Our Back to Business? research is based on a survey of 250 UK business owners, leaders and directors to create a true picture of business life in 2021; from the immediate impact of the Coronavirus pandemic, to how organisations are dealing with its after effects, and their strategic plans as they come to terms with what the post-pandemic landscape will look like for enterprise.
It’s clear that the impact of lockdown has not been evenly distributed, with small businesses generally suffering more than their larger peers. But, despite adversities, we believe that an exciting new chapter for many is on the horizon.
Organisations are being forced to rethink and innovate so they are better able to meet their customers’ needs. As well as bringing forward new product and service launches, we are expecting to see an increase in restructures, investments, and mergers and acquisitions.
Although it has been hard work, we are now seeing truly modern businesses start to flourish. In particular the pandemic has accelerated digital developments, with more businesses adopting online models, AI and other technological innovations that will permanently refresh the way we work.
There will undoubtedly be challenges – our research shows that the aftermath of multiple lockdowns, Brexit, exports, AI, financial uncertainty and skills shortages pose risks in the short, medium, and long-term.
However, the responses we received from the UK’s business leaders indicate that innovation and bigger thinking are going to be the pandemic’s lasting and enduring legacy when it comes to enterprise.