Every single person in the United Kingdom has experienced the merciless nature of COVID-19 in one way or another. From taking loved ones to crippling our high streets, the Coronavirus pandemic has taken its toll on us all.
As a business owner, you are looked to for leadership every single day of the week. When the pandemic first started this role was taken to a new level. You have to provide leadership in a time where uncertainty is all around us.
What Does This Mean For Businesses
The plans for your business must take into consideration the likely event of another lockdown. For sectors like hospitality, this may mean running with a reduced workforce and new safety procedures. In other sectors such as IT where working remotely is possible, the business will likely continue as usual.
In the following section, we will be breaking down the effects this next stage of the pandemic will have on key sectors such as hospitality and travel.
What Does This Mean For Hospitality
Hospitality was one of the hardest-hit industries by the pandemic. With an ever-evolving set of rules and regulations that your business must abide by, planning for the future is practically impossible. In the event of a lockdown your business must account for reduced travel, therefore, fewer people visiting your establishment.
What Does This Mean For Travel
Travel is another industry that has been hit extremely hard by the pandemic. Battling a growing list of red countries, travel has become extremely complicated. Whilst travel within the UK has grown, abroad travel feels practically impossible. Keeping on top of the latest travel news and regulations will be key for allowing this industry to recover.
Planning For The Future of The Pandemic
It is still very difficult to create business plans for the future. The announcements offered by the UK government are very vague and give no real clarify to business owners. What we do know is that cases are rising, this will most likely result in a new set of rules and regulations which limit travel, entertainment and gatherings indoors.
How Can You Protect Your Business
If your business has managed to get through the last two years then it’s likely that you can get through the next stage of the pandemic. We now know a huge amount more about this disease and how we can protect ourselves from it. With this knowledge, business plans can be tailored in favour of continuing to operate business as usual whilst being as safe as possible.
Binding With Others In The Sector
At times like these, binding together with businesses within your sector can hugely benefit you in the long run. Understanding what others are doing to battle the change in the landscape can lead to you making better decisions on how to run the business moving forward. These businesses are no longer “competitors” they are a community of similar businesses all facing the same problems as you.
Insurance for Your Business
Investing in the correct level of insurance cover is a must. Now, more than ever, the chances of claims are extremely high and without the correct level of cover in place, you may be vulnerable to financial losses. Included within your policy look for insurance products such as event cancellation and supply chain interruption as these are going to be likely as we move into a new stage of the pandemic. Policies like commercial building insurance
Constantly Adapting Business Plans
As the rules and restrictions around COVID-19 change so rapidly, your business must be agile to stay ahead of any changes. This means weekly or even monthly reviews may be appropriate. By keeping your business plans dynamic, you gain total peace of mind that your business can handle any industry-wide changes that come your way.
Surviving The Next Stage of The COVID-19 Pandemic
The Coronavirus pandemic is far from over, but one thing we can be sure of is that there is light at the end of the tunnel. Although cases are currently high, they will drop again. The push-on vaccination will ensure the long term safety of the public, therefore, reducing the need for harsh restrictions that will impact your way of doing business.
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