COVID-19 has been and continues to be the most globally disruptive event of our generation. Businesses are actively making critical decisions to navigate through a sudden change in economic landscape. With great uncertainty on time frames, businesses are not only managing through the current ‘lock-down’ phase, they must also manage through a possible ‘recessionary’ phase in the aftermath.
Over the coming weeks, one of the ways we aim to provide you with support is through sharing both defensive and offensive insights from our clients, partners, business social media and industry leaders.
We hope that this provokes ideas around how to unlock some challenges you may be faced with. We feel there is value in communicating with each other now more than ever. To this end we will be talking to you over the phone, on email and through a series of micro-surveys.
We will collate responses and provide anecdotes back to the wider audience as well as insight pieces on particular themes and industries. In order to drive quality insight, we ask you to complete the survey below, and would gladly take feedback around how we can capture information relevant to your business decisions. We will be producing industry specific thought pieces.
Please find a generic snap shot of current client concerns below :-
- Logistics – how do businesses meet the increased consumer demand for food and essential supplies. We are hearing that so far production continues but distribution is difficult.
- Supply chain - What’s the current status with supply chains – we understand some shipments are now leaving China but how widespread is this. Which routes are open, are they affordable? Lock-down and port closures are high on the agenda.
- People – businesses are naturally feeling the impact of illness and self-isolation so how can they continue to provide the service they are known for with a reduced workforce. How to best use the government salary support funding and whether the residual costs over an uncertain time frame justify difficult head count decisions.
- Government support – how easy is it to obtain the emergency funding? How are people accessing this? What is the current impact of the grants and borrowing facilities, staffing and VAT assistance available. How quickly are the benefits being seen? What are the drawbacks?
- Typical funding routes – are they still open? How does this vary by sector and nature of the funding request. We understand that some of the alternative funding routes are being curtailed and focus of private equity funding is changing. Will access to funding change and how will banks react.
- What are my legal obligations – what terms can I rely on in my supplier and customer contracts which are relevant at this time. Clients are considering whether force majeure clauses are invoked in this environment.
- What will happen to customer demand going forward – will those sectors that are benefiting from increased demand now need to manage a drop off in demand later. How quickly will those sectors that are suffering from reduced demand now be able to pick up later. How can you manage forecasting of supply / production accordingly and what does this do to cash flow ?
- Insight from industry leaders on how they managed through 2008. What can we learn from previous experiences?
Participate in the survey: https://www.surveymonkey.co.uk/r/MNQRGRH