Giving Oxford Business an Upturn in a Downturn
Oxford has a number of key industries from academia to motor manufacturing through to biosciences. Today we ask, how will the recession affect Oxford businesses and what can they do to beat it?
There are two universities in Oxford, The University of Oxford and Oxford Brookes University. The University of Oxford is the oldest university in the English-speaking world and is always ranked within the world’s top ten universities. With a combined population of over 38,000 students from all over the world, the universities make a significant contribution to the businesses in Oxford.
Tourism is also a key industry in Oxford attracting millions of visitors each year to take in the rich architecture and historic buildings. Alongside tourism and academia Oxford also boasts a rapidly developing I.T. and media sector and a thriving biosciences sector. There is also a more traditional industrial base in the motor manufacturing industry with the Mini Cooper being built in Oxfordshire.
The effects of an economic downturn look set to have a varying degree of impact on Oxford’s different business sectors. Many commentators judge a recession to be two consecutive quarters of negative growth so in many people’s eyes the UK is now in recession. Many people have said that Oxford will feel a lesser impact of recession than other areas as a result of its highly skilled workforce. Oxford has however seen a rise in unemployment and sales in the manufacturing and service sectors have slowed.
Tourism in Oxford also looks like it might struggle as people choose to stay at home and save their pennies. This can however be looked at from two different perspectives, whilst international visitor numbers may fall as a result of financial travel restrictions; visitor numbers from within the UK may rise as people look to holiday within the UK to cut their travel costs.
Amongst the doom and gloom of economic downturn and recession there remains opportunity for growth and development using the Internet. At a time when consumers are looking to shop around for prices it will be essential to have an Internet presence showing what your business can offer. With patterns of consumer spending changing everyday and centring around the Internet, can you afford not to be online? Internet advertising and business websites will become key to businesses looking to survive, grow and develop as it becomes harder and harder to attract new customers.
By advertising on the Internet, you can reach a wider base of customers that are actively searching for a product or service; your advertisement will be available to them at any time of the day or night. It is a flexible and cost effective way to advertise your business and your advertisements can quickly transfer into sales which could otherwise fall to your competitors.
With many people turning to Internet as their first port of call for information and research, an entry on Activ Oxford can make your business stand out from the crowd. The simple categories that our businesses are divided into makes it easy for potential customers to find you. With the ability to upgrade your listing to featured or sponsored, you can make sure that your business has full exposure on the Activ Oxford Home Page.
"Giving Oxford Business an Upturn in a Downturn", was submitted 04/13/2009 under category Business.
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