How can Cambridge businesses bounce back post-COVID-19
As businesses across the UK tentatively start to reopen and return to work, a lot of people are looking ahead to the potential economic consequences of the COVID-19 lockdown.
While many companies will be able to reopen and begin trading again immediately, there are lots of businesses across Cambridge that may struggle to get back on track when the economy gets going.
Understanding how the lockdown has affected these companies should give you a better idea of how you can support them. This will help them to bounce back as quickly when lockdown is over.
How the lockdown has impacted businesses in the city
Almost all businesses in Cambridge have been affected to some extent by the lockdown. Many pubs, restaurants, cafes, shops, and gyms have been closed since the end of March and many other companies have had to furlough workers or ask employees to work from home.
While some businesses have been able to continue operating, there are many that have been forced to close completely for the duration of the lockdown.
What makes Cambridge resilient?
One thing that Cambridge businesses have in their favour is their location. The city’s reputation as a hub for innovation and learning means that it’s always attracted investment and development.
What’s more, the city is one of the UK’s top tourist attractions and its university draws thousands of students from around the world.
This all makes the Cambridge economy very resilient and ensures that businesses, tourists and students will return when the crisis is over.
To help businesses weather the storm until things return to normal, the city is making a significant amount of funding available.
As @Cambslive says, “The mayor of Cambridgeshire has announced a £2.3 million “war chest” to provide capital investment for businesses to help them “bounce back” after the pandemic shutdown.” This should go a long way to helping the economy make a full recovery.
Supporting businesses through the crisis
If you live in Cambridge or the surrounding area, you can help the city’s businesses to bounce back by supporting them through the crisis.
A lot of companies based in Cambridge have come up with innovative ways to keep working through lockdown, with restaurants, pubs, shops, and cafes offering a choice of products for takeaway and delivery.
Wherever possible, try to buy local produce and support local businesses. If companies can keep some sort of revenue stream going during the lockdown, it will be a lot easier for them to bounce back when things get back to normal.
If your favourite shop, pub, restaurant, or café isn’t open right now, go online to see if there are any other ways you can support them.
Find out more about supporting businesses in Cambridge, and learn how CheckedInn is helping the city get through the crisis, by exploring our site today.