• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Contact

Daily Business Magazine

A magazine complement to the Daily Business website

  • Life, Arts & Leisure
    • Creative
    • Festival
      • Festival Reviews
    • Film
    • Food & Drink
    • Stage Shows
    • Life
    • Leisure
      • Rio Recommends – dog walks and cafes
    • Homes
    • Style
    • Travel
  • Opinion
    • Bill Magee
    • Craig Alexander Rattray
    • Karen Harvie
    • Keith Anderson
    • Russell Dalgleish
    • Terry Murden
  • Interviews
  • Notebook
  • Working Life
    • Careers & Management
    • Finance and legal
    • Technology
      • Tech Talk
    • Well Being
  • Daily Business News
    • All Content

Business in lockdown: how firms are coping with the crisis

April 11, 2020 by Alasdair Northrop Leave a Comment

Close shave: Petra Wetzel’s new look

Companies have had to find new ways of working and some say they will be better placed when the lockdown ends, finds ALASDAIR NORTHROP


Scottish companies are managing to continue operations thanks to technology that would not have been available 20 years ago.

A question and answer review by Daily Business has revealed a general optimism among a cross-section of firms that they will get through the current lockdown crisis, though with understandable concern about how long it will continue.

Many say that the new procedures they have adopted may become permanent, with some saying their teams have adapted quickly to new technologies which are already improving business performance.

However, there is some concern over firms delaying payments and using improper tactics to win business.

On a lighter note, some business leaders have adopted new temporary roles, including brewery boss Petra Wetzel who is doing shifts in the warehouse.

Petra M. Wetzel
Founder and Co-Owner, WEST Brewery, Glasgow

What does the company do?

WEST operates two breweries, a beerhall, restaurant & events venue

Changed work patterns

After the Prime Minister asked people to keep away from pubs and restaurants our beerhall revenue dropped by over 60% overnight. We took out 50% of all tables, installed a hand wash basin at the entrance and went 100% cashless.

We cleaned the venue so often our head chef joked she felt like she was in the “swimming baths.” A few days later we closed for good and we don’t know when we are allowed to re-open.

Given we operate a venue and sell keg beer to the on-trade, 95% of our revenue disappeared within 24 hours. We have furloughed all but five WESTies (1 in the warehouse, 1 for marketing and 3 in the brewing team) and we now run very strict social distancing measures for those people.

We still supply supermarkets and have promoted our online beer shop, but that’s less than 5% of normal turnover. I am currently busy planning a schedule for when we are allowed to trade again as I believe there will still be restrictions in place and we need to make sure people feel safe when they come and visit us in the Wild WEST.

Since lock-down I have worked as the newest warehouse trainee. I have packed well over a thousand boxes for our online shop in the last two weeks.

Upside

Adversity always shows me who the true “stars of the show” are and who is maybe just there to collect a pay cheque. It will be an invaluable lesson for the future and I have already earmarked one person who has shone brighter than anyone else. You could say I have found the next MD of WEST in the process!

Downside

“Does not making any money and having lost 95% of turnover count?” 

Oh, and I lost all my hair 10 days ago to my clippers…

Outlook: positive or negative? 

There is no point being negative. That won’t get us anywhere. The rest of 2020 will be incredibly tough and we will make a massive loss as a consequence, but ultimately, we are made of strong stuff as a team. I am more concerned what happens to our long-standing smaller beer customers. They will really struggle and some may never re-open which would be ever so sad.

Adrian Sangster 
Leasing director, Aberdein Considine 

What does the company do and what is your role?

Legal, property and financial services firm. My role is to manage our lettings, property management, inventory and maintenance departments.

Changed work patterns

Lettings: attendance at properties to undertake valuations and viewings have ceased completely.  In the majority of cases, however, we are able to provide desktop valuations and video tour viewings.  

We have witnessed higher than expected tenancy enquiries from key workers seeking to move into areas, or distance themselves from vulnerable family members/partners who they share accommodation with. Enquiries from Landlords seeking legal/tenancy assistance have also increased.

Property Management: initially there was a spike of notices to leave, predominantly from students, as people returned to their own countries and families.  

We have also experienced a number of requests to negotiate rental levels for employment reasons, and to be fair the vast majority of landlords have been very receptive and willing to do so.  

Rent arrears have increased, but not to the extent that I feared.  Repairs are still required in properties as tenants continue to report the most urgent of issues.  The availability of contractors is less so these repair works can take longer to resolve.  

