Finance & Businesses

Commercial Finance Broking in 2020 the strangest year ever!

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I have worked as a finance broker since 1998 and have seen some strange times but 2020 is a new one for me as I am sure it is for you!

The initial response in March was dramatic, everyone seemed to shut down. Projects were postponed or even cancelled as many were furloughed.

I know certain industries suffered greatly and many people lived with the fear of losing their jobs or businesses as well as the health concerns.

For many this is still the case and as schools return and the various government schemes finish, we will only begin to see the true picture of the damage done to our economy.

I saw an increase in enquiries and a better response to my canvassing calls in late July as things seemed to be coming back but by the beginning of August things were quiet again as people went on holiday or just decided to enjoy the weather.

It is easy to criticise the government, but they acted based on their knowledge at the time and their assistance has helped many businesses survive through what would have been a devasting loss of income.

It would be easy to write off the rest of the year, but I think that would be a mistake, the actions we take now could make the difference when things start to normalise and we march forward.

Use the time wisely, do the admin that you have been putting off, make those cuddle calls (non-sales, just keeping in touch) and stay on course.

The roaring 1920’s was fuelled by the memories of the Spanish flu (and WW1), make sure you’re in a position to maximise the many opportunities 2021 will bring!

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