The impact of the pandemic has been severe for many pubs and retailers across the UK.
SMEs are the backbone of any healthy economy; they drive growth, provide employment opportunities and open new markets.
Much to the relief of business owners across the United Kingdom, life is slowly but surely returning to normal as the worst of the coronavirus pandemic seems to fade.
It’s not just about the bottom line anymore, with businesses needing to focus on other global, national and local issues too.
COVID-19 has turned the worlds of small businesses upside down. So much so, that even before lockdown commenced, hotels and bars were seeing revenue drops of 50-60%.
As a business grows, takes on new clients, and brings in new staff, it naturally becomes more complex.
Pranav Sood, VP of Small Business at GoCardless, speaks about how the coronavirus pandemic has transformed the future for small businesses
Right now, business owners and employees are facing threats such as bankruptcy and redundancy.
As the lockdown restrictions ease, the Government has given more businesses the green light to start operating again, provided they can observe the necessary social distancing and infection control measures.
There’s a temptation in responding to the COVID-19 events as organisations and economies seek to recover, that the sole focus is the financial imperative.