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JÜRI KÄO: IT´S TIME TO ACT
The majority of Estonia's leading economists and businessmen interviewed by Äripäev believe that 2011 will be a challenging, but positive year in business and economy, and now is the time to expand and invest, writes Äripäev.
www.bbn.ee, 04.01.2011, 11:08
The majority of Estonia's leading economists and businessmen interviewed by Äripäev believe that 2011 will be a challenging, but positive year in business and economy, and now is the time to expand and invest, writes Äripäev.
Jüri Käo who owns, among others, Tallinna Kaubamaja Group, says that he has a good feeling about 2011. "I believe that it will be a good year and all businesses will grow. But don't ask me by how much," said Käo, adding that because of the euro changeover, retail volumes could remain modest.
"People are in shock and are not yet ready to spend. Figures are small and psychological barriers take time to remove," he said.
Käo said that the positive trend is set to continue this year and unemployment will decline. "Once jobless rates start falling, other things will get better as well. There will be new demand and the domestic market will expand. I am optimistic. Sales and profit figures will grow for all businesses, especially exporters," he said.
"Entrepreneurs should look at developing their businesses with an open mind. Tough times have put them into a stress state, but now is the time to make growth decisions, otherwise one risks to fall behind of competition. Businesses should be more innovative and invest in development including in new ideas and concepts. The world has changed and after the crisis everything is different," said Käo adding that businessmen who don't focus only on Estonian issues and look at the world with eyes wide open will be successful.
Speaking of his main investment company, NG Investeeringud, Käo said that one objective is to gear production companies towards exports.
On the topic of wages, Käo said that they are set to grow, but not before the second half.
