With restrictions across England finally starting to lift. It's no surprise many people across the country are asking, what now? How do we regain some form of normality?
Among many concerns, the most prominent is paying bills and putting food on the table. As a result of Covid-19, employment across the country has taken a huge hit. With many facing being furloughed or worse yet, unemployment for the foreseeable future. Small business owners have also been hit hard and the lack of support being offered, hasn't provided any reassurance business will be protected during the pandemic.
Visiting Gov.uk you'll find an array of available support offered if you run your own business. But as working tax credits has been discontinued (unless you plan to claim the disability element). Options for financial support are limited but definitely worth looking into. You may find out your entitled to support, you weren't previously entitled to before. Such as Universal Credit to help with the cost of living, free school meal for when schools reopen.
What's also important to remember. Claiming support is temporary, whether its for personal or business use. No one could predict the impact Covid-19 would have on every aspect of our life's.
And with a three day week proposal being deliberated within parliament. Following examples such as South Korea, enabling people to create a well balance life. By including additional activities into their week such as learning and volunteering.
The idea is the work week will be split into team a and team b and breaking up the week. So team a would work Monday- Wednesday and team b would work Thursday - Saturday.
I'm sure you may be thinking a three day week is great! but it won't pay the bills!
If you haven't already, now is the time to:
Get in contact with all your service providers, suppliers and creditors. Find out if they are able to reduce or freeze your payments, until your business is back up and running.
Get rid of any old stock you maybe sitting on, even if you have a blow out sale. Not only will this top up your bank account, you'll be able to create space. For any new project you have planned for when your able to trade again.
Have a look through your home, is there anything you can sell. There are so many third party companies that specialises in re-selling your old stuff.
It's doubtful life will go back to "normal", we're all creating a new way of living. While understanding how to keep our loved ones and ourselves safe. We'd love to hear your though on how London will be changing.
Email Contact@aljldn.com with your comments.
We wish you all the best during this time and hope to have our office open soon