Economic Environment. The current economic environment continues to be a challenge for all partners, particularly with a cut in budgets for the Urban Regeneration Companies in Scotland and in the Housing Budgets. This makes it all the more difficult for the partners in the Alliance to deliver the outcomes set out in this SOA. It is anticipated that the real reduction in spend for the public sector, by 2017/18 will be 18%, against a backdrop of increased demand for public sector services. The funding gap is projected to grow from £1.8 billion in 2013/14 to approximately £3.5 billion in 2017/18. Local Government Finance and Demand 2009/10 - 2016/17 (% real terms) 25 Income - Previous Projection Income - Post Autumn Statement Projection Demand - Previous Projection 0 Demand - Post Autumn Statement Projection 2009/2010 2010/11 2011/2012 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 -5 -10 -15 -20 These pressures make delivering on priority outcomes for the communities of Inverclyde increasingly difficult, meaning that partners are going to have to look at innovative ways of delivering services, bringing budgets together, whilst developing early intervention and preventative spend projects to ensure positive impacts in the longer term.
Economic Environment. According to recent data, the ICT sector is directly responsible for 5% of European GDP, with a market value of € 660 billion annually11. The development of this sector in Europe is reinforced by the policies implemented and promoted, such as the Digital Agenda. This sector is of crucial importance for the future of the European society, not only as an industrial sector per si, but also due to its usefulness and relevance for the competitiveness of other economic sectors. In fact, more efficient modular software and ICT services that are tailored for companies and private individuals will be increasingly in demand throughout Europe and worldwide, with growth of at least 6 %. In addition, there will be greater emphasis on targeting specific user groups, such as women or senior citizens12. Regarding the Health sector, it is expected that the expenditure on health and long-term care as a share of GDP could almost double between 2005 and 2050 on average across OECD countries13. Having into consideration the ageing population of Europe, it is expected that this expenditure increases in the future14. Therefore, solutions that can help tackling this situation or contribute for reducing the public health costs can bring added-value into the market.
Economic Environment. Only the economic resources that were potentially affected by the ACOBAR Experiment’s activities have been included in this assessment.
Economic Environment. The Company’s operations could be affected by the economic context should the unemployment level, interest rates or inflation reach levels that influence consumer trends and consequently, impact the Company’s sales and profitability. As well, general demand for banking services and alternative banking or financial services cannot be predicted and future prospects of such areas might be different from those predicted by the Company’s management. The Company Business is dependent on the acquisition and retention of various licenses. The Company Business is dependent on obtaining various licenses from various municipalities and the state licensing agencies. There can be no assurance that any or all licenses necessary to operate the Company Business will be obtained. If a licensing body were to determine the Company had violated the applicable rules and regulations, there is a risk the licenses granted could be revoked, which would prevent the operation of the Company Business. Further, there is no guarantee the Company will be able to obtain any additional licenses necessary to expand the Company Business. The Company’s management team or other owners could be disqualified from ownership in the Company. The Company Business is in a highly regulated industry in which many states have enacted extensive rules for ownership of a participant company. The Company’s Managers or other owners (which could include the Members of the Company) could become disqualified from having an ownership stake in the Company under relevant laws and regulations of applicable state and/or local regulators, if the applicable Manager or owner is convicted of a certain type of felony or fails to meet the requirements for owning equity in a company like the Company. The Company may have difficulty accessing the service of banks and bankruptcy protections, which may make it difficult for them to operate or unwind. Since the use of cannabis is illegal under federal law, there is a compelling argument that banks cannot lawfully accept for deposit funds from businesses involved with cannabis. Consequently, businesses involved in the cannabis industry often have trouble finding a bank willing to accept their business. The inability to open bank accounts may make it difficult for the Company to operate and the reliance on cash can result in a heightened risk of theft. Additionally, some courts have denied cannabis businesses bankruptcy protection, thus, making it very difficult for lenders to ...
