As I write this fully aware that the media and internet is buzzing with analysis and opinions on the “budget from hell” on reflection perhaps it hasn’t hit the cosy world of IT too badly.
Yes we are entering unchartered territory with public sector cuts greater than ever before and the uncertainty of the impact of the 2.5% VAT hike on the business world at large.
BUT there are reasons to stay optimistic, the budget is strongly focused on boosting business in the UK, Corporation Tax is to be cut by 4% and between now and 2016 £13bn will be invested in business with a focus on small businesses.
What’s more as an industry that is constantly facing pressure to reduce costs and increase efficiency; the IT Sector is better placed than most to weather the storm.
The two pillars of cost savings and increased efficiency, Cloud Computing and Virtualisation, will be even more appealing to both public and private sectors; with the gloomy reality that we have years of belt tightening ahead the fact that these technologies lead to long term savings rather than a short term “quick fix” will be even more enticing; not just to the IT department but those responsible for the bottom line in companies of all shapes and sizes.
Tony Dyhouse, cybersecurity programme director for the Digital Systems Knowledge Transfer Network, quoted in Computer Weekly also suggests that is not all gloom and doom as clever companies will use their initiative to find less costly ways to fortify their defences; such as educating people about the value of data and the risks of data loss in an effort to strengthen the weakest link in the security chain – human beings.
So the sun is shining, we are in the midst of World Cup fever, maybe things aren’t so bad…..