When lockdown comes to an end

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How can we plan out of a crisis and for release from lockdown?

Robin Troy replies:

Especially during these unprecedented times, when no one truly knows what the future will be or what it will bring, whether in health, job prospects, the property market, buying and selling, lending or borrowing, employment or redundancy, the one certainty is that the lockdown will come to an end and there will be a ‘release from lockdown’.

There may be a new economy, a new normal, a new attitude for many of us or indeed a new world.

The one thing for certain is that working practices will probably have already changed for many and will have to change for others.

Businesses may need to lower costs and engage in flexible practices.

Some businesses will need to invest in technology, having to move to online platforms and perhaps video selling, and others may find the way forward in smaller office or business premises with staff remote working and daily video-conferencing.

In all cases it is likely that communication and planning will be the key to survival or success in our new world. Communication will be important, not just in the workforce, but with every business and its target market.

On the release from lockdown, it is likely that our hopes and aspirations may still be the same: people will still want to buy all forms of things, will want to go on holiday, will want promotion or a new job or will want to start a new business.

The world is going to see a recession. It is certain that some businesses will disappear, some will change direction and others will emerge where people see new opportunities and challenges.

Richard Branson once said: ‘In times of recession there are massive opportunities and fortunes to be made, so for up-and-coming entrepreneurs, this is the time to go out and start a business.’

The key is not to panic, get good advice and prepare or plan for the future.

In the coming weeks we will set out some topics and things that can be done to plan for release from lockdown, including getting your finances and records in order (essential for those who may wish to borrow money), starting a business or buying or selling property, making a will or lasting power of attorney and redundancy and employment issues.

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