How do we maintain momentum to restart, recover and grow businesses post covid?

Crisis management tips from family run businesses

2020 may have come to an end but sadly Covid -19 is far from over. In its aftermath businesses will not only find themselves adapting to the 'new global normal' but have to review and re-invent what the 'normal' is for them and their workforce.

As research and experts warn of continued disruption and uncertainty for the year ahead (and most likely, years to come) the impact on businesses will be felt across multiple sectors. We have already seen that those businesses which have embraced swift change, with the well being and support of their staff at the centre of those changes, have weathered the storm well. It is those businesses that are predicted to recover and thrive in the post pandemic era.

Changes have had to be implemented at a rate unknown in the past. We have adjusted to those changes, which serves as a reminder of our resilience and bounce back power. However, last year changes were driven by momentum and fear. This year, with pandemic fatigue and complacency choking the engine of sustainability and growth, that momentum has diminished, leaving many turning to traditional business models for guidance. It is such models that saw the creation and growth of family run businesses. History has shown, that at times of crisis, family run businesses often fair better.

Despite their prominence, family-owned businesses have received less media coverage than large corporations. Yet, according to the Institute of Family Businesses, there are over 5 million family businesses in the UK, generating almost a third of UK GDP and employing 14 million people.