Welcome to the second segment of our series to celebrate the launch of our Bounce Back to Business scheme! If you missed the last blog post (which gave you more of an insight into the scheme,) then you can read all about that here. COVID, the inescapable topic that has affected everyone and anyone. As we hit the one-year landmark since our lives were turned upside down, we’re reflecting on the significant challenges that businesses are still recovering from.
Based on the response from the voluntary fortnightly business survey…
• 15% of businesses not permanently stopped trading had no or low confidence that their business would survive the next three months.
• 46% experienced a decrease in turnover compared with normal expectations for this time of year.
• A separate survey taken by the Decision Maker Panel from November reported that their average unit costs were around 7% higher in 2020 due to Covid.
These statistics convey the anxiety and pressure that businesses have been experiencing due to the unknown circumstances COVID has created. Unexpected costs combined with loss of business doesn’t equal an environment for success. Equally, whilst the pandemic has caused major British corporations to crumble, the problems of smaller business are just as prevalent, just different. According to an online survey conducted by McKinsey & Company…
• 1 in 4 SME’s have concerns about defaulting on loans.
• 24% have concerns about their ability to retain employees.
• 28% have expectations of reducing headcount in the aftermath of the pandemic and 36% postponing growth projects.
• UK small and medium-size enterprises feel more resilient than they did in April 2020, but more than half may be out of business in 12 months.
Not being able to have face to face communications with clients, having to stop trade for significant amounts of time have all had a big effect on the day to day running of a business. We have all had to change and adapt in order to become more agile to survive in this newer climate. However, I don’t want you to get things wrong, not everything is doom and gloom. There is light at the end of the tunnel, with vaccines being speedily given out and the gradual reopening of society it won’t be long until we are back into some sort of normal. That’s why here at Edison Media, we want to get you prepared and be a part of your growth as you overcome these new challenges. With our brand-new Bounce Back scheme, we can offer you….
• 50% free additional investment on top of your spend- on your first campaign.
• Free Artwork & Design Services.
• Free Audience Profiling and Research Services.
• Free campaign planning & buying services with post campaign report & analysis.
You can read more about it here and find out how you can bounce back in the best way. So, what are you waiting for? Let’s get back to a better new normal.