Taking the Economic Market to a New Level?

I was invited along to hear a panel discussion where the topic was on the economic climate in the UK, with a particular reference to the technology sector. It was an interesting conversation and heated debate with experts from the city.
Highlights:

• Technology company’s have been resilient through the recent economic uncertainties because they aren’t dependant on city financing and never were. Technology’s biggest hit was in the early 2000‘s due to uncertainty and they are recovering. They are privately financed through the services or products they provide and there is no need to look at marco economics which helps avoid getting stuck.
• Resilience of Company’s such as Autonomy and Fidessa which banks are now dependant on for technical services as well as having a sound management team to move things forward are all indications of technology success. There are those organisations however, such as Sage and Logica, which are slowly becoming a legacy. They need to wake up!
• Good management picks up weak competitors using equity through spotting opportunities
• Equity financing has paid off over Debt financing and the results are being seen today

 
This is the bit which aligns with my view of the world and what can really make the difference now:

• Retention of quality key staff is a must
• Management need to start looking at changing and creating new business models to get past the restricted walls built from the past. Innovators will be the leaders. Fighting fires will no longer work but creating new solutions will.
• More international research is required and moves to work in areas where there is a market, specifically the emerging markets. Valid point, but what about the UK?
• “Enterprise technology is now not being seen as something just for large organisations, its been moving towards consumer technology” Ian Spence [Founder IS Research]
• The next BOOM will be getting a service or product out to the global market which is already being done
• “Human innovation is natural….we just want to get better” Simon Cook [CEO of DFJ Esprit]
• Making the most of opportunities in the Market, no matter what the economic climate will gain positive results.
• “The prediction for the future is that only an ECO Entrepreneurial country will lead and flourish in the Western world” Simon Cook Here! here! This is where the city can make a difference, just as it did when the hedge fund products were developed in the early 2000’s. Its the ideas, not necessarily the predictions which will turn the economy around. 

Focus, clarity and action!
NB These highlights were based on personal interpretation from a panel discussion