CHAMBER NEWS Coronavirus: planning ahead
Having originated in Wuhan, Hubei Provence, China, coronavirus (COVID-19) continues to escalate as a global issue. While the main priority is clearly
the wellbeing of individuals affected by the virus, there is nevertheless a growing impact on business. As a region renowned for making
things and transporting across the world – including China – businesses based in the East Midlands are clearly not immune to this impact. Some of the ways businesses are
being – or have the potential to be – affected include, but are not limited to:
• Interruptions to transportation of goods due to shutdowns, especially in China
• Decreased consumer demand in China and countries most affected by coronavirus
• Tourism impact due to fewer people travelling both in and out of the UK
• Potential supply chain impact when importing/exporting
With the potential for a significant outbreak in the UK, businesses of all sizes – whether they are currently trading internationally or not – will also need to plan ahead to mitigate possible disruption. The Chamber would urge
businesses to plan in the same manner they would for any uncertainty – much in the same way businesses have safeguarded themselves as much as possible against unknowns relating to Brexit in recent years.
‘Taking the opportunity to evaluate potential cash flow pressures in the event of disruption is also prudent’
This could take the form of a risk
assessment – identifying all supply chain elements and operational activity and making contingency plans where possible to safeguard against disruption. Clearly, this is good business practice irrespective of challenges which may or may not present themselves. Taking the opportunity to
evaluate potential cash flow pressures in the event of disruption is also prudent in order to mitigate against any potentially uncertain trading periods.
52 business network March 2020 The British Chamber of
Commerce in China has surveyed its members on the impact of coronavirus, with some of the main findings below:
• 97% of respondents report a negative impact on their operation from the virus, with the majority (54%) experiencing a significant negative impact
• Companies are also experiencing general financial challenges (36%), costs from HR compliance (29%) and a shortage of necessary medical supplies (28%)
• Almost all businesses are implementing working from home and 37% are allowing for flexible working hours
• 22% are postponing investment decisions and another 17% temporarily suspending operations in China. Of the companies that employ British nationals, relatively few are actively relocating them back to the UK (9%), but most are supporting the voluntary decisions of employees to work remotely out of the country
• Two in five British businesses have already provided support to the government’s efforts to contain the virus in Wuhan and Hubei. This has been in the form of medical equipment (13%), financial donations (12%) and business advice (8%)
FURTHER ADVICE The Foreign and Commonwealth Office is advising against all travel to Hubei Province and all but essential travel to the rest of mainland China. It also advises British nationals in China to leave.
More details at
www.gov.uk/guidance/travel-advice-novel- coronavirus.
The Chartered Institute for Personnel and Development has produced a fact sheet, which sets out how employers should respond to the threat from Coronavirus.
More details at
www.cipd.co.uk/knowledge/fundamentals/emp- law/health-safety/coronavirus-factsheet.
The official guidance from the Department of Health and Social Care, and Public Health England is being updated daily. This covers the situation in the UK, provides information about the virus and outlines the action the Government is taking to prevent its spread.
More details at
www.gov.uk/guidance/wuhan-novel-coronavirus- information-for-the-public.
The Department for Transport and Public Health England have produced specific guidance for the transport sector.
More details at
www.gov.uk/government/publications/covid-19- guidance-for-staff-in-the-transport-sector.
The NHS has a concise guide to coronavirus setting out how it is spread, how to avoid catching it, symptoms, treatment and what to do if you think you or any of your employees might be infected.
More details at
www.nhs.uk/conditions/coronavirus-covid-19.
The World Health Organisation has more detailed information including videos on best practice and posters to download to inform your workforce. There’s also a useful myth-buster section and advice on when face masks are appropriate.
More details at
www.who.int/emergencies/diseases/novel- coronavirus-2019/advice-for-public
For a full list information and advice from various trusted and reputable sources, visit
bit.ly/EMC_coronavirus
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