Expert financial commentator brings City advice to Somerset

Nov. 28, 2011 - PRLog -- Urquhart Stewart shared his vast financial knowledge at a seminar hosted by leading South West accountancy firm Albert Goodman at the Mount Somerset Hotel in Taunton on 24 November, with nearly 100 people attending.

Entitled Steady thinking in the season of storms, Urquhart Stewart focused his discussion on the importance of confidence in the markets and the influence of the global economy. He discussed the impact of America’s debt problems and the questionable future of the Euro, and how those ripples will be felt in the UK and the South West.

Urquhart Stewart commented, “There has been a lack of credible and effective political policy and leadership. Companies are not doing badly, they are actually doing quite well, but we are lacking in confidence. Similarly, the global economy is doing quite well, it’s just that’s not a headline that usually sells newspapers. The global economy is growing at some 3 to 4 per cent and that’s not bad. There is a future and life will improve, it’s just going to take a while.

“Britain doesn’t have a debt crisis but we do have a large debt, which is a deficit problem not a crisis.  We need to control the cost of our debt – you don’t grow an economy by cutting everything, there’s got to be some element of growth.”

Urquhart Stewart discussed the importance of manufacturing and SMEs to the local economy. “I’d like to dispel the myth that the UK doesn’t manufacture. It does. We are still the 7th largest manufacturer in the world. We make a lot of things and contrary to popular opinion, we haven’t stopped making things, in fact our manufacturing rate is growing.

“Over 400,000 new businesses are set up every year. But without cash flow support from banks, over half of those new businesses will not survive. We know that companies will start up in this county given the right circumstances. I would suggest a 3 to 5 year start up holiday to get new businesses going. Where there aren’t any national insurance contributions or employment legislation for small businesses and investment relief is given by way of guarantee. These are simple things, which have been done before and don’t actually cost a great deal. Britain is not doomed, but Britain is damaged and there are actions that can be taken to rectify this.”

Urquhart Stewart makes regular appearances on the BBC, was judged the nation’s favourite financial personality and is one of the most recognisable and reliable financial commentators today. He has 20 years experience following the ups and downs of the markets and his assessments, predictions and witty observations are trusted by professional and amateur investors alike.

Having trained as a barrister, Urquhart Stewart took up corporate finance, working in both Africa and Singapore. He then went into marketing, focusing on corporate cash management facilities. This led him to help found Broker Services in 1986, which went on to become Barclays Stockbrokers, where he was Marketing Director. In early 2001, he co-founded Seven Investment Management (7IM).

Albert Goodman has offices across the region including Taunton, Chard, Yeovil, Bridgwater, Weston-super-Mare and Weymouth. For further information, visit www.albertgoodman.co.uk.