| Impact of Covid-19 (and the wider situation) around it on business compared 16:43 - Mar 16 with 517 views | homer_123 |
with Brexit.
So, just a reality check - throughout the whole of the 3 odd years of Brexit - we had 'two' projects delayed and no cancellations.
In the space of the last 5 working days, we have had 3 projects completely cancelled and 7 pushed back to late this year/ early 2021.
To give you some idea of how our clients businesses are being affected. A hospitality company has seen a 30% reduction in bookings as of Thursday last week, as of today, that has doubled to 60% - at that level their business is sustainable for a period of months - they employee around 2,000 people.
Another client has seen footfall reduce by 85% in a week - currently they are thinking of having to close for the foreseeable.
One further client has seen circa £150m of work placed on indefinite hold. Again, in the last few days. They employee around 800 staff.
Right now - my sense is that Covid-19 is likely to have a far bigger short/ medium term impact than Brexit and who knows longer term.
All else aside, the socio-economic impact of this will be studied, discussed and debated for years but I am genuinely, now, deeply concerned not just for the health of individuals but also for many, many businesses and the knock on effects. |  |
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| Impact of Covid-19 (and the wider situation) around it on business compared on 16:48 - Mar 16 with 486 views | Swansea_Blue |
It's obviously a much, much bigger impact. The financial crisis was a larger impact than Brexit too. Voting in the Tories in 2010 probably had a bigger impact on the vast majority of people (courtesy of aggressive cuts, lost jobs, downgraded services and, arguably, unnecessarily delayed recovery to the financial crisis).
The difference with Covid-19 compared to Brexit, apart from the scale, is that Covd-19 isn't voluntary. It's just a shame when there are all these other pressures that we also embark on a self-harm exercise. We have enough challenges without making things more difficult for ourselves. And Brexit already has and will continue to directly impact our ability to cope with Covid-19. If common sense prevails they'll delay the transition period. I don't see how they can't given that there won't be the capacity or will in the UK or EU to embark on trade talks now. [Post edited 16 Mar 2020 16:51]
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| Impact of Covid-19 (and the wider situation) around it on business compared on 16:59 - Mar 16 with 462 views | Darth_Koont |
Covid-19 is global and has an immediate effect because so much is still unknown.
Brexit is local to the UK with a slow-burning effect over years on the UK and bordering nations. But otherwise life will go on in the world uninterrupted and it'll just cost us a bit more to participate/we get less out of that participation. |  |
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| Impact of Covid-19 (and the wider situation) around it on business compared on 17:04 - Mar 16 with 448 views | giant_stow |
Thats fascinating and horrifying all at once - thanks for the info Homer. Could be the economic crisis becomes as big a thing as the health crisis I spose. |  |
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