Companies located in well-managed London offices are likely to succeed and profit despite the current economic climate, it has been claimed.
Businesses with commercial property in the capital which can manage effectively will survive the downturn, according to the British Chamber of Commerce (BCC).
David Kern, economic advisor for the organisation, says that “recession tests management” and that now is a time when these kinds of skills will be most important.
Speaking about the new Westfield Shopping Centre in west London, Mr Kern said that large developments can help boost an area’s economy but also increase competition.
“Any investment helps the economy,” he said, adding: “Like anything else in economics there are pluses and minuses.”
“The investment is positive in the fact that there is something exciting for an area… on the other hand some traders will have more competition.”
He also said that businesses should not feel too gloomy about the recent economic downturn, commenting: “We have seen worse situations in the UK and I think there is too much hysteria.”