Is working from home the new normal?

Reports abound today that Government ministers are planning to bring in legislation to give employees the right to work from home after current guidelines end.

This could have serious consequences for many business sectors - with major towns and cities having become ghost towns throughout lockdown, ancillary support businesses have felt the impact of this throughout the last 15 months. For many businesses, whilst productivity may have remained at a satisfactory level, we have heard a lot of comments about how the entrepreneurial side of the business has suffered. We have all experienced the “what about?” type discussions around the water-cooler which just do not seem to have happened as well with online calls.

If WFH becomes the new normal it will inevitably impact commercial property in major cities as the demand for office space reduces and there are less workers looking to buy their daily coffee and lunch during a break from work. The way we all shop, which has changed dramatically over the pandemic, might also become the norm which could be the final blow for many high street retailers.

If you are worried about the potential impact to your business, or are currently facing financial issues, it is never too early to start a conversation. Here at SKSi, an initial conversation will be at our cost, not yours, and as part of the SKS Group we can provide the full range of advisory and accounting services.