Published by maria gbaf
Posted on January 25, 2022
By Julian Tomlinson and Firdaus Nagree – both members of the Entrepreneurs Organisation London
With 2020 having blurred into 2021 – both years marked by the enormous changes wrought by the Covid-19 global pandemic – one is left wondering whether 2022 will stand out as being in some way different from the two previous years. And perhaps it will be distinct, especially now that governments around the world seem to be moving away from the sort of very strict lockdown regulations that so affected our lives and economies across the globe.
From a business perspective, a big focus will be on economic recovery: getting people back into jobs; taking action to restore supply chains so that global trade can improve; building on some of the positive changes the pandemic introduced.
The support provided by government during the pandemic to the business world certainly staved off even worse economic disaster, but there is a risk that government will now seek to recover funds through amending the tax regime for businesses, which could prove “disastrous for those firms that have kept going despite the adverse conditions,” cautions Julian Tomlinson from Entrepreneurs Organisation London, a local chapter of a worldwide voluntary body of entrepreneurs that provides support and networking opportunities for other entrepreneurs.
According to Tomlinson, “Business owners who believe they can continue with their previous business plans because normality as we knew it before 2020 will return, are making a big mistake.” Tomlinson, who in his professional career is the chairman of ALPS, a provider of motor claims solutions, road rescue services and legal expenses insurance throughout the UK, continues: “Accepting the lack of the predictable – or so-called ‘normal’ – will present many new opportunities to those heading into the new year with open minds – be it in existing businesses or startups.”
With new opportunities arising as a result of the pandemic, there could well be some attractive businesses and new business ideas looking for funding, which, according to Tomlinson, “means that the troves of investment capital waiting to be utilised may well find homes.”
Another of the positive opportunities comes from the increased need for businesses to focus on sustainability. While sustainability has been an issue for some time now, many people had more time during the pandemic to reflect on the bigger issues affecting the world and so environmental sustainability gainted heightened attention. While this may create pressure on some established businesses, it also allows for new openings in the business environment for those with an entrepreneurial mindset.
One change likely to continue is the far greater adoption of remote working. Although technology has developed so much in recent years that the idea of not having to be in an office environment physically is something we all probably knew was possible, it took the pandemic to force us to experiment, a test that proved that is in fact possible to continue to run businesses and to be productive without having all one’s staff present in an office.
According to Firdaus Nagree, the CEO of FCI London, one of the largest luxury furniture and interiors brands in the UK and a board member of Entrepreneurs Organisation, “It’s likely that we will continue to experience the trend of moving away from traditional jobs to embrace more flexible environments. We’ll continue to see movement out of big cities as people make lifestyle choices regarding where they live and work. With this in mind, many will continue looking for remote work opportunities, often embracing multiple, simultaneous job opportunities over full-time roles.”
Moving from big cities to smaller towns means that there is probably going to be greater support for local businesses – good for regional and local economies, as well as for creating new opportunities for enterprising businesspeople. “While it’s been a rough ride for many businesses, for others, opportunities have presented themselves in the midst of chaos,”Nagree says.
These concerns highlight the need by employers for a greater focus on employee wellness, especially where mental health is concerned. Feelings of isolation and uncertainty about the future have definitely been issues facing staff over the past two years, more so than prior to the pandemic.
Ultimately, the one thing we are far more likely to be better prepared for during 2022 and in future years is how to cope with uncertainty. When one cannot know for sure what is likely to happen in the near- or long-term, business-owners will have to be flexible and creative in order to survive.
By Julian Tomlinson and Firdaus Nagree – both members of the Entrepreneurs Organisation London
With 2020 having blurred into 2021 – both years marked by the enormous changes wrought by the Covid-19 global pandemic – one is left wondering whether 2022 will stand out as being in some way different from the two previous years. And perhaps it will be distinct, especially now that governments around the world seem to be moving away from the sort of very strict lockdown regulations that so affected our lives and economies across the globe.
From a business perspective, a big focus will be on economic recovery: getting people back into jobs; taking action to restore supply chains so that global trade can improve; building on some of the positive changes the pandemic introduced.
The support provided by government during the pandemic to the business world certainly staved off even worse economic disaster, but there is a risk that government will now seek to recover funds through amending the tax regime for businesses, which could prove “disastrous for those firms that have kept going despite the adverse conditions,” cautions Julian Tomlinson from Entrepreneurs Organisation London, a local chapter of a worldwide voluntary body of entrepreneurs that provides support and networking opportunities for other entrepreneurs.
According to Tomlinson, “Business owners who believe they can continue with their previous business plans because normality as we knew it before 2020 will return, are making a big mistake.” Tomlinson, who in his professional career is the chairman of ALPS, a provider of motor claims solutions, road rescue services and legal expenses insurance throughout the UK, continues: “Accepting the lack of the predictable – or so-called ‘normal’ – will present many new opportunities to those heading into the new year with open minds – be it in existing businesses or startups.”
With new opportunities arising as a result of the pandemic, there could well be some attractive businesses and new business ideas looking for funding, which, according to Tomlinson, “means that the troves of investment capital waiting to be utilised may well find homes.”
Another of the positive opportunities comes from the increased need for businesses to focus on sustainability. While sustainability has been an issue for some time now, many people had more time during the pandemic to reflect on the bigger issues affecting the world and so environmental sustainability gainted heightened attention. While this may create pressure on some established businesses, it also allows for new openings in the business environment for those with an entrepreneurial mindset.
One change likely to continue is the far greater adoption of remote working. Although technology has developed so much in recent years that the idea of not having to be in an office environment physically is something we all probably knew was possible, it took the pandemic to force us to experiment, a test that proved that is in fact possible to continue to run businesses and to be productive without having all one’s staff present in an office.
According to Firdaus Nagree, the CEO of FCI London, one of the largest luxury furniture and interiors brands in the UK and a board member of Entrepreneurs Organisation, “It’s likely that we will continue to experience the trend of moving away from traditional jobs to embrace more flexible environments. We’ll continue to see movement out of big cities as people make lifestyle choices regarding where they live and work. With this in mind, many will continue looking for remote work opportunities, often embracing multiple, simultaneous job opportunities over full-time roles.”
Moving from big cities to smaller towns means that there is probably going to be greater support for local businesses – good for regional and local economies, as well as for creating new opportunities for enterprising businesspeople. “While it’s been a rough ride for many businesses, for others, opportunities have presented themselves in the midst of chaos,”Nagree says.
These concerns highlight the need by employers for a greater focus on employee wellness, especially where mental health is concerned. Feelings of isolation and uncertainty about the future have definitely been issues facing staff over the past two years, more so than prior to the pandemic.
Ultimately, the one thing we are far more likely to be better prepared for during 2022 and in future years is how to cope with uncertainty. When one cannot know for sure what is likely to happen in the near- or long-term, business-owners will have to be flexible and creative in order to survive.
