Bank says recession helped some businesses adapt

The head of commercial banking for HSBC has suggested that UK businesses have shown the ability to adapt as they look to expand out of recession.

Noel Quinn spoke following a survey by HSBC which revealed how company bosses in Britain believe the two most important qualities needed to drive growth would the ability to innovate and to be adaptable.

It is these qualities that are seen by leaders as the key to making organisations “relevant today and tomorrow”, which is a point that may interest those who are responsible for HR strategy and practice.

Mr Quinn said one thing that gave him confidence for the future is the amount of expert activity occurring in the first few months of 2010.

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He also noted the “unique” thing to happen in this recession was the ability of UK companies to preserve cash better than expected and being able to reduce debt, as well as adapting overall business models in that time.

By Hayley Edwards