As the latest, but maybe not the last, lockdown ends many firms are at a crossroads with their future strategy. Surprisingly the majority of firms are in a better financial position now, in 2021, than they were back in March 2020.

The coronavirus business interruption loan scheme (CIBLS) and the bounce back loan scheme (BBLS), together with furloughing support for staff and fee earners and staff working from home, have left many firms showing a minimal decrease in turnover – but with a substantial reduction in costs. This has made their cash position enviable compared to just over a year ago.

Is this position sustainable; or are we about to revert to pre-lockdown issues that were prevalent prior to March 2020?


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