Covid-19 resulted in business interruption on a scale never before witnessed, with entire industries ground to a complete standstill, while other sectors were faced with continuing to operate amidst heavily reduced demand for their products and services.
While many were about to heavily reduce certain outgoings, such as employees’ salaries due to the government’s furlough scheme, this lengthy period of forced closure still left many businesses across the country faced with having to keep up with other overheads on severely reduced takings.
As we adjust to a post-lockdown world, and businesses are given the green light to recommence their operations, it is becoming clear that a return to the ‘normality’ which we all knew, may take longer than previously anticipated. Changing consumer habits and customer preferences is going to make the road to recovery particularly challenging for a number of industries, especially those who rely on the custom of social groups and mass gatherings. Others may be able to bounce back more quickly, however, recovering from several months of low level, or non-existent trade, will still pose difficulties.