As a local businessman I would like to comment on the recent article ‘Recession, what recession?’ (Cyprus Mail, August 28).
As a local businessman I would like offer my general support to the comments of Finance Minister Charilaos Stavrakis, and totally agree that too much talk of doom and gloom can do nothing but harm.
In my personal opinion many speculators that drove the world to the brink of financial collapse with endless talk of a never-ending boom are now talking up a collapse – and probably for their own greed and further gains.
While there are some obvious structural problems with the local economy that need to be urgently dealt with, Cyprus has so many of the fundamental advantages over many of its European competitors, that a full blown recession such as in the UK and Spain should be very easy to avoid – but only if we do not talk ourselves into one.
From the viewpoint of my own small company, I have never been busier and a large part of my business is coming from the local Cyprus market, as well as exports to other parts of Europe and especially the Middle East. July was the busiest month we have ever had since the company was started three years ago, so yes: recession, what recession?
I operate a very strange ‘old-fashioned’ type business in that we design and custom manufacture products (as opposed to speculating on the stock market). It is not impossible to figure out that if you make a good product at a sensible price then there is still plenty of business out there if you go and look for it. Not easy, for sure, but made a lot easier when others talk themselves into giving up or not trying.
Perhaps there is a lesson to be learned here for the general economy, as there seems little point to me in competing in area such as mass tourism or cheap housing as other countries can do it much better then Cyprus. Why should it anyway, when the island has a fantastic climate and a geographic location that the rest of Europe would love to have?
Re-brand yourself Cyprus as the upmarket Western gateway to Russia and the Middle East. But get on with it quickly, before old problems catch up with you.
Andrew Beresforde
Sensations Lighting Products Ltd, Limassol
