Blog – March 2020
March Market Misery
A week is a long time in politics, and it appears also for COVID-19. The fact that the stock market has finally reacted should not be a surprise. We are already hearing from our own clients about possible product supply issues – if anything it shows just how imperfect the markets actually are. The impact could however be quite significant, particularly in customer facing businesses like the restaurant trade. Chinatown in London has already felt the impact. That said with an increase in home working it might actually prove positive for some IT businesses.
From a post-Brexit boost there are now plenty of potential concerns – not least the impending removal of the Entrepreneurs Relief – though with COVID-19 taking front stage, it may be that the resulting budget is rather more limited than had previously been imagined.
I am reminded of an interview with the sagest of actors, Tom Hanks, when asked about the human condition he summarised it as “It will pass” – that applies to both the good times and the bad. That is perhaps a sentiment worth hanging onto over the next few weeks.