New YouGov research reveals that most British people expect a global financial crisis this year. 51% say this is very or fairly likely compared to 28% who say it is very or fairly unlikely. You Gov
There are several key reasons behind this thinking:
- Stock Market have created inflated values for businesses in that last couple of years and could fall dramatically this year
- China is in crisis, last week it suffered a 7% slump in its main share index
- The World Bank and OECD have both expressed doubts over economic growth
- Interest Rates are expected to rise
- Falling Oil Prices – great for consumers but bad for many economies
What should you do to prepare for the worst (hoping it doesn’t happen)?
- Pay off debt and reduce your interest rate exposure
- Improve your Cash Cycle and tighten credit controls
- Re-examine your investment strategy
Let’s hope there isn’t a crisis!
