Guide to Business Recovery After the COVID Pandemic

With government assistance, such as the SEISS grants, having been ended, many businesses will struggle as they attempt to revitalise themselves.

Work closely with your accountant

For many, it will be a rough period of transitioning back into making a solid profit. Keeping a good eye on your expenses will ensure you get the most out of your tax returns. When you bring them receipts, try to make sure they are in the best condition possible to save both of you time and money.

Also utilise their advice. While SEISS finished in September, there are still other schemes that could benefit recovering businesses. A salary sacrifice arrangement, for example, is "an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit," as described on GOV.UK

Follow COVID guidelines

While the laws in place for masks and social distancing have gone, you as an business owner still have the right to enforce those policies on employees and customers utilising your business.

Money and time spent on virus precautions, such as hand sanitizer, masks, temperature guns, and social distancing, will outweigh the loss most businesses suffer if they have to close down due to a positive COVID case.

Have an online presence

Because some businesses still have these guidelines in place, many customers look for an online presence to check their policies. Engage in social media or have a website that would provide users with everything possible they would need from you. Doing this will free up your time for physical interactions with customers and maximise your profit.

Encourage employees to work from home

If possible, encourage employees to work from home. Research during the pandemic have indicated that people feel more comfortable, are more productive and save money on travel costs when they work from home. Naturally this doesn't apply to all businesses. Not only for those that require servers like restaurants, but also for confidentiality reasons, such as accountants.

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