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Whenever you turn on the news at the moment, there’s no shortage of doom, gloom, and terrifying statistics. Unfortunately, that’s part of being in the midst of a global health and economic crisis caused by coronavirus COVID-19.

And these are worrying times. We’ve recently written a series of articles about the help and support that is available for self-employed workers, limited companies, and employers. Those guides are available in our Business Support for COVID-19 info hub.

But, we also want to look ahead

As online accountants, one of our jobs is to forecast, support, and encourage. So what victories might businesses eventually be able to take from these unprecedented challenges? Some might not be applicable right now, and perhaps not for a long time yet.

There will be light at the end of this dark tunnel

We understand that an optimistic outlook might seem impossible at this time. Trust us when we say that we are anything but naive about the scale of the problem here.

But we’re not just accounting professionals, dedicated to helping businesses affected by the impact of this virus. We’re also real people who care, very much, about you and your business succeeding. We take pride in it. We’re rooting for you.

Step back, evaluate, plan your attack

The every day of running a business or being self-employed can be unrelentingly demanding. There is a never-ending procession of tasks to tick off, people to please, and deadlines to reach.

The coronavirus pandemic has forced us to stay in one place. This change of pace – unwelcome as it may be – at least provides an opportunity to take a detailed look at what’s really happening in your business. Evaluate what works well, and analyse what’s causing the areas that need a little more attention.

It will build a much more efficient plan of attack in order to get things up and running again.

Analyse the effects of increased flexibility

If you operate in an industry where employees can work from home, then take a minute. If remote working is brand new for you and your teams, then the IT magic trick that you’ve probably just performed deserves a well-earned round of applause.

What do your staff think? Way before COVID-19 appeared in our news feeds, workers were eyeing up greater flexibility in their working habits. Employers have been getting wise to the fact that attracting quality candidates means offering them the reactive environments and company cultures which accommodate a better work-life balance.

Now that employees have experienced the benefits of agile working, is this something that will suit your business?

Use this experience against future adversity

Times are tough. Surviving them makes us tough. These experiences have reminded us of the importance of quick thinking. Not being rash, that has its own dangers, but using active decision making, rather than operating on a solely reactive basis.

It’s also taught us all more about damage control, the importance of having a Plan B, and how to protect ourselves better going forward. The need to invest in training so that everyone is up-to-date, and nurturing an emergency cash fund where possible.

If you’d like to talk to us about how our online accounting services can help your business, give us a call on 020 3355 4047, use the Live Chat button on screen, or request a free online instant quote.

About The Author

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.

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