The ongoing instability and financial stress brought by the pandemic are stretching us all, especially businesses and their owners’ resilience. And while a critical strength of SMEs is agility, the ability to bounce back, for many the added pressures are bringing things to bursting point.
How bad is it, really?
Pandemic has proven an extreme challenge for many. While rent and credit card holidays, government support schemes have been welcome, they are not sustainable, and business owners will have to pick up the bill at some point. Most recent ONS figures confirm that only 35% of businesses have cash reserves for more than six months. With mounting financial obligations, complexities of managing furloughed teams, chasing invoices, it may feel alienating and overwhelming.
Normalising COVID
Feeling out of control is not something many business owners are willing to admit. Neither is seeking help. But more practical, tailored support, including financial and mental health aspects, is what is needed right now. That’s why together with FSB and other panellists, I invite you to our virtual event on 21 October at 10:30 am, when we will present useful case studies, explain financial support options and signpost mental health resources.
Book your ticket here. We hope to see you then.