Upside

When you do something every day you sometimes don’t appreciate what you already have.  We have always been keen to embrace technological advancements.  This means despite the majority of our teams working from home we have been able to track and complete almost all task remotely.  I have been doing this for almost 30 years but if this had happened 10 years ago it would have be almost impossible to function at all.

Downside

Whilst we are in regular contact with our teams who are working remotely, you can’t beat the buzz and banter of the office environment.

Outlook: positive or negative?

I’m a glass half full person, and there are undoubtedly positive lessons we will take from this.  It really makes you focus on what really is important and core to delivering a first class service to landlords and tenants.

Scott McGlinchey
CEO, Exception, Edinburgh

What does the company do?
Digital IT solutions. We help companies engage with cloud technologies.

Changed work patterns

Having invested in our own operational digital footprint over the last five years we were able to respond swiftly to the pandemic as our systems are all cloud based, accessible remotely and, importantly, well-established. The transition to remote working has been very straightforward for us and we have been able to continue supporting our clients with staff working from home. All our communication and collaboration is now done virtually.

Upside

Through our weekly “show and tell” broadcasts our project teams showcase the work they have been doing with our clients. We would have normally done this in the office. Now we do these virtually which has had a positive impact on attendance (since people can access from anywhere) and also means we can record the sessions, allowing people to watch and re-watch at their leisure. There is also more cross functional working than before and people are sharing more about themselves.

Downside

Technology doesn’t replace human contact. You now need to be very well organised and planned to execute initiatives and strategies now. I find more spontaneous, personal interactions can often spark great ideas. Virtual interaction sometimes misses that spontaneity.

Outlook: positive or negative?

As the CEO I approach change with a positive mindset and belief. The latter is extremely important. I am confident that we will come out of this with some new ways of working that will have a really beneficial impact on the business.

Simon Cotton
Chief Executive, Johnstons of Elgin

What does the company do?

Luxury cashmere manufacturers with the only remaining vertical mill in Scotland. We also have retail outlets around the country.

Changed work patterns

We took the decision to close our five stores in the UK at the end of March and that was followed by shutting down our two mills in Elgin and Hawick.

Despite robust procedures put in place to reduce the risk of infection being spread and staff working from home, it was simply not safe to continue, and we are now in a position where over 90% of our staff have been furloughed.

Due to the layout of our warehouse we can still supply to our customers through our web site which is seeing significant increases in turnover from gifting, loungewear and products for people’s homes.

Upside

Those staff working from home and the few staff remaining in the offices have done an amazing job and gone over and above to ensure people are paid, IT links are running, designs are still being developed for future seasons and machines are being maintained.

Our senior managers have been meeting every day to make collaborative decisions that we have had to take on an almost hour by hour basis. 

Communication has never been as good and there is a spirit of common purpose and a very united determination.

Many of our customers have demonstrated their values by honouring their commitments and working with us on payment terms to support our cash flow.  We have really seen the value of the excellent relationships we have with the best luxury fashion brands in the world. 

Downside

It is very sad to see the weaving looms and knitting machines standing empty and for the busy, social buzz of a working mill to have gone silent.  We know it is for the best, but we will be very happy to get our community together again. 

It is devastating to see the effect the sudden drops in demand are having on cashmere producing communities in Mongolia and China.  Drops in global demand will generate real hardship for herders and farmers.  Our young herder training programmes which are delivered through schools will now be delivered on-line to pupils sitting in their ger tents in the middle of the grassland!

Outlook: positive or negative?

We’ve been around a long time and the company has battled many challenges throughout its 222-year old history. Unlike 99% of the textile industry, we operate all processes from fibre to finished product in our own mills in Scotland and that puts us in a better position than some.

One school of thought is that when we emerge from this period of huge change, mass consumerism as it was, may encounter a seismic shift in direction. Before covid-19 this was already starting to happen and many brands were having to re-think their business models.

It’s difficult to call. Many of us will still be addicted to those bargains and low prices, and this may impact on the behaviour of fashion retailers. The impact of the pandemic on retail will be a huge shock to the system, with a lot of brands going out of business. The commercial drive to be ruthless has never been greater.

Whatever the outcome, we will remain committed to our people – they are the core of our business. We believe this is our most important investment, the foundation of our success and the springboard to our development in the future. Yes, there will be change, but we continue to make people our priority, as their hard work and unique skills push our business forward.

