Posted: Mon 22nd Feb 2021
Later today the prime minister will set out a plan for the hopeful reopening of England and its economy. The plan for Scotland will be announced later this week, Northern Ireland has extended lockdown with a review on 18 March and Wales has outlined a tentative plan for shops to open in three weeks.
Over the past few weeks, there has been a figure in which we have taken great interest - the £250bn that UK households are predicted to have saved by June. On the basis that consumers are ready to re-emerge, there is every prospect that some of these savings will be spent with small businesses.
We have issued a survey today to ask how you are feeling about lockdown easing and the support you need to make the most of upcoming opportunities.
Here's what we think now, before seeing survey results:
Online sellers who have traded well over the past 12 months will want to meet customers in person and test physical retail
Founders will see customer demand for experiences and develop new revenue lines to offer this; for example, if you're an artist, starting to offer small and in-person art classes
All businesses will want to understand the legalities of welcoming back trade, such as refund policies
Businesses will look to raise funds to buy stock and/or equipment to invest for upcoming custom and will look to non-traditional forms of finance - i.e. beyond the banks - for this capital
Based on what you say in the survey, we will share an action plan a week today (1 March) on how we will deliver on the support and advice you're after.
If commentators are right and the UK resembles the 'Roaring Twenties' where growth came from pent-up demand and spending, we want to ensure small businesses are fit and ready to absorb some of that spend.
I look forward to your survey response.
_Emma Jones CBE is the founder of Enterprise Nation.
We are keeping you updated on the latest information on how to access the government's coronavirus business support here. You can also find advice and ask a question on Enterprise Nation's coronavirus business advice hub. Follow Enterprise Nation on Twitter too for updates.