Jon Collenette - Fortune favours the brave
This article was first presented in Contact Magazine published by the Guernsey Chamber of Commerce.
Back in April, many businesses in the island had been forced to close; uncertainty about staff retention and cash flow meant I spent hours with clients helping them keep a positive mind-set.
In early August with the island firmly in Phase 5, our business community now finds itself booming. With some exceptions, our clients are reporting an economy in over- drive. This is much as I had predicted – most islanders have kept their jobs on full or close to full pay and have put money aside during lockdown by not going out or away.
With spending on home improvements and eating out, fortune has favoured the brave. Those businesses that made financial sacrifices during lockdown by retaining staff, keeping stock levels up and planning ahead have taken advantage of the ‘Guernsey bounce’. Those who were over-cautious or who had spent their cash reserves before lockdown have had a tougher time.
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