Gilad Tiefenbrun
Managing Director, Linn Products, Glasgow

What does the company do?

Design and manufacture of high-end audio systems for the home.

Changed work patterns

In mid-May, we split the production team into two non-overlapping shifts of about 20 people in order to minimise contact and apply social distancing. All in-person meetings were cancelled and non-production staff started to work from home wherever possible. 

As of 1 April, we were forced to furlough 150 of the 160 workforce because we ran out of parts from our suppliers to make products. We now have just a skeleton staff to ensure we can continue to communicate with customers, receive orders, process payments and accept deliveries, but all new product design and production is paused.

Upside

That’s a tough one! We’re making better use of the internet as a communication and training tool with our trade partners.

Downside

We have seen weaker demand for our products, which are sold through shops globally that are mostly closed. Some key UK and European suppliers have closed, we hope temporarily, resulting in the inability to fulfil many customer orders.

Outlook: positive or negative?

We’re in a better position than most businesses. There is still some demand for our products. We are global, so we are seeing sales gradually improve in China, Korea, Taiwan and Japan. And we have some cash reserves plus a very supportive banking partner in Barclays.

We need restrictions on shops to be lifted to some extent around the world to see demand return to pre-crisis levels. We would also like the UK and Scottish Governments to urge manufacturing companies to stay open or re-open – assuming, of course, they can enforce social distancing.

Kathrin Hamilton
Partner, Baillie Gifford, Edinburgh

What does the company do and what is your role?

Independent investment partnership with 11 offices worldwide. I work in the clients’ department looking after North American clients.

Changed work patterns

We went swiftly from an office-based organisation to working from home. This has been fairly seamless thanks to good progress from our IT team which means we already have the equipment and technology to work remotely and keep in contact with clients or each other.

We learnt from our colleagues in China and provided extra IT training and support to staff before the lockdown.  Importantly, for an investment firm, critical functions like trading have operated with little disruption. Teams that can’t work normally – such as travel and catering – are supporting our response to the local Covid volunteer effort instead.

Upside

We’ve always focused on our culture, maintaining it as we grow. That’s the best investment we could have made. It has been inspirational to watch everyone pull together – not just to minimise disruption to our clients, but to take care of each other and come through this stronger as a firm.

Downside

We are learning and adapting as we go.  People have a lot on their minds, and some are working different hours because of family needs, so we must be considerate with emails and not assume everyone is glued to a laptop. This means that the working day can start to ‘spread’ – perhaps it’s necessary but I worry about the toll that takes on people.

Outlook: positive or negative?

We’re a firm that invests in companies over decades, so optimism is part of our DNA. Of course, there are challenges and this is a critical situation, but it will pass. We’ve been through crises before, each one is different but with a recurring lesson – keep calm and endure. This time, thanks to technology advances and community spirit, there are a host of businesses enabling us to connect, adapt and survive. So in 2020 we are better placed than ever to cope in a crisis.

Michael Field
Managing Director, Workflo Solutions, Livingston

What does the company do?

Records & document management, digitisation, managed print, managed IT services.

Changed work patterns

The lockdown has driven an overnight change in customer behaviour, and the closure of their offices across the UK. Print production on our managed devices, has almost flatlined, affecting our revenue, cashflow and operating profit. Like our clients. we to have had to change our working patterns.

Whilst a percentage of our staff have been furloughed, we have a strategic team working remotely from home facilitating finance, administration & technical support. Utilising virtual platforms like Microsoft Teams to communicate across the business and with our client base.

Upside

It is great to see our staff adopt new technology, embrace new ways of working. Such experience will help drive new efficiencies when we return to office working.

Downside

Aside from the immediate impact on office print activity; virtual meetings, at least for me, are underwhelming when compared to good old face to face.

Outlook: positive or negative?

When we come out the other side of this we must not allow anxiety to halt commercial activity. Quite the opposite, we should engage in active trade quickly, passionately, and we must be wholly committed to turning the tide of recession. Should we keep the recent mantra of “we’re all in this together”, then without doubt, the future is bright and positive.

Peter Thomson
Managing Director, Thomas Thomson (Blairgowrie)

What does the company do and what is your role?

We produce fresh blueberries and cherries, sold mainly through the main UK multiple stores. I oversee all aspects of the company, including planning, accounts, health and safety, compliance, production, sales, research and employment

Changed work patterns   

So far, little has changed, as agriculture and food production is an essential industry, recognised by the government. We have our office staff working from home, but field staff must work outside, although it is easy to keep a physical distance there.

