Shropshire Businesses Remain Positive Despite COVID19 crisis.

24 Jul 2020

The world we currently find ourselves in can seem distressing and challenging to most, and many are describing the COVID-19 pandemic as the most unique challenge we will see in our lifetime.

The effects of the crisis can take a toll on many of us, not just financially but emotionally. This can affect businesses at all levels of management and staff.

WR accountancy and business advisors recently ran some well attended webinars called, “Survive, Adapt, Thrive”, on the subject of the Covid-19 pandemic and the effects on business, with a view to providing business leaders with support to adapt their businesses to respond to the crisis and then to thrive when we emerge on the other side. In the light of last week’s Mental Health Awareness Week, the firm asked the business leaders taking part in the webinars how they were coping with the crisis. They wanted to see how their emotional state was right now, to understand the effects of the Covid-19 crisis on the well-being on business leaders.

As you may expect most businesses have been affected. Nearly 75% of our respondents had seen some impact from Covid, and over a quarter said the impact was high. This reflects national statistics with the CBI reporting that, “4 out of 5 firms have seen a negative impact from the Covid crisis”. In a business landscape so visibly changed by Covid it is hard to see how companies can remain un- affected.

When asked what barriers they faced, there was a repeated mention of uncertainty. One business leader commented, “the future economic landscape is unpredictable”.  Paul Brown, Tax Partner at WR and the driving force behind the firm’s advisory offering commented, “Dealing with uncertainty is particularly difficult. We are supporting our clients everyday to help with planning, support and providing consistent and valuable business advice”. 

The survey then asked business leaders to see how they were personally dealing with the crisis. The results show the resilience that you would expect with nearly half remaining positive despite the circumstances. However, the survey revealed that a significant proportion, nearly 1 in 5, were feeling negative. This honest and open response indicates the pressure on managers and directors in Shropshire, and by extension, on staff and workers. An NHS study in 2012 showed a significant increase in suicide, particularly among men, during the “Great Recession”. At this time of Mental Health Awareness, it is surely important that business and society more generally continue to care for those around us affected by the Corvid induced economic crisis. 

WR have chosen to show their clients they care by creating the free ‘Survive, Adapt, Thrive’ program, the focus being on strategies to help businesses thrive once we emerge from the Coronavirus lockdown. As part of the program offering, WR supported all attending with a ‘Coach’ that would help business leaders realise that they do not have to be alone, and that support and guidance is available to help them navigate the many and varied challenges the outbreak has presented.

Speak to a member of the WR team by calling 01743 273 273 to receive the support and guidance by one of the WR coaches.

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