Ironically, if and when unemployment starts to rise as a direct result of the furlough scheme withdrawal, more and more “unemployed” persons will start to consider a business venture, being their own boss, as a welcome alternative to the vagaries of seeking further employment.

We should prepare for this.

Clients may fall into this category, and we should pick up on any signs that an employed client is considering a business option. There are several matters that budding entrepreneurs need to consider the least of which may be the risks of investing in a business for which they have no existing skills.

Also, business clients may become acquisitive. Business valuations are likely to drop and what was unaffordable in the past may now be a possible acquisition.

In both cases, clients or new prospects should be supported in taking a hard look at the downside risks as well as the perceived benefits.

Initially, we should keep a weather eye open. In whatever circumstances clients seek to move to pastures new let us make sure that we act for them in this regard.

Source: New feed