Transport between sites is now difficult to arrange. We have to run minibuses with a few people multiple times. We also need to provide more washing and hygiene facilities.

We are only in the growing stage of the year, problems will multiply when we need many more people for harvesting, when the large numbers will make distancing difficult, even for processes like induction and training. We are looking at adapting large areas for this. In our packhouse, we do have people working close together, and aim to separate work stations with isolating sheeting, so that there is no direct contact.

Upside

Extra communication between all staff.  

Downside

Planning with total uncertainty. Extra expense incurred with little prospect of it being recovered.        

Outlook: positive or negative?

Negative unless lockdown is ended and workers become available, as well as customers in shops to buy a perishable product. Since our fruit is great for health and well being, demand may grow hugely.

Robert Kilgour
Executive Chairman, Renaissance Care

What does the company do and what is your role? 

We supply personalised care in 15 care homes throughout Scotland. I am the Executive Chairman and provide strategic input and direction, supporting my managing director, the senior team, my care home managers and our amazing 1,100 staff caring for our vulnerable elderly residents.

Changed work patterns

We have had to develop systems where our 15 care homes throughout Scotland, essentially local facilities, have had to be able to communicate with our central support office in Musselburgh with no face-to-face meetings.

We’re busier than we’ve ever been, but with about 15% of our staff off for various reasons, including those who are self-isolating. The result is we have some staff who are volunteering for double shifts, with some even living and working in situ.

It’s truly humbling and inspiring to hear what incredible things our staff are doing to look after our 700 residents and support their colleagues daily in very trying circumstances.

Upside

Personally, I’ve developed technical skills and abilities that I didn’t previously have to communicate with my people and my wider network daily. Similarly, throughout the business there have been huge improvements in our use of technology. This crisis is an undoubted game changer for business in every sector. People will have to be ready to change and adjust to a more technological future.

Downside

There is a growing feeling in the social care sector that it is under-appreciated by all governments – local, regional and national – and even that care home staff are being treated as ‘cannon fodder’ and ‘second class carers’ by many branches of government during this crisis with issues like the lack of PPE.  Unless this changes urgently there will be a huge loss of morale which will harm recruitment to and retention in the sector.

Outlook: positive or negative?

In the aftermath of this crisis, top of my list is to improve further our staff’s communications technology. I think you’ll find that this will be a consideration of many businesses who have realised that more remote and home working is now practical with the technology that is now available.

Sian Wilkie
Director at Wilkie & Rider, Dumbarton

What does the company do?

Opticians and Jewellers

Changed work patterns

Firstly, we furloughed all but three staff members. We managed to run off a skeleton team keeping to normal opening times dealing with emergency and essential eye care only.

As the weeks passed the rules seemed to change constantly, we are now open on reduced hours and not allowed to see any patients in practice. As a service we take some pressure off the doctors and other NHS departments so will continue to remain open in order to triage emergencies and deal with some issues over the telephone.

Our priorities are protecting the staff members who have made the commitment to work through this troubling time. Being there for our loyal customers and patient of some who are frontline workers, they need us to be available to send out contact lenses or fix broken spectacles. We are also here for the local community in an emergency capacity.  It is a very strange new normality we find ourselves in.

Upside 

Team spirit. Even just everyday interactions with customers, everyone is a bit nicer, more understanding and compassionate. Our suppliers have also been great through all this, extending terms on bills and fulfilling orders quickly.

Downside

Financial uncertainty, the grants and support the government is rolling out is going to help out tremendously However ,navigating through things now before the grants and help is actually available is proving challenging. 

Outlook: positive or negative?

Positive. We all have time just now to re-evaluate how our business works, and reflect on the positives and negatives and make adjustments and changes, so once we get through this difficult time we come out stronger, more focused and thankful. 

Once the support becomes available our business should be able to keep our staff furloughed and our key workers paid their full wages. For us that is the main priority. When we get back to normality, I think people will be more mindful of one another. I hope community spirit will be re-established.

Chris Peace
Managing Director and Owner, Peace Recruitment, Edinburgh

What does the company do?

Independent Scottish construction and property industry recruiter.

Changed work patterns?

Besides public sector projects, where our contractors have been able to work from home, all the construction sites in Scotland have drawn to a halt because of social distancing.

