The spread of the coronavirus continues to dominate the news as the number of confirmed cases in the UK rises daily. The outbreak, the unknown number of cases and countries to which it may eventually extend, and the actions required to curtail it, give rise to a number of pressing commercial and practical issues for businesses in relation to their employees, customers and stakeholders.
Earlier this month, the UK government estimated that up to a fifth of the UK workforce could be off sick during the peak of the outbreak, which will impact productivity and the ability to trade internationally and continue ‘business as usual’ in a vast number of ways.
The ways we work and conduct business have had to adapt to accommodate employees working from home. This, together with managing employee concerns, implementing health and safety and well-being measures, and evaluating the new business support measures announced by the government present new challenges for employers.
Then there is the impact on supply chains, the fact that third parties may try to withdraw from M&A transactions and/or default on customer and supply contracts, the impact on banking and financial arrangements, assessing whether you can apply for government funding and the matter of reviewing insurance cover. Add to this that it is AGM season – and large gatherings of people are no longer feasible - there are a minefield of issues corporate organisations need to navigate.
This hub contains links to the insights we have authored, that highlight issues businesses need to consider and, wherever possible, provide practical guidance on how to address the issues presented and/or mitigate the potential impact on trading.
If you require any assistance with coronavirus-related issues, do get in touch with your usual Shoosmiths contact or email [email protected].