Originally written by Anna Jordan on Small Business
A significant proportion of small businesses wouldn’t be able to survive a second spike of COVID-19, according to new research.
Sage’s latest report, ‘Survival, Resilience and Growth: placing small businesses at the heart of the UK’s economic recovery’, says that 86 per cent of respondents believe a second wave would have a negative impact on their business. Meanwhile, 39 per cent say that it would be severe and a further 15 per cent say their businesses could not survive it.
What’s more, one in two SMEs say they’re not confident they oculd handle a 20 per cent drop in revenue between now and September. A significant number (39 per cent) of businesses aren’t even sure that they’ll return to profitability by December 2020.
These businesses say they would struggle with other issues like a decrease in customers, losing key talent, cyber security and disruption in their supply chain.
Problems will also arise in the early months of 2021 as businesses will need to make payments that have been delayed due to the pandemic.
Dealing with a second spike or coronavirus and other challenges
Small firms are relying on preparation, liquidity and digitisation to protect them against future crises.
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Tag Archive for Business Management
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How to reopen your gym, pool or leisure facility post lockdown
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
The Government has announced that gyms, pools and other leisure facilities in England can reopen from July 25th.
Culture Secretary Oliver Dowden also said that tattooists, beauticians and nail salons can reopen on the same day.
As well as general COVID-19 safety advice, such as encouraging contactless payments and putting up signage to highlight social distancing, the Government has issued specific guidelines for leisure facilities.
The full guidelines can be found at the Gov.uk, but we’ve picked out some of the ones you should know about.
Visiting instructors, coaches, teachers, and management
If you’re running class or personal coaching sessions, keep these in mind:
Consider limiting the number of classes that rotating instructors teach in order to minimise exposure
Determine the number of facilities they are comfortable with instructors rotating amongst in order to minimise exposure. Establish a system for monitoring this
Given the high risk of transmission from visiting instructors, where possible, establish a private testing programme for rotating/visiting instructors
Contact while using facilities
Fitness spaces
Pieces of gym equipment should be an appropriate distance apart so as to comply with social distancing guidelines and with a suitable margin for adequate circulation or one-way routes. This can be achieved by moving equipment,
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How to reopen your restaurant, pub or hotel post-lockdown
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
UPDATED: Boris Johnson is expected to announce next week that the two-metre rule will be relaxed from July 4 and that pubs, restaurants, cafés and attractions can reopen post-lockdown.
For independent bars and eateries, the difference between the two-metre rule being enforced and one-metre social distancing is the difference between viability and the 2.8m hospitality staff currently on furlough not having a job to go back to, according to trade body UKHospitality.
The hospitality industry and the Government will also publish guidance next week as to how to reopen your restaurant, pub or hotel post-lockdown.
The guidance does however allow some flexibility rather than a one-size-fits-all approach, as seen in other business sectors.
Kate Nicholls, chief executive of UKHospitality, told the Today programme: “What we understand so far is that they are looking to reopen our businesses on July 4 with appropriate guidelines in place that will allow individual premises to undertake a detailed risk assessment and propose and put forward the control measures that they feel are necessary to keep their team and their guests safe.”
According to the draft post-lockdown hospitality sector guidance, obtained by The Times:
Pubs
Limits to the number of people allowed into pubs with markings
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How to reopen your restaurant, pub or hotel post-lockdown
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
UPDATED: Boris Johnson is expected to announce next week that the two-metre rule will be relaxed from July 4 and that pubs, restaurants, cafés and attractions can reopen post-lockdown.
For independent bars and eateries, the difference between the two-metre rule being enforced and one-metre social distancing is the difference between viability and the 2.8m hospitality staff currently on furlough not having a job to go back to, according to trade body UKHospitality.
The hospitality industry and the Government will also publish guidance next week as to how to reopen your restaurant, pub or hotel post-lockdown.
The guidance does however allow some flexibility rather than a one-size-fits-all approach, as seen in other business sectors.
Kate Nicholls, chief executive of UKHospitality, told the Today programme: “What we understand so far is that they are looking to reopen our businesses on July 4 with appropriate guidelines in place that will allow individual premises to undertake a detailed risk assessment and propose and put forward the control measures that they feel are necessary to keep their team and their guests safe.”
According to the draft post-lockdown hospitality sector guidance, obtained by The Times:
Pubs
Limits to the number of people allowed into pubs with markings
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The #1 Management Mistake in Business and Potty Training
by Jason Feifer • • 0 Comments
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How to do a coronavirus risk assessment on your small business premises
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
As businesses start to reopen, the safety of your staff, customers and your suppliers is a priority. One of the first areas to address is your coronavirus risk assessment.
