Looking back, looking forward
Paul Graham reviews 2020 and considers what is to come next year.
An unexpected shock to the start of the new decade, the pandemic outbreak has forced many businesses to close, leading to an unprecedented disruption of commerce in most industry sectors. While some businesses are struggling, some are thriving, particularly those related to healthcare. However, the dental market hasn’t gone unscathed – far from it. The spread of Covid-19 and the actions to contain it have had a dramatic impact on dental businesses throughout the UK, especially during the first phase of lockdown when doors were closed.
During the peak of lockdown, Christie & Co reported a significant slowdown of buyer activity and viewings, and practice visits stopped. For banks, the pandemic changed everything. Credit teams were fully deployed supporting existing customers and processing CBILS loans, which meant new lending became secondary. As a result, deal transactions were largely put on hold until a degree of certainty returned.