Originally written by Stuart Crook on Small Business
July 4 marked the most recent phase of coronavirus restrictions easing in the UK, which allowed for pubs, restaurants, and private events to return to trade post-lockdown. Engineering, construction, and non-essential retail had already re-opened, however many are discovering that it isn’t simply a case of “business as usual”.
The Government has offered many different forms of financial aid during the pandemic to help businesses weather the economic freeze, including the Coronavirus Job Retention Scheme (CJRS), Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loans (BBL), which have all been greatly received. However, even with businesses opening their doors to the public again, there are new rules and restrictions in place which must be followed which will impact on the bottom line of businesses and squeeze margins.
So, the challenge now isn’t so much restarting operations, but finding a way to do so profitably.
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Demand for sales
The Government was praised for its £330bn war chest at the beginning of lockdown to help businesses survive and protect the nation from mass unemployment. The idea was that it would protect the economy and ensure