The economic reality of the Coronavirus is that no matter what hardships our economy faces and how desperate our finances appear, one day our economy will be resurrected.
Of that there can be no doubt. Unfortunately, we cannot say the same for those loved ones who are tragically lost to this pandemic. Our nation’s health is therefore rightly being prioritised by our Government and this should be applauded.
That said, a full economic resurrection will be neither soon nor speedy for most. There is presently huge uncertainty as to the answers to questions such as……When will ‘lock-down’ conditions be fully released? Will the vaccines be as successful as we hope? And when will Corporate UK be fully reopened for business?
Prudently speaking, assuming the vaccine roll out continues at the current rate, and its effectiveness is sustained, then the Government’s ambitions of June 2021 for a full release of lockdown conditions appears achievable.
On this basis, life for most SME business owners should by summer 2021 be one of assessing the damage caused and the losses incurred. Owners will have begun the process of mapping out a rebuilding plan to try to recover their business back to a pre-Coronavirus level.