Opinion: From our Readers - Be realistic rather than optimistic

PRWeek editor Danny Rogers speaks of a genuine cause for 'optimism' (Opinion, 3 September).

I am much more cautious and I would characterise my position as that of a 'positive realist'.

I agree that PR consultancies are in good nick, that we have learned some pretty basic rules of management and have broadened our services, which makes us less exposed to the ups and downs of the economic climate.

But the US economy and much of Western Europe - in particular the UK - still face some formidable economic challenges.

Those consultancies, for example, that are primarily in the UK are going to have a tough time. Our Prime Minister is absolutely right to attack the UK deficit with all his energies, but the social and economic effects of his policies will be greater than anyone under 40 can imagine and will be felt for a couple of years.

Do not let the word 'optimism' suggest that we can for one moment take our eye off the cost line of our businesses because if we do, we will be heading for a rude, unpleasant awakening.

Be realistic - the global economy is very uncertain. But be positive in keeping the margins up, the overheads low and remember that cash is more important than profit any time.

Lord Chadlington, chairman, Huntsworth

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