Impact of Covid-19 (and the wider situation) around it on business compared by homer_123 16 Mar 2020 16:43
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.