Andrew Marsh, Engineering Director at ezimethods.com, talks about the importance of planning for your business’ future at this time of COVID-19 so that when it is ‘business as usual’, we will all be ready.
Right now, we are awash with media attention around COVID-19, and I know many people are deeply concerned for their family as well as friends. Should we be planning? Is there space for anything else?
Yes, there is.
We certainly face immediate concerns around the economy, which has and will eclipse anything we thought about COVID-19. For many, cash is running out, while others are reflecting what to do. We must remember above all that we have the strength of character, and the biggest show of this strength is what we do when everything around us appears to be changing.
For those who need economic support, HM Government are making provisions to assist businesses. While in many cases, those provisions amount to loans, and we need to carefully balance how we can hibernate business or re-purpose what we do – this ranges from individuals right the way through to business owners.
Best of all, we can do this without spending one penny.
For many of us with enforced isolation from our workplace, it has meant spending more if not quite all of our time in our homes. The majority of us have remained relatively healthy, and as terrestrial television fails to meet our needs and the endless box sets/films become a blur, we need to feed our minds.
We can start with what excites us about our business. This requires some reflection, some peace to quantify that feeling, and then to think about what we want out of life in the near future. Make no mistake, the economy has to – absolutely has to – restart, and do so by mid-year. If it does not, the tax-funded services will be impacted. It’s all well and good to look to authority in emergencies, but our economic activity is the powerhouse of the economy.
Are we going to be ready?
Broadly, even though the emergency is evolving day by day, we know reflation of the economy must begin as soon as possible, and HM Government will have to assist us all in that process. Knowing that by mid-2020, there will be activity, should we look at how our businesses function and think about – possibly even correct – those processes? When was the last time we knew business would be effectively closed for more than one month?
Why should we prepare? The transition to economic activity will come as quite a shock, and many of us will be busier than ever before. It will not be an overnight process, but we have to make the very best of every single business opportunity in the very near future. That’s why if we want to make changes to the business – our methods of accessing on-line partners, those business partners who are not yet prepared to discuss anything, how we process vehicles – need to be thought through right now.
This is not an invitation to get the credit card out, but it may be some investments are required as a result of this reflection on what we do for a living. One thing is clear. Get ready. The UK is going back into business, and we are part of that.
If you would like to contact Andrew, please visit ezimethods.com or email:
Andrew Marsh, Engineering Director: email@example.com
Ben Cardy, Commercial Director: firstname.lastname@example.org