I’m here with the COVID-19 business continuity update for today, Friday 17th April.
1. The other side of COVID-19On 1st April I wrote about the three stages of this event. The first stage was ‘Weathering the Storm’ and, boy, what a stormy month it has been. I believe we are now shifting into stage 2, which is ‘Adjusting to the New Norms’. More on what you need to do to survive and thrive in this stage. The third stage is ‘Preparing for the Uplift’. Today I want to highlight an announcement from yesterday.
In the Prime Minister’s press conference yesterday, 16th April, we heard a few key messages that point to a positive outlook:
- There are fewer reported cases of coronavirus (in Victoria, there was only one new case yesterday)
- Restrictions could be eased next month, as early as mid-May
- The focus is starting to shift to how to turn the economy around.
This last point was loud and clear when the PM said cabinet will be looking at “very pro-growth” policies to “super-charge” the post-virus economy.
1. Lots of financial stimulus will flow – if you’re well positioned, you’ll be able to take advantage of it.
2. Construction will be the lever the government uses to provide a significant amount of stimulus to the economy (as they have after previous downturns) – this will assist the many associated businesses ready to scale.
3. The manufacturing sector will be encouraged like it hasn’t been in the past, watch for initiatives that highlight its preferential status – the opportunities will be in food and beverage, along with medical and pharmaceutical manufacturing. (Also look out for the flow on effects: logistics, maintenance, secondary and supporting services and suppliers.)