Short-term pain for long-term gain?
For many businesses, particularly those predominantly exposed to the domestic economy, 2010 has been another hard grind of a year with the advent of spring bringing with it little obvious evidence that we are about to shake off the shackles of a prolonged economic chill any time soon. But perhaps we can take comfort from some perversely prophetic forecasting by ANZ Bank’s chief economist Cameron Bagrie early this year. “If 2010 is a tough year, then I’ll be euphoric over prospects for the subsequent five.”