The government has published a series of eight guides to help businesses to reopen across key sectors.
We’ll delve deeper into how you conduct your own risk assessment to ensure that your business is COVID-19 secure.
When should I be doing a coronavirus risk assessment?
If you’re already trading, you need to do it now to prove that you’re working safely. Those who have more time would be wise to carry one out now too.
You have an obligation under Section 3 of the Management of Health and Safety at Work Regulations 1999 to do a standard risk assessment. The government recommend that you take out a risk assessment in line with Health and Safety Executive (HSE) guidance.
Under the Management of Health and Safety at Work Regulations 1999, the minimum you must do is:
Identify what could cause injury or illness in your business (hazards)
Decide how likely it is that someone could be harmed and how seriously (the risk)
Take action to eliminate the hazard, or if this isn’t possible, control
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7 ways to help your Coronavirus Business Interruption Loan get approved
by Mark Perrin • • 0 Comments
Originally written by Mark Perrin on Small Business
During times of financial crisis, businesses are always advised that the key to survival is to keep a close eye on cash flow. But what happens if everything possible has been done and the company needs to secure a business interruption loan to get by? What can business owners do to increase their chances of getting approved and securing the money they urgently need?
Before completing an application form for a business interruption loan, business owners need to understand the true cash picture and how it might change in the future. This involves assessing how the coronavirus crisis could impact cash flow in three, 12, 24 and even 36 months’ time.
Even though it is not mandatory for financial forecasts to accompany applications to the Coronavirus Business Interruption Loan Scheme (CBILS), business owners should avoid committing to any loan without understanding how changes affecting the cash position of the organisation could affect their ability to make repayments in the years ahead.
As well as being a demonstration of management best practice, cash flow forecasts allow business owners to make well-informed decisions about how much money they need to borrow and whether the loan is affordable. Without
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How to sell your small business without a broker – Small Business guide
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
When you should avoid using a broker
Because business brokers charge a sizeable commission for selling your business, using a broker is not always necessary if you want to sell your small business.
And brokers can have hundreds of other clients, with often only a small number of staff to handle all enquiries. Anecdotally, 96 per cent of businesses listed with brokers never sell.
In the end, nobody is going to love your small business as much as yourself, so why not handle your sale yourself?
Being able to respond to background checks and due diligence queries directly is another plus, rather than having to wait days for your broker to forward questions from your buyer.
>See also: How to sell your small business through a broker
Because you do not have to factor in broker fees, you can offer you can find yourself selling your small business without a broker for more.
And because you are not tied into a broker, there is no penalty if you do change your mind and take your business off the market.
That said, Clinton Lee, a consultant who specialises in helping sell businesses, believes that all but the smallest businesses would benefit from
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How to reopen your restaurant, pub or hotel post-lockdown
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
UKHospitality has set out draft recommendations for how hospitality businesses should operate post-lockdown.
For example, sauces should be removed from eateries and replaced with individually wrapped condiments. Meanwhile, in pubs, people will be discouraged from standing at the bar.
Hotel buffets will also be off the table, at least in the short term, according to a 75-page document from the industry body.
UKHospitality stresses that you must do a thorough risk assessment before reopening to show that you are taking adequate steps to reduce the spread of COVID-19.
Specific guidelines for hotels, pubs/bars and restaurants are set out below.
Hotels, accommodation and hostels
If staff help guests with luggage, keep the required distance apart from guests whilst collecting luggage and either take it to the room before the guest arrives there or knock on the door, step back and leave the luggage at the door. After handling luggage, staff should wash their hands or use a hand sanitiser.
Room service: consider using trays which can be left off the floor next to the door, or think of other ways to protect the order, for example a small light table, or a folding luggage rack both of which have been disinfected
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Protecting employees’ payroll during the coronavirus crisis
by Matthew Stark • • 0 Comments
Originally written by Matthew Stark on Small Business
It is very rare that you will get advance warning that a disaster is about to hit your company.
Even if you do have some time to plan, it doesn’t mean things won’t go wrong as every crisis is unique and brings with it its own challenges. The current crisis we are facing is unprecedented, and certainly unexpected, meaning many employers will be dealing with business-critical issues they never thought they would have to factor into their plans.
With this in mind, the coronavirus outbreak has reminded all of us that having robust continuity strategies in place to deal with a crisis are critical. However, a lot of businesses will have had little or no contingency planning for a crisis of this magnitude and will be scrambling around trying to figure out what to do in the face of such uncertainty.
>See also: Business continuity plan: What it is and why you need it
One of the major problems that surfaces from not having a robust plan in place is that in putting out fires, as an employer you can forget about arguably your most important stakeholder – your staff. Many are working harder than ever to
