The UK construction sector has been a remarkable story of adaptation during the pandemic. An initial plunge of 40.7% in its GDP in April 2020 as almost the whole sector was forced to shut down, has been followed by a steady climb back up out of that financial hole marred only by a dip of 2.9% in December 2020 and
Managing growth when coming out of economic downturn Growth kills more companies as they emerge from an economic downturn than the recession itself. More precisely, headlong expansion with depleted working capital is what does for them. After the slump, the losses and the gloom of it all, what entrepreneur would turn away that heady surge in sales? The answer is
The pandemic pivot game – to stick or twist with your new business model Coronavirus has not just changed the way we live our lives, it has revolutionised how we do business. Some of this commercial adaptation is permanent, while other revisions may only be temporary. Some will only work in the short term, others may have much longer term
Throughout the pandemic, most businesses have been able to ride the storm due to support through the Government’s various emergency financial and legislative measures. As this protection is withdrawn, businesses will be under pressure to address overdue debt and run financially viable companies. Times of pressure and economic crisis often lead to contentious issues such as potential preference payments, transactions
The insolvency reality during the crisis There is a common view that insolvency practitioners must have been rushed off their feet during the crisis, as businesses across the economy have been savaged by lockdowns and restrictions. The reality could not be more different. Government support measures have not just kept viable enterprises afloat, but they have also suppressed business failures
A perfect illustration – a road haulage business rescue When a well-established road haulage business came to Opus for advice, the question posed was simple enough: do we have to lose everything by going into Administration? Its owners and accountants were insistent that there must be a better way out of the financial predicament it faced. This was despite a
