The Times, May 2009
For a long time now business, and particularly big business, has had a poor reputation. Even before the recession took hold many assumed most businesses were, by in large, self-serving profit driven institutions that created a wave of negative social and environmental impact in their mercenary wake. It was very hard to get any message making an alternate case through. And of course the role the financial sector played in creating the collapse only served to make things even worse. A new nadir for business.
However something has happened in recent months, something that could signal a change in people’s attitude. It is, after all, often only when things stop working that you realise how much you needed them. And so it is becoming increasingly clear to people that business plays a vital role in life. And what’s more that we really need businesses to help get us out of the mess we’re in.
There appears to be a collective realisation that unless businesses start creating products and services that people need and are willing to pay for and doing so in a profitable way, the UK economy will continue to slump and decline for the foreseeable future. If there are going to be good jobs there have to be good companies. If pension funds are going to turn a decent income businesses have to perform decently. If the government is going to be able to fund public services employers and employees are going to have to be able to pay their taxes.
The tide of ill will against business therefore appears to be turning. And the figures bear this out. We’ve been taking the temperature of the overall reputation of a series of well-known UK businesses for over a year. In the past three months we’ve seen the start of an upturn pretty much across the board, with most companies up about 5%. Trust is returning. And sales will follow.
Businesses should make the most of this. Consumers are beginning to look to them to make their lives easier and better. This is an opportunity to grasp. Not only will action which really makes a difference win the hearts and minds of a newly receptive audience. It will also demonstrate the role business has to play in making Britain better.
