The coronavirus crisis has had a profound impact on all of our lives. Not just personally, but on our careers, our finances and our businesses too. As announced by both Scottish and UK governments, the lockdown continues. However, the time has arisen to start looking forward and planning how your business is going to get back on its feet after the crisis.
By the time the lockdown ceases completely, it will be too late to ‘start’ looking forward. Right now is the time to start considering the ‘Regeneration and Renewal’ of your business.
To help businesses prepare, CJM have been hosting webinars and intend to deliver over 30 online seminars until the end of May. This has and will continue to provide support across many subject matters to around 450 clients. Topics have ranged from financial planning to business loans, business grants, self-employed grants, questions on furlough and many more.
Coronavirus Business Support Information
We have sent out Grants and Funding support information to all our clients, ensuring they are aware of what grants and support they can apply for. We want to make sure that everyone is receiving ample support during what is a very challenging time for businesses.
The Government’s furlough scheme, whereby 80% of an employee’s pay (up to £2500 per month) will be covered by the government while a business is unable to operate, has been very popular among businesses. We have continued to support our clients who have had to furlough their staff and are continuing to advise them as the situation develops.
Things Businesses Need to Consider After Coronavirus (COVID-19)
Money developing a budget for Year 1 post and what support may be available.
People how to re-engage your staff and rebuild that team culture.
Everything else; A plan for everything else – i.e. in effect, strategy and marketing theory.
You need to consider all aspects of your business including:
- Financially Managing your Business
- Bookkeeping
- Reviewing your Office Apps and accounting software – using cloud
- Expenses and how you manage them
- Human Resource issues and the financial impacts
- Business Strategy during a crisis
- Marketing your Business during a Crisis
- Marketing/communicating with your customers
- Adapting Your Business Model to Survive in Challenging Times
- Considering phased reopening.
CJM have supported over 400 companies and businesses access grant funding through the rates relief scheme during the crisis. We have been part of national conversations to how best to support business going forward and to reach for every opportunity in this changing and continuously developing environment.
Therefore, if you wish to consider what are your next steps, the financial impacts of them and the funding you may need, please do not hesitate to contact us.