The UK business landscape will never return to its pre-recession state, according to a report by leading economists.
The prediction comes in a new report published by accountants BDO, which compiles forecasts from other organisations including the CBI and Institute for Public Policy Research. Many of the compiled opinions suggest that business managers must brace themselves for a wholesale transformation of the UK's economic environment.
According to the report, "the world is changing, and there's a need for UK businesses to reinvent themselves if they are to survive."
BDO partner Paul Hemington goes on to say: "We are going through a period of profound societal and technological change which will mean that some business models will wither away and die, while others will thrive and grow."
But the report also suggests that business managers are "blinkered" to the realities of a post-recession Britain. Some 44 per cent of those surveyed said their business models would remain fundamentally the same for the next five years, and that they would return to "pre-recession normality" within two.
The UK was amongst the last major economies to emerge from technical recession. Most predictions see only anaemic growth over the course of the next year.
