Crisis main consequences?

The cold wind blowing from the States last week will surely bring a slowdown in spending on technology. The financial sector, mainly banks and investment firms, would cut their spending by as much as 10% in 2009, according to TowerGroup. But finance will not be the only sector hit, others will follow, driving a global economic downturn across many sectors in businesses but also from consumers. Uncertainty will weigh on the markets for a while. IT spending being generally a percentage of the company revenues, if revenues decline, mechanically spending will decline too. The main impact will be on employment, and more specifically with established and large companies, less flexible and reactive. Start-ups will be hit too, but in a different way. Their flexibility will probably avoid them with staff problems, but they will be hit by a chaotic access to the financial and public markets. The lack of liquidity will prevent most of them to go public and IPOs would be freezed for a while.

The sky is dark again. When will the sun be back? Wait and see.....