COVID-19: Who Will Guide You Through The Coming Recession?

It's astonishing, but thanks to the COVID-19 outbreak, the UK economy will undergo a 3% fall for the first quarter of 2020, and a dramatic 25% in the second. This is due, in part, to a massive drop in consumer confidence and stalling of the housing market ...

The modelling also includes a sales drop of 45% for many businesses and a reduction of 50% in business investment overall. There has been widespread take-up of the Coronavirus Job Retention Scheme, however, at the same time, there is a sharp increase in Universal Credit claims showing that a pronounced rise in unemployment is coming.

"However, the economy will restart, although in fits and starts as restrictions are lifted little by little!"

This means businesses need to start planning now on how to get their sales back up to speed, ready for the eventual demands for their products and services that will come in quarter three and four as lockdown is relaxed and eventually ends.

Everyone needs to continue to watch and listen to the guidance being given by our Prime Minister and his team at the daily briefings in the coming days and weeks.

The most important thing all business owners need now is good advice from someone who can help them through the coming recession and out the other side. A trusted advisor who's looking at each announcement the government makes and helping companies get back up to speed as quickly as possible!

Many of my own clients see me as their very own Business Godparent. I have many years of experience, not only as an accountant, but as a trusted business advisor to companies in a wide range of industries which gives me a unique perspective on the economy.

"I have a great team at Essendon to support me, and relationships with some of the best business advisors around!"

We've all been affected by the COVID-19 outbreak and we all need someone we can trust to help us through this. I'd love to offer my services to you as your very own Business Godparent so you can survive the coming recession and be ready to ramp up again once lockdown ends.

If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.