You can’t change what happened.

Do you have a vision for 2021 and beyond?

You can’t change what happened.

Do you have a vision for 2021 and beyond?
We cannot change what has happened regarding Business matters that did not pan out as expected. Remember, you cannot change what has happened, but you can help change what could happen next!
2020 has been the year of Covid-19 which has devastated the global economy as well as causing millions of deaths and possibly affecting the long-term health of those who have survived the disease.

How do we react to this event, its effects on the plans and aspirations of business owners who have had their business shut down to protect the spread of the disease or burnt down due to street protests? Do we despair or not? Where do we get encouragement that things will get better? How do we respond? Are there opportunities we should be considering?

The Black Death was an even worse pandemic than Covid-19, yet it set up, in the UK, the change from a feudal to a more open entrepreneurial society. I expect that Covid-19 will do something similar.

What will this change look like?

loading bar, 2021, new year's eve
More online?
The trend of working from home has increased the use of Zoom and Teams. This will continue due to the reduced travel times and increased productivity, but it will not eliminate the need for offices or places for businesses to congregate. Regis and similar providers of flexible office space will see growth in demand.

More focus on IT? The providers of IT support services have done well in the Covid-19 crisis. This will continue and there will be growth in demand for advisory services to advise on the optimum configuration and training in the new systems.

More focus on training staff? The training of junior staff has suffered from the shutting of offices and the lack of experienced people around them to learn from. This will adversely affect the employment opportunities of young people in the 16-24 age group. There will be opportunities to provide services to this group to help them to catch up. Perhaps virtual reality systems can be developed to simulate on the job training.

Investment in retail property? Retail stores will give way to more online shopping. There will be downward pressure on town center rents, rates, and car parking cost to attract the retail back into the town center. Innovative new retails stores will be the success story of the next few years due to their reduced costs.

Business acquisition opportunities. There will be opportunities to acquire profitable parts of businesses that have a sound underlying business but have debts that are too high and are unserviceable. These high debt costs will contribute to a substantial number of insolvencies and restructuring opportunities.

Confidence in the future will also be influenced by our outlook on life. A general positive outlook or a theological belief that puts our current issues in a providential divine context will reduce the risks of depression, stress, and other problems that have increased in recent months.
In Conclusion: Do not be despondent as there will be plenty of business opportunities in 2021 and 2022 from which we can all benefit and recover our financial position.

How do we react to this event, its effects on the plans and aspirations of business owners who have had their business shut down to protect the spread of the disease or burnt down due to street protests? Do we despair or not? Where do we get encouragement that things will get better? How do we respond? Are there opportunities we should be considering?

The Black Death was an even worse pandemic than Covid-19, yet it set up, in the UK, the change from a feudal to a more open entrepreneurial society. I expect that Covid-19 will do something similar.

What will this change look like?

Leave a Reply

Read more

Browse through our other blog posts

scaleupvsgrowth

๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ฏ๐ฌ ๐’๐œ๐š๐ฅ๐ž-๐”๐ฉ

Free Financial Health Check

Free Financial Health Check

ANALYSE YOUR BUSINESS

ย 

The more you examine what is true about your business, the better you will be at prioritising the areas that demand your attention. Here is a series of questions you can use as a starting point for identifying potential problem areas in your companyโ€™s financial system. This is not intended to be a full analysis, but rather a tool you can use to focus your attention. Take one question at a time and really think about your answers. This is not a test. There are no right or wrong answers. There are only responses that reflect your truthful objectivity about the state of your business.

Thank you forย requestingย your Free Financial Health Check.

ย 

Please check your email, it should be with you shortly.