BCC director general John Longworth acknowledges that a slowdown across the Eurozone is ‘inevitable’, but Britain does not need to suffer the same fate.

Longworth suggests a number of measures to kick-start what he describes as the ‘threat of stagnation’ including a reversal of the ‘punishing’ 5.6 per cent rise in business rates that are due to be introduced in April 2012, and a reduction in employer National Insurance contributions.

He adds that business should not only play a role in the future of the economy but also the boosting of local communities.

Longworth says, ‘If we fall behind, the future could be very different for our children and grandchildren. Britain does have the potential to recover and make its way in the world.

‘We have the talent, the energy, and the enterprise. All we need is an environment that puts business first.’

Will Davies, co-founder of property management business Aspect, adds that now is the time for ‘business to be bold.’

‘There comes a point when we have to stop continually talking of spending cuts and double dip recessions,’ he says.

‘Now is the time for the public to have some confidence in our business future and for businesses to be confident enough to invest.’

The move by the government to turn to private companies to fill gaps left by spending cuts is an area which Davies says will provide ‘new opportunities’ for many businesses.