The vaccination rollout has improved business confidence, multiple pieces of research have revealed. But are we completely out of the woods? What is the general feeling among businesses and what does research show?
The rollout so far
With more and more people getting the Covid-19 vaccine, whether it be Pfizer or Oxford/AstraZeneca, there’s confidence in the hopes of a return to normality not too far ahead.
With over 30 million people having received their first dose already in the UK, and over 3 million vaccinated with their second dose the rollout has been fast and efficient. There is hope that everyone who can receive the vaccine in the UK should have had their first dose by September and their second in the months to follow.
The public have been advised to remain cautious, despite whether they have received their vaccine or not, and should continue to social distance and wear masks accordingly as they continue to adhere to government guidelines.
What does this mean for businesses?
With the UK government guidelines slowly easing and the uptake of vaccinations increasing day by day, business owners are ready to get back in the saddle and recoup revenue taken from them over a tough year.
For some, this has come in the form on a recruitment drive to grow their business and stay ahead of competitors. Other businesses have been extremely successful throughout the pandemic and have gone from strength to strength by adapting their services to suit their clientele.
For example, many restaurants and cafes have decided to open online shops and offer window collections for their services as a way of staying in touch with the community and still being able to provide their much-loved produce.
Food delivery services like Deliveroo, found to be one of the fastest growing companies in Europe, have gone from strength to strength throughout the pandemic – even during lockdowns due to many ordering food deliveries to their home whilst instructed to stay inside.
However, some businesses have struggled to stay on their feet and have suffered huge losses. Some of which unfortunately have made the hard decision to close.
How will businesses utilise the vaccine rollout?
As the vaccine continues to rollout there’s expectations that the government guidelines will gradually ease and industries like hospitality and leisure and tourism will begin to operate again.
This will give businesses a chance to reward their staff for all of their hard work throughout the pandemic and have a taste of normality as they organise safe, regulated day trips and team building exercises for those that might have joined the business whilst amidst the pandemic.
Interview processes will be able to go back to face-to-face and there will be more interaction amongst team members as offices, building sites, bars and other workplaces open again.
For the businesses that are finding it difficult to get back to where they were before Covid-19 happened, there are Coronavirus Business Interruption Loan Schemes (CBILS) available to take advantage of and offer a helping hand as the company regains its custom.
