COVID-19 pandemic has adversely affected more countries so far, than both the world wars put together. The virus has been continuously damaging the individuals, agencies, societies, and economies. In a short span of six months, the situation has moved from emerging threat to a long lasting danger both for consumers and companies. Consulting firm McKinsey's recent study suggests that the UK GDP in 2020 could shrink by 9 percent.
A recent study conducted with 200 small and large UK agencies found the following:
Agencies need to thrive and can no longer afford to wait for this to pass as it seems normalcy may take a long time. Agencies that make the right move will lead the pack and create a more robust future for them. Here are few things which you must go with:
Leverage the present situation as an opportunity to assess your customer network. Review your credit policies and manage your cash properly.
Here are few tips that you must take into consideration while choose an umbrella company:
Also See: Key Information Document