We have dropped about 85% of our people that we had out on contract. That is obviously a horrific situation. Hundreds of thousands of lost turnover and profits, and that is ultimately wages for everybody else, and income for the Scottish economy.

All of our permanent appointments delayed or stopped altogether. Our pipeline of live vacancies has fallen off the edge of a cliff as well. It seems a bit unaligned because in England a lot of the construction sites are being allowed to stay open whereas in Scotland all (except essential) of the construction sites have been shut down.

A client said his company has an internal debate because the English Government seems to be a bit more relaxed about construction but in Scotland it is not happening. So it is not good.

I have 25 direct staff and all but me and my fellow director are furloughed. There is no pro-active work to be done. Fortunately, we have got enough cash reserves to pay the wages and hopefully claim it back at the end of April from the Government under the coronavirus job retention scheme.

Upside

Certain clients are paying us early. I am paying my suppliers early because I want to make sure they stay afloat and want them to view me as somebody to work with as a partner.

So, it brings clarity to who is on your side and who is not.

Internally, you can see which team members are willing to roll up their sleeves. When the going gets tough are they there to support the business?

Downside

What it does is stir the pot so you can see which clients view you as a true partner and which clients view you as a supplier. Those that just see you as a supplier won’t pay you what they owe you and you will be lucky if you get your debt back in 80 days.

What you can do is when everything comes back and they are desperate for staff you can say ‘well you remember that time when things got really tough?’

As a small business I am probably going to lose out on c£300,000 worth of profit in a six week period. That is not great but there is no point getting upset about it. It is what it is. The key point for me is keeping the team engaged and maintaining communication. That last thing I want to do is lose my key assets, which is my team! You just try and be the best leader you can be.

Outlook: positive or negative?

I am expecting a tsunami of jobs to come back to us with effect from mid-May, maybe June (who knows!). We have got literally hundreds of guys out on sites and those projects still need to progress. There is no coronavirus clause in these construction projects that were already onsite. If you have got a large supermarket opening on 1 October, they still want to open on 1 October. If you open up late there could be penalties in the contract. So I am expecting it to come back quite full-on, especially on sites with an early completion date.

Andrew Blain
Managing Partner, Shepherd and Wedderburn, Edinburgh

What does the business do?

Commercial law

Changed work patterns

We are fortunate to have well-established agile working and business continuity programmes, so while it was a challenge to move more than 450 people to working from home at such short notice, there was no interruption to client service.

We have now all been working from home for three weeks, communicating internally and externally by video conference and conference call. Teams have settled into a routine of daily team meetings and have also sought to recreate some of the social aspects of the office with virtual Friday drinks and regular catch-ups.

Senior management are also meeting daily to review matters in what has been a rapidly developing situation. Only a few weeks ago we were grappling with whether or not to proceed with events. That seems like a lifetime away now!

Upside

Throughout, it has been so encouraging to see colleagues across the business find new ways to work together, sharing knowledge, pulling together and supporting clients through new initiatives such as our COVID-19 Advisory Group. The crisis really has brought out the best in our people.

The debate around agile working has moved on beyond recognition in these few short weeks – as have the IT abilities of many of my colleagues! Some working practices will likely change as a result.

Downside

The loss of the unplanned social engagements the office environment naturally provides. You have to work much harder to recreate this digitally. Digital drinks are not quite the same, though we are all having to get used to keeping in touch with colleagues, friends and loved ones remotely, so our attitudes to that too may change.

Outlook: Positive or negative?

The enormity of the situation we find ourselves in is unprecedented, but we must remember we are all in this together, and collectively we will find our way out of this. It will undoubtedly be tough in the short term, but the most important first step is defeating this virus.

Alan Wilson
Managing Director, SELECT

What does the organisation do and what is your role?

Formed in 1900, SELECT is the largest trade association in Scotland and represents those working in the electrotechnical sector. We have about 1,250 member businesses

Changed work patterns?

Our 40 staff have been working from home since 18 March, with each department staying in touch through online software such as Teams and Zoom. We have used the same measures to maintain regular management team meetings to ensure our strategy is in line with the latest developments and we’re able to address every challenge quickly and effectively.

We also took the decision to furlough some staff for three weeks from 6 April. However, despite these changes, our working patterns have remained much the same. We are very keen to stress to members that, although there may be physical disruption, we are still able to deliver the same level of service at the time when they need us most.

