With the end of the festive season, the New Year is traditionally a time for us to reflect on the year just gone and identify areas for improvements which can be made in the next year. Whilst this is traditionally done on a personal sense (how to lose 40lbs in January!), this is also the perfect time to review your business processes to see if they are truly working for you and not the other way around!
Maintaining high levels of client service during a pandemic when your entire employee base is working remotely may have filled most partners and professional service firms with dread 12 months ago. But fast forward several months and this thinking has certainly changed.
2020 has been a hugely difficult year for many, particularly in respect of concerns about health, wellbeing and financial security. The Office for National Statistics estimated in September that the UK economy was around 20% smaller than at the end of 2019, bringing unprecedented headwinds for the UK’s businesses. The pressures on Public Sector bodies and third sector organisations have varied; needs have been considerable, combined with “lockdown” making delivery challenging, whilst funding from usual sources has declined significantly.
At the beginning of 2020, we were expecting this to be another strong year for the Scottish Tech scene, and in particular the Edinburgh ecosystem. Record levels of investment were forecast, and we hoped to see that next generation of young ambitious companies coming through. We're sure the showcase Tech investor event in Scotland, EiE, would have been their best attended in its history, rather than a virtual event as it turned out to be.
As we near the end of 2020, a year full of new challenges and change, there are a number of learnings we can reflect on, and questions we will ponder as we enter 2021.
For those companies which had to go through the long and painful process of accessing which contracts did and did not contain a lease, the thought of having to process the lease amendments which have arisen as part of COVID-19 filled you with dread. There is however some good news.