The Analysis Comment
Four years to recover
Covid business recovery could take one to four years, UK finance leaders say
Francois Lacas Deputy chief of operations,Yooz.
It will take more than one year for businesses to recover from the effects of the global pandemic, says a new survey of UK finance leaders. The figures show that UK businesses
will take an average of 13 months to recover, with 43% of UK finance leaders believing it will take one to four years to fully recover.
Pre-Covid Just 30% believe they will be able to return to pre-Covid levels in under six months. Our survey of over 200 UK finance lead-
ers also highlighted concerns caused by new legislation driven by Brexit. Half of the finance leaders surveyed said
they feared that the UK’s exit from the EU will impact their ability to process payments as it leaves the single market and customs union.
Any future investments will need to be closely monitored to prove that they create efficiencies
Impact The impact of the pandemic twinned with Brexit disruption is acting as a two-pronged assault on UK businesses and if not managed correctly could derail them completely. Although many businesses are starting
to benefit from a more stable economy, the further delay in lifting restrictions means that financial leaders remain cautious. Having spent the last year trying to keep
businesses solvent, while dealing with working remotely, furloughed staff and cash flow uncertainty finance departments across the UK continue to face tough decisions.
Future investments Any future investments will need to be closely monitored to prove that they create efficiencies, ROI and are considerate to a more flexible working model if we are to overcome any further disruption. CCR
August 2021
www.CCRMagazine.com
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