Upside

It’s heartening to see how our staff have risen to the challenge of remote working, with no interruption to our service. Ensuring we remain in touch with members regularly via phone and email also seems to be well appreciated by those currently in lockdown. Our online presence has also risen sharply, with the creation of a dedicated COVID-19 hub on our website, plus our social media channels have seen increased traffic as we find new ways to communicate the many rapidly-changing updates.

We’ve also launched online training to help members improve their skills and stay compliant, which has been much appreciated. We’ve also been working hand-in-hand with 15 other industry organisations as part of the Construction Industry Coronavirus Forum, and it’s been heartening to see everyone working together with one common purpose.

Downside

The loss of face-to-face contact has been a challenge. As well as regular member visits and technical assessments, we’ve also had to cancel our Toolbox Talks and SELECT Awards, which are always extremely popular. We’ve currently developing alternate ways of delivering our Toolbox Talks online, to ensure members don’t miss out on the technical updates they rely on.

Outlook: Positive or Negative?

With the loss of income and future projects, particularly for the large number of our members who are micro and small-sized businesses, I think the word is ‘uncertain’ at the moment. The construction industry can be unpredictable at the best of times, but this crisis has put us all to the test. One of the most important things we can do is continue to provide help and guidance. Whatever the landscape in six, nine or 12 months, our members will know we’re by their side to help them face it together.

Brian Williamson
Chairman, 4icg

What does the company do?

The company  generates business for the largest technology companies in the world and does this in 32 countries.

Changed work patterns

We firstly identified employees to be shielded and established them in our home working team. We then considered distance working practices on the two floors of our Glasgow office. We extended working hours and increased the proportion of home working staff to achieve a greater distance working practice than recommended. We dedicated different entrances and kitchen areas for each floor and introduced a rota for breaks.

Upside

The morale of all staff was always high but taking the right precautions has made our staff aware we have their interests at heart. The dedication of our staff during this time has been fantastic. These things have created an even deeper bond between staff and Directors.

Our big gain is that we have won significant pieces of work with organisations that have, at the moment, communication challenges. We have the ability to take on projects to not only communicate with a  high volume of stakeholders but interrogate their challenges very quickly.

This provides valuable data to our clients at a time when they thirst for data to make the right decisions. We are handling up to 1 million inbound or outbound calls every month. Without these contracts and with 150 mouths to feed we would have been in a very difficult situation.

Downside

Managing cash is even more critical at the moment and working through the various Government support schemes can be challenging. It consumes much needed resource Our ability to have face to face meetings has reduced significantly but the options through Microsoft teams and Zoom to do these remotely has really helped minimise that impact. That may end up as a new way of working post virus.

Outlook: positive or negative?

Our growth was 30% to 50%  year on year prior to the crisis and we are very positive that demand will return in the medium term. Our client base contains the largest technology companies in the world and we do feel they will rebound back with even greater needs. Our additional contracts won during the crisis will in the medium term add to our already positive growth. So in the medium term we are very positive. However in the short term we have to manage our way through this crisis very carefully and that is full of unknowns.

Alan Fair
Director, Contact

What does the company do and what is your role?

Builds websites and manages marketing campaigns with a mix of Search Engine Optimisation and Online Paid Ads. My main role is strategising and executing the marketing campaigns and planning the website builds.

Changed work patterns

Not much has really changed for us, thankfully. We’re a small team that worked from home for about 10 years together and so we’ve simply reverted back to the way we worked before we had the office.

Upside

Focus has actually improved on project tasks as we don’t have as many distractions as we had in the office and the lunches are much healthier and more cost effective since we don’t have to buy from the city centre shops.

I’m talking with more clients to help them through this tough time, so that’s improving business relationships quite a bit.

Downside

The downsides are that planning is more difficult to do (that’s why we got an office). There’s nothing like being in the same room with the team or client and pointing at things and sketching ideas where someone else can sketch or write on top, it feels like it’s more effort and gets in the way of solutions.

Outlook: positive or negative?

I’m incredibly positive about the future, I’ve been through the 2008 banking crises and the dotcom crash in the late 1990s.

I’m using the downtime to restructure our offering, making our product offering even better and getting ready for the new normal. I’m undertaking research into the industries that will gain from this situation, so practising what I preach to our clients to get ready for the next step.

I’ve already started getting new requests for quotes from businesses wanting to prepare for their return to market. So from what I can see there is a lot of positive action starting to be taken now.

Marlene Shiels
Chief Executive, Capital Credit Union, Edinburgh

What does the company do?

