South West businesses to feel biggest pinch in 2012
Chartered Management Accountants the South West of England and South Wales are expecting the worst business conditions in the UK for 2012 in the form of freezes in salary and recruitment, job, budget and training cuts,according to the latest Members Salary survey released at the end of 2011 by the Chartered Institute of Management Accountants (CIMA). Local members from around the South West met with a local expert in Cardiff on the 24th January to help them set goals for the next year.
Respondents to the Chartered Institute of Management Accountants Members Salary Survey from South Wales and the South West reported disheartening expectations for future business performance and personal job security over the next year. Over half of the respondents expected budget cuts with twice as many (31%) expecting cuts for training compared to other regions. Roughly one third more respondents in South Wales and the South West compared to the rest of the UK expect adverse conditions including freezes in salary (42% compared to 28%) recruitment (46% compared to 28%), job cuts (45% compared to 32%) and salary decreases (6% compared to 4%). Despite this, two-fifths of members in the region are expecting an increase in business profits, which is on a par with the UK average.
The regions Chartered Management Accountants and students looked at setting goals to tackle issues for 2012 at a CIMA Event at the Future Inn Cardiff Bay, Hemingway Road, Cardiff, hosted by Ken Abram , Managing Director of the Abram Partnership in Cardiff on the 24th January. Ken is a speaker for CIMA, ACCA, CMI, Cardiff Business School and Glamorgan University Business School and is Chairman of the Yes Group Cardiff that supports personal development in Wales.
Ken Abram, managing director of the Abram Partnership in Cardiff and speaker at the CIMA event said, “There has never been a more important time to be setting goals. Can you imagine a football match without any goal posts, nothing to aim for? Just like in sport, those who have goals to aim for and goals for their lives both personal and business will have more fulfilling lives because they will have something to aim for. Don’t just pass the ball aim for success.”
Adrian Rutter, Area Chairman for South West England and South Wales said, “During these turbulent economic times, organisations are increasingly turning to finance professionals, and chartered management accountants in particular, to help drive them through the downturn and on to sustainable success in the future.”
CIMA run a series of events for students, members and guests throughout the South West of England and South Wales and across the UK on a regular basis across the year. For further information visit [www.cimaglobal.com/localevents](http://www.cimaglobal.com/localevents“ target=)