Tuesday 5th May 2020
Looking back a few months, to the beginning of the Coronavirus pandemic, could any of us have imagined the impact it would have on both our business and personal lives? As we enter week seven of lockdown, Tim Bowater our Head of Relationship Management gives his views on some key areas we should be considering as we wait to hear the latest Government’s plans for ‘safely’ relaxing lockdown.
Don’t assume you have to rush back to business as usual
Every business will have faced their own challenges, whether that be implementing social distancing in the workplace, delivering process changes in short timescales, dealing with Furlough, or ensuring IT and Telephony systems stand up to new demands of homeworking. My number one recommendation, as we start thinking about a relaxation of lockdown, is not to assume you have to rush back to where you were before. I believe the last six weeks will be a catalyst for change. Take some time to look at what has worked well, and consider if these new practices should continue, alongside the best bits of your business pre-Covid-19.
Keep up to date
Whatever your political viewpoint, the scale of the Governments support to business has been unprecedented. The daily News is awash with headlines, and it can be hard at times to know what support is out there, if it is right for you, and to keep up with the continued evolution e.g. CBILs followed by Bounce Bank Loans. However it is important that you do, to get the help and support that your business needs. We have signposted some of the headlines and useful links on our website to make this easier for you.
Stay in touch
Whilst it might feel overwhelming, trying to keep up with the pace of change, keeping in touch with your finance providers is vital. Each week may bring new twists and turns in business, and maintaining an open dialogue will ensure that both you, and we, are all in the best place to understand and react to these.
I hope you have found these tips useful and that you and your family are managing to stay safe during these very different times.