Yes, those left standing and in full time employment, are considered the lucky ones. Not been furloughed? Then you are in a class of your own and one of the privileged few who has gotten out of this whole traumatic experience completely unscathed. Hopefully the people or family close to you haven’t suffered in any way as well.
The time now is to reflect on who has been affected by what happened and the millions of people who have been the unlucky ones. The government in most of the western countries have been the solid foundation in trying to maintain as much financial stability as possible, by introducing, mortgage holidays, temporary late payments exemptions, and special furlough benefits.
Who Has Suffered The Most?
In the midst of this global pandemic, the biggest casualties have been the following;
Businesses where social distancing is problematic
Heavy industry facing falling demand
Energy companies with falling demands or oversupply
Financial groups hit by plunging interest rates
Who Has Been Notably Affected?
From a consumer perspective, the biggest losers have been the retailers, restaurants, and airlines. On a bigger scale, tourism in cities and resorts all over the world. The cruise industry had one of the biggest media coverage due to passengers and crews remaining quarantined onboard.
The other thing to bear in mind is the knock-on effect this has had across the globe too. Cancelled orders, manufacturing job losses, greatly reduced demand in oil production, leading to a drop in prices, meaning more losses, redundancies, cost cutting, and a multitude of global bankruptcies. We’ve seen our high streets being decimated by countless store and restaurant closures. Reading devastating headlines about new business owners losing everything after investing their life savings into their dreams on going it alone.
The Lucky Ones
There were cases where the lucky few managed to survive the pandemic storm and have managed to open again, but new measures have now had to be introduced which will always impact the bottom line. The trend now is social distancing, temperature checks, sanitised hand wash. Once restaurants which could hold a hundred covers, in most cases, have now been halved.
The Unlucky Ones
The big retailers and chain restaurants haven’t come out of this unscathed either. Notable UK closures or job losses have been with;
T M Levin
Frankie & Benny’s
Pret A Manger
Just these six companies have produced many thousands of job losses throughout the UK and the impact will take many years to recover from.
So Who Needs our Help The Most?
Hands down it has to be the small businesses, the independent retail outlets, these are the lifeblood of any high streets. They’re able to offer jobs, more choices, and build character to the UK malls and high streets. It’s harder and will probably take longer for major businesses to expand and invest in new outlets, due to a lack of confidence in the current pandemic market.
Let’s Not Forget
The car industry is probably the most important of them all, with constant reliance on cars, trucks, and all types of vehicles. Many had to close due to the lockdown rules of social distancing, but a few managed to maintain a form of normality.
Best Price Car Sales were one of the few who managed to adapt to government regulations by offering free nationwide deliveries, online e-signs, and remote advisors who showed detailed images and specifications of our used cars and used vans. Once the customer chose the one suitable to purchase, the cars would be prepped for sale and delivered to the customers’ doorstep. This would then give the customer the chance to fully inspect the vehicle, and take it for a test drive. Once all is well, the customer accepts delivery. This has taken away all the risks of wandering around in showrooms and interacting with face to face advisors.
To get in touch with one of our friendly advisors at Best Price Car Sales, just call 02382 544 186