2021 What to expect?

I write this just as 75% of the UK has been placed into Tier 4 lockdown and as everyone prepares for a stay at home New Year’s Eve.   In truth there isn’t a lot of optimism around but scratch the surface and there should be.

After every huge shock there is always a bounce back a strong recovery; from the roaring 1920’s to the Noughties Boom that followed the Dotcom bust, more recently the World and the UK had been enjoying strong growth until Covid-19 cut the legs out from under us.  So with vaccinations, warmer weather and the uncertainty of Brexit behind us we in business need to refocus, the time for hunkering down and hibernating is over, business needs to look ahead and decide where we are going.

So what should we expect from 2021?

 We at Wilton Gilbert believe it will be a business friendly year, potential grants, and incentives together with less red tape and a static or reduced tax burden will help business step out of the Covid-19 shadow and rebuild employment levels.  As such we expect the ambitious entrepreneurial businesses to thrive, those that stand still, waiting to see what a post Covid-19 economy looks like will be overtaken by hungry visionaries who aren’t prepared to wait.  We also expect to see a continued take up of technology and investment in AI as businesses look to future proof themselves and at the same time become more efficient.

Of course companies and brands will fail due to Covid-19, but this will create corporate transactions and activity that strengthens and consolidates sectors, the demise of underperforming / underinvested brands/businesses has been accelerated by Covid-19 but this is merely part of the ever shifting business cycle.

Businesses should look now at the strengths that have seen them through:

·       People – who has excelled and gone beyond?

·       Customers/Clients – are they strong have you built on your relationship?

·       Processes – did they respond how can they improve? 

These simple questions can form the basis of your 2021 strategy, where to invest and where to make changes.  Do not sit on your hands, and wait, 2021 will be different and we will never go back to businesses as was in 2019, embrace the new landscape and change / adapt.

Whatever your sector or specialism there will be opportunities both new and filling gaps left by others, and there will be more opportunities because of Covid-19 and the damage it has done not less.

Embrace 2021 and go for it!  We at Wilton Gilbert certainly are.