LONDON, UK: Despite the doom and gloom, now is in fact one of the best times for companies to invest. By investing now, companies can secure their long-term future and come out of the recession in a great position, says Malcolm Penn, Chairman and CEO of Future Horizons.

“R&D is always one of the first things to get cut in times of economic crisis,” says Penn. “But by doing this companies are harming their long term future. If they don’t continue to look forward now, they will be behind the competition in 12 months time, and find themselves in even greater trouble. While the short term gains of cost cutting are obvious, in the long run it will come back to bite. By taking the lead now companies can seize the initiative, and come out of these difficult times in a strong position.”

Penn was speaking ahead of the 2009 Forecast Seminar that is taking place in London. “A lot of the hysteria in the news we read is being generated by those close to the story,” he said. “As Future Horizons is entirely independent, we are able to offer balanced and measured views on the industry as a whole, not panicked predictions to generate headlines. With such a massive range of experience we are in the best position to predict what 2009 will bring.”

Now in its 11th year, the Future Horizons Industry Forecast Seminar takes place in London on Tuesday the 27th of January.