A member-owned, financial services co-op which helps people save for the future, build resilience and access affordable credit. 

Changed work patterns

Credit unions are classed as an essential service, same as banking, so we are open for our members.  We have 75% of staff working from home with a small number working from our head office in Edinburgh.  As a result of members not borrowing to the same extent and people wanting to save more, in case it gets worse, business has dropped quite a bit.  Most of our member contact now is through internet banking or the phone. We have closed the office for face to face visits.  We are busy, however, working on new products and services to meet members needs when we get back to the new norm, whatever that looks like.

Upside

We are working more closely than ever with members as their circumstances change.  Being here, non-judgmental, with solutions rather than problems, our members are telling us this is really appreciated.

Downside

Not being able to do what we do as a team.   Staff are missing being able to interact with each other, they are missing member interaction too, isolation and social distancing comes at a human cost.

Outlook: positive or negative?

Definitely positive. When this crisis is over, CCU is ready and waiting to help all our existing members rebuild financial resilience through saving and low cost loans, but we want to be here for many more people. There will be many lessons learnt from COVID19, one of which is ensuring you can cope financially in an emergency. 

Neil Mitchinson
Managing Director, Edinburgh Asset Finance

What does the company do? 

A fully regulated short term lending business which allows customers to secure discreet loans promptly and invisibly by using high value personal assets as collateral.

Changed work patterns

Our business is fortunate as it is deemed to be an essential service, so we are allowed to remain open and trading during these difficult times.  The way that we operate has definitely changed though – most obviously by everyone now working from home. 

We are able to do asset assessments and make loan offers online, we can issue loan paperwork by email and for collection of vehicles or high value assets; we are insured to go to the clients to collect from them – whilst obviously adhering to strict social distancing protocol.  Staff are on rotation, so that one of them visits the office once per day to collect the mail to ensure we are kept up to date. 

Upside

We found the first two weeks of the official lockdown to be much quieter than usual for any lending enquiries, but by week three we were seeing a definite increase in contact from individuals who have never previously used our services. 

Many of our existing customers, who know our service well, have been in touch to discuss and plan how they might best use us in the months to come.  At the moment our company has probably seen an overall drop in business, but we believe that our product is extremely viable for the challenges faced by many individuals and business owners in the coming months, so we are expecting things to get steadily busier.

Downside

We are certainly finding a slight increase in people unable to repay at the end of a loan term and we are working with a number of customers by agreeing to extend for 2-3 months to allow some extra time for them to find a solution. 

There are also a couple of cases where we have had to sell assets in order to recover our funds when a loan has gone past its end of term date. We are seeing some luxury asset values soften, which will not come as a surprise given the current climate.  The decreasing asset values also has the effect that we are having to be far more conservative with our loan to value ratios when agreeing a loan at the outset. Thankfully, customers have been very understanding about this as it has the upside for them that they haven’t been forced to fire-sell prized possessions at the worst time to achieve a reasonable price.

Outlook: positive or negative?

Whilst our business should be able to profitably trade out of this extraordinary period, it is difficult to see many positives – other than the upside to the environment and people’s realignment of priorities towards health and family.  From a business perspective it is going to be heart-breaking to see so many hard-working companies have to start all over again, or worse, no longer be viable at all.

Gill Baird 
Founder & Managing Director, Cosmedicare UK, Edinburgh, Glasgow and Stirling

What does the company do?

We specialise in cosmetic & reconstructive surgery and private GP services.

Changed work patterns 

Our clinic has not been asked to close, however our medical and management teams decided collectively that in the interests of patient and staff safety that we will only provide the majority of the services virtually through telephone and video based consultations with our consultant plastic surgeons.

So we’ve converted all initial phases of our patient pathway from face to face consultations to virtual and telephone-based approaches to deal with the lockdown period. We have also postponed all surgical services which are not deemed urgent or medically necessary as well as modifying medical services. 

All of our senior medical team have had their NHS commitments adjusted and talks are ongoing to establish how we could potentially support the NHS with vital procedures and services throughout this period.  

Upside

Communication has always been a strength of our business, and our close collaboration between Consultants, Clients and Care Coordinators has further improved with everyone pushing that extra mile. Relationships have strengthened and our team have built stronger internal links with a heightened respect, understanding and appreciation for everyone’s roles. 

