Which trends will impact your business the most in 2020?
We just attended a Harry Dent seminar in Adelaide to learn what demographic-based trends he reckons will impact business in Australia.
Is your senior leadership team ready to manage and lead your business through these predicted changes?
Here’s a summary of Harry’s research and predictions…
Two factors drive economic health more than anything else…consumer demand and urbanisation. The continuing urbanisation of SE Asia and India will help Australia’s economy through the 2020’s. Australia and NZ have immigration to thank for a higher percentage of Millenials in their populations than say Japan where growth has been stalled for decades.
We will do better into the future than them re growth because of better consumer demand from young people having families. Short term pain will occur later in 2019 when both housing price and share price bubbles burst both here and in the USA. China’s economy is not sustainable with it’s present focus on building apartments in which no-one lives!!! Hence the switch to the Belt and Road focus.
There will be another major technology influenced change over the next ten years…biomedicine and AI will drive this. Over-priced assets (shares and real estate) will have a correction as governments and central banks try to manage debt into the future.
This will cause economic chaos in the short term…are you ready for the worst? Will your business survive several years of reduced demand? Have you done a risk review of this possibility? Do you have various cost reduction strategies planned and cash reserves ready? Is your Senior Leadership Team ready?
Spending two days away from the hurley burley of daily activities reviewing options and planning actions might be your saving grace!!!!
Join us at our “Leadership for profitable advisory business” workshop May 16/17 and plan several responses to different market conditions. Bring your SLT members. Get recession ready because the bubbles will burst according to Harry then pick up again 2023 onwards. Click here for details… www.andrewgeddes.com.au