahead.
As economic advisor to the Forum of Private Business (FPB), Professor Philip B. Whyman has warned via the FPB press release on 21 December 2011 that the UK's economy may take longer than expected to recover. Citing work undertaken by the National Institute of Economic and Social Research (NIESR) (see diagram below), he has stated that the recovery may be slower than after the Great Depression and hence costing more in terms of lost prospects, job losses and missed opportunities.
The article has received considerable media coverage, including: HR Review, Total Investor, Lancashire Evening Post, Daily Post North Wales, The Journal (Newcastle), Press & Journal (Highlands & Islands), Yorkshire Evening Post, Press & Journal (Aberdeen), En the Web (web) The Magazine for Entrepreneurs, Talkingretail.com, Freshbusinessthinking.com, Workplace Law Network (web).
Source: NIESR, http://www.niesr.ac.uk/