Downside

Given the nature of the industry we operate within, we anticipated seeing various competitors adjust their services to protect themselves through the crisis. The slowed pace and uncertainty of when anything resembling normal service can resume has an effect on planning, with the majority of our procedures planned months in advance. This has made it more difficult to forward plan procedure dates and subsequently staffing and financial projections.

However, the way in which some of our competitors have responded, mainly in the provision of private Covid-19 testing, has once again brought the industry into disrepute, with medical ethics questioned as there is currently no approved, accurate testing available out-with the NHS.

Our continued approach to placing patients before profits and abiding by medical ethics has likely led to a lost revenue generating opportunity, but we maintain this is the right decision for us and our patients in line with our company ethos and commitment to best care standards. 

Outlook: positive or negative?  

The financial impact is yet to be seen. It will likely be affected by clients’ own personal changes in circumstances. However, on a positive note, our agile business model has placed us in a very strong position for weathering the storm. Our patients have also been extremely supportive and understanding of the lack of control we have as an organisation in rescheduling their procedures.

Stuart Clark
Managing Director at Russell & Russell, Glasgow

What does the company do?

Business advisers and accountants

Changed work patterns

We had already started planning for flexible working in December 2018 and had invested in new laptops, a remote server and other software to assist with this, but obviously working from home full time is totally different.

We’ve moved away from the typical 9-5 (or 10-3 as we had when on flexi-working) as some of the team have children to look after during the day. We still have our daily huddle, we just do it via Zoom now (which is sometimes a strain on the bandwidth when the kids are watching Disney+ in the other room)

Upside

For some of the team there are definitely fewer distractions / phone calls etc and we are moving more towards focusing on everyone’s outputs. As with every business I imagine that our carbon footprint is a lot lower (less travel – although flexi-time also helped with this) and a lot less printing.

Downside

The huddle takes a bit longer, but is a good way to have some structure to the day and to check in with the team (especially those who are living alone). We did take on a new trainee the week before the lockdown and so training has been a bit more challenging, but as we already used Zoom and Xero / were cloud based its not been too bad.

Outlook: positive or negative?

Who knows? If it is just a few weeks, then relatively positive as this is a recession caused by the government (rightly) imposing a restriction on movement.

Once this is lifted then we should bounce back quite quickly, assuming that the companies are still there to bounce back. This is the key issue – the government support has been incredible, but there are also glaring omissions and the Scottish Government’s pledge to match England has proved incorrect as owners are restricted to claiming the grant for only 1 property if they own numerous sites.

With regards to ourselves, we’ve never been busier, although a lot of this is just supporting clients and helping them through this tough time, but people will always need an accountant and support and advice is going to be crucial going forward. We’re still getting enquiries from new clients so I’m quite positive and the feedback we’ve had from our existing clients has been great.

Gary Thorn
Managing Director at Cube Glass, Cumbernauld

What does the company do?

Manufacture and installation of aluminium curtain walling, windows and doors

Changed work patterns

We had implemented split shifts prior to the complete lockdown to ensure safe working distances but now the entire operations staff and office staff have been furloughed. Until last week we had project managers and estimators working from home but we’ve taken designs as far as we can and now we only have two people working from home to provide technical advice, quotes and importantly chasing debts which in construction is never easy.

Upside

There are no odd jobs needing done around the house now!

Downside

We’re not manufacturing anything now so our operatives are climbing the walls.

Outlook: positive or negative?

Concerned. We must find a way to get back to work safely, but quickly. We have learned to live with other life-threatening diseases and we accept them as part of life. This disease has to be managed in such a way that it does not destroy lives, our mental health or our economy.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Cover Story, Working Life

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar



Editor’s Pick

Charlotte Evans

Review: Charlotte Johnson – My Dad and Other Lies

Andy Moseley

… [More...] about Review: Charlotte Johnson – My Dad and Other Lies

Amy Molloy

Review: This Is Paradise

Andy Moseley

… [More...] about Review: This Is Paradise

Edinburgh Fetival visitors

The good, the intriguing and the questionable

Terry Murden

… [More...] about The good, the intriguing and the questionable

Psychodrama

Review: Psychodrama

Andy Moseley

… [More...] about Review: Psychodrama

Advertising



Footer

  • All Content
  • Site Map
  • Privacy Policy
  • Facebook
  • Twitter
  • Instagram
  • Email
  • LinkedIn
  • WordPress

Copyright © 2022 · Design by jPAD Consulting · Magazine Pro · Genesis Framework

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
 

Loading Comments...