During July I posted a video highlighting 3 key issues for businesses to address coming out of lockdown; and at the beginning of the month, it had a ‘back to work’ feel about it, with schools returning and offices opening up. It doesn’t seem to have taken long for that bright feeling to evaporate, with infection rates rising and a tightening of lockdown restrictions now being announced.
So, what does this mean for businesses and how do business owners respond to changing circumstances? Although the Chancellor has offered some further support – and we await the Banks and HMRC’s practical interpretation of these -, I believe the 3 key issues I highlighted are still relevant:
One cannot guarantee survival in these challenging times, but we can guarantee that management teams that address these 3 issues will have a far better chance of surviving, and more than likely, prosper than if they ignore them.
For more information or to discuss your financial management, forecasts and planning, please do not hesitate to contact Playfair Partnerships.
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Senior Partner, Playfair Partnerships
My earlier video: