The end?

Discussion in 'COVID-19 Forum' started by Bluejen84, Mar 14, 2020.

  1. fisicx

    fisicx It's Major Clanger! Staff Member

    32,407 9,581
    My wife works in London. Pretty much all the lunchtime food businesses have shut up shop. Nobody is going out to eat or are already working from home.

    She does business insurance and they are pulling cover from thousands of businesses around the world. Pretty much anyone involved in travel and hospitality won’t be able to get cover as the risks are too high.
     
    Posted: Mar 15, 2020 By: fisicx Member since: Sep 12, 2006
    #21
  2. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

    5,381 1,254
    It's in everyones insurance contract and virtually every lease they sign.
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #22
  3. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

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    Save them Googling . . . .

    "A force majeure event refers to the occurrence of an event which is outside the reasonable control of a party and which prevents that party from performing its obligations under a contract."
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #23
  4. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

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    Matt Hancock will not survive this.

    Should he?

    'The End' for him, I predict.
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #24
  5. Mark T Jones

    Mark T Jones UKBF Big Shot Free Member

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    Individual’s opinions about the wrongs and rights of a country’s approach are nothing more than bar-room banter and certainly shouldn’t affect your approach

    We are in a unique global crisis with several unknown outcomes

    What we can be pretty certain of is:

    - irrespective of whether there is a shut down, people’s desire to go out into public will be hugely diminished

    - individual needs and needs will change temporarily

    - it will end.

    We can also be reasonably certain that there will be a recession to follow.

    Like others here, I have sailed a business through several recessions (pretty badly the first one, I will admit). My thoughts would be that you need a short term (6 month) disaster plan for Covid but a permanent back-up plan for the economic inevitability of recession
     
    Posted: Mar 15, 2020 By: Mark T Jones Member since: Nov 4, 2015
    #25
  6. atmosbob

    atmosbob UKBF Ace Free Member

    4,239 978

    Me too. I am old enough to have been through quite a few setbacks in business and have survived each one. My worst was Ted Heath's 3 day week. The effects lasted over 6 months. I've weathered several recessions. Here are a few tips I've learnt over the years.

    1/ Stop Spending. The best place to find emergency finance is the notches on your belt. Make your own soup for lunch. Stop eating out.

    2/ While times are quiet work on all the maintenance work around the office, shop, studio or warehouse. Paint the walls, wash the carpets. Tidy your old paperwork.

    3/ Find the businesses near you that you can trust and compare notes. Many of them will be suffering as you are. Through networking you could find opportunities to earn a little to continue afloat. I'll admit to digging a grave for cash and gutting several barrels of mackerel.

    4/ Plan on increasing your prices. At some time, perhaps months in the future, costs will rise. Planning now for the inevitable is a useful exercise.

    5/ Plan a selling campaign. Fine tune it so that its ready to go as soon as things get back to normal.

    (One local shopkeeper organised a party in his shop to celebrate the start of the summer season. It had been an especially bad winter. One gale had damaged nearly every roof and filled the main village street with broken slates. A party to celebrate the end of the plague/virus is an obvious opportunity to build back local loyalty.)
     
    Posted: Mar 15, 2020 By: atmosbob Member since: Oct 26, 2009
    #26
  7. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    The worst thing company owners can do is not have a plan already in action and following it however hard it may be

    You can lay staff off for 4 weeks see https://www.gov.uk/staff-redundant/layoffs-and-shorttime-working which may help you survive, so you can explain now what your options are so they are prepared you also have sick pay available if needed,

    You can work out your expected recovery time taking into account if its two months virtually shut down, people may not have money so only essential items will be brought at the end

    Better to cancel any ordering in place now and save some money until you know the future

    Make the hard decisions now rather than dithering and loosing more money

    Remember you have a duty of care to both your staff and customers, you can limit the number of people in your shop, bar etc at any one time, remove places in restaurants so nobody is sitting close together

    Limit your outgoings to the minimum
     
    Posted: Mar 15, 2020 By: Chris Ashdown Member since: Dec 7, 2003
    #27
  8. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

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    I think community spirit (genuine helping each other) will be needed for the UK to get over the affects of this virus.

