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What can businesses do now to prepare best to survive and thrive as we come out of the Covid-19 lockdown?

The lockdown has been a shock to business. People are predicting the worst downturn in the economy in 300 years. If firms are to survive, what steps can they take? Here’s a start with a few suggestions:

  • re-evaluate your overheads – do you need to spend what you did before (on property for example)?
  • re-evaluate how you produce your work – can you do it smarter at lower cost of production?
  • re-evaluate how you deliver client care – they’ve got used to the convenience of visiting you remotely, it’s more convenient for them – the competition for clients when the lockdown will be fierce
  • re-evaluate how you meet your compliance obligations – do changes allow you to do this in a more slick manner (remote viewing, signatures etc)?
  • re-evaluate business continuity and distaster recovery plans
  • how will you ensure staff safety as the lockdown is eased (PPE, social distancing, cleaning surfaces etc)?
  • consider what you want to achieve – do you want to stay in business? If you actually want to find a buyer for your firm do some housecleaning & prep. If you want to expand, decide what you’re looking for.

Just a few thoughts – what others should people consider?

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