Davos is important but spare a thought for bedrock businesses back home

We need a renewed focus on fixing the fundamentals to create a business environment that supports continued expansion

This week the great and the good have converged on Davos for the annual World Economic Forum. As they seek to divide and conquer the world between them, it is worth sparing a thought for businesses that are the backbone of the economy, fighting to grow and thrive.

Amid an increasingly uncertain global outlook, a softening domestic economy and some disappointing policy decisions here at home, it is these bedrock businesses -not just the global elite - who should be front of mind. Confidence is essential to economic growth. Low interest rates and stable governments over the last few years have helped to reassure both UK firms and external investors that it is safe to invest, take risks, and pursue new opportunities.

Related: David Cameron told to put fixing UK economy ahead of networking in Davos