    The government will need to spend MUCH more in helping the WHOLE population, not just a select few.
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #28
  9. JEREMY HAWKE

    JEREMY HAWKE UKBF Legend Full Member

    4,936 1,645
    If you have the funds there maybe a viable argument in the modern era to invest in marketing in challenging times
    @atmosbob you wiil remember the old saying

    Be cautious in a boom
    But be brave in a recession
     
    Posted: Mar 15, 2020 By: JEREMY HAWKE Member since: Mar 4, 2008
    #29
  10. Mr D

    Mr D UKBF Legend Free Member

    22,126 2,604
    Indeed.
    Just don't expect it to happen from government.

    People are better placed to help each other.

    Expect some groups to pull together for mutual support and sharing. Perhaps around existing groups - churches, charities, voluntary groups etc.

    Government are not going to save us, they almost never do. People however - perhaps someone will offer a helping hand to someone else? Starts there.

    Multiple times over the years, on a small scale, we see a tragedy and we see people step up to help without demanding payment.
    Now we will have a large scale. Will the same spirit be crushed? Or will people act?

    Talk to your parents and grandparents - perhaps they have some idea from their earlier times or their parents.
     
    Posted: Mar 15, 2020 By: Mr D Member since: Feb 12, 2017
    #30
  11. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

    5,381 1,254
    As soon as other European governments are seen to be actively helping all business sectors, then UK will follow . . . . . . . . otherwise they will be ousted.

    I think Boris wishes he didn't win the election now . . . . . .
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #31
  12. Mr D

    Mr D UKBF Legend Free Member

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    Could you imagine Jeremy helping business? His chancellor choice was against business subsidies in a big way.
     
    Posted: Mar 15, 2020 By: Mr D Member since: Feb 12, 2017
    #32
  13. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

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    Forget Jeremy, he will blame the Jews for the virus.
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #33
  14. eteb3

    eteb3 UKBF Regular Free Member

    168 25
    Please someone tell me why this is a crazy idea (it must be, or I'd have heard it suggested):

    Her Majesty declares a moratorium on all long-term liabilities for two months - finance, lease, etc, that were contracted before yesterday. Landlords & financiers won't get paid, but nor will they have to service their own liabilities.

    Drafting the order would be a challenge, but surely could be done; and then we could all stand still for 2 months and then pick up where we left off.
     
    Posted: Mar 15, 2020 By: eteb3 Member since: Jul 18, 2019
    #34
  15. fisicx

    fisicx It's Major Clanger! Staff Member

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    It's more likely to be 6 months. We aren't even going hit the peak for another 2 months.

    If you were a landlord and your income derived from rent I doubt if you would agree to a moratorium for that length of time.
     
    Posted: Mar 15, 2020 By: fisicx Member since: Sep 12, 2006
    #35
  16. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

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    Perhaps a happy medium - 3 months?

    Landlords want to keep their tenants.

    How long will their properties be empty after businesses fold?

    In China, the Government as well as some landlords have seen sense and have done just that, alas not in all landlords.
     
    Posted: Mar 15, 2020 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
    #36
  17. atmosbob

    atmosbob UKBF Ace Free Member

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    I have an industrial unit and I've told the tenants that they can ask for a rent free period whenever they want.
     
    Posted: Mar 15, 2020 By: atmosbob Member since: Oct 26, 2009
    #37
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  18. The Byre

    The Byre UKBF Ace Free Member

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    There is hope and salvation for us -

    [​IMG]
     
    Posted: Mar 15, 2020 By: The Byre Member since: Aug 13, 2013
    #38
  19. Mr D

    Mr D UKBF Legend Free Member

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    So long as payments are cancelled for that period.
    Suspending collection - when the people paying won't be able to make up the money - will drive far more into debt.

    And how far should be gone? Insurances? Council tax? Utilities?
    Paying for fuel / buses / taxis themselves.
     
    Posted: Mar 15, 2020 By: Mr D Member since: Feb 12, 2017
    #39
  20. fisicx

    fisicx It's Major Clanger! Staff Member

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    Good that you are in a position to be able to offer this. Some are not so fortunate.

    I have an aunt who lives above a shop she owns. Her only income is the rent from the shop. She can probably reduce the rent but not cancel entirely.
     
    Posted: Mar 15, 2020 By: fisicx Member since: Sep 12, 2006
    #40