Preparing for a second lockdown
With cases rising and hospital admissions increasing, a second lockdown was inevitable. The whole of England will now be on a lockdown from 5th November through to the 2nd December so businesses need to think about how they can prepare for this second lockdown.
What does a second national lockdown mean? Just like the first lockdown imposed in the spring, pubs, restaurants, and non-essential shops will close, along with entertainment and leisure venues. However, Schools, Colleges and Universities will remain open this time and people will be able to meet with one other person from another household outside.
This second lockdown will pose a threat to businesses, especially for those businesses that are already struggling. Boris Johnson announced that the furlough scheme would be extended for another month (it was due to end in October). We are hoping the Government will make a similar announcement of further support for the self-employed, on top of the extended scheme where they will receive 20% of their average trading profits.
How can businesses prepare themselves for a second lockdown?
- Adapt your business to work remotely, hopefully this has already been set up from the first lockdown but think about how you can continue to run your business.
- Communicate with your customers so they know how you will be operating your business; will you now be offering a takeaway service? Can they order your products online?
- Check your finances, keep on top of your cashflow and look at your outgoings for the next few months. Make sure you are accessing all of the support available from furlough and grants through to loans and tax relief.
- Use any spare time to plan for the future, take this opportunity to review your business and where you would like to be.
If you need any support or help with navigating your business through this difficult time, please get in touch with the friendly Clear Vision Financial Management team, call us on 01794 330025 or email us.