CV19 Budget 2020

You can watch the video or download the boring pdf below.

Hello and welcome. This is Gordon. And this is my 2020 budget review. This is coming to you on March the 12th, and we had the chancellor on the 11th of March, sunny up to give his budget to meet challenging times, and goodness me, are they challenging? At the moment. And I want to talk today to business owners, typically, owner managed businesses, businesses with turnovers under three, four, 5 million because those are typically my clients.

Everyone else can get their information from different or different places. To me, I'm going to comment on Charles's. They probably already know some of this, but I want to comment on the changes that have been made and on what's happening in the economy at the moment with Corona virus 19 CD 19 on a colon.

And so, yesterday Arushi tsunami delivered his first budget. And, you know, we were not only we're leaving the European union, you know, Brexit and stuff is all taken up huge amounts of our time and attention. But,   we have now got the coronavirus, the CV 19 to cope with. And in business we want, I don't want to overreact to CV 19 one would be mad not to consider the fact that it's going to have on the economy, because as business owners, we're very positive minded right away.

Gung ho, we want to get things done. We want to keep doing things. But unfortunately,   the majority of the population. Onto that mind. They all notice positive minded and as, as determined as we all cause we know we live by the power of our, of our mindset. We live by the, the seat of our, you know, by the risks we take in business.

And so, you know, we all about getting things done, making things happen. But unfortunately, if no one is going out and everyone's buying toilet paper. Why they're buying that much toilet paper. I mean, the chances are it's actually gonna make it more difficult because if a lot of people don't have toilet paper, that's, that's not going to be helpful to the health of the nation, I suspect anyway.

Enough toilet paper is delivered as versus a budget, and he's produced a 30 billion pounds stimulus package to support the economy now. Yeah. Having had austerity for so many years. They're all countries like Japan who have actually put money into the economy to avoid austerity, to avoid going into recession.

We unfortunately didn't. Now, you know, you could argue both ways for it, and clearly the labor government argues, or the labor government one would suggest the labor party would suggest. It's one thing the conservative thought. He would obviously consider it to be something else. And part of the problem is party politics doesn't help businesses.

All it is is just rhetoric. No one explains anything properly. It is all just chucking fingers out there, chucking the melons out there. And so now we've got this 30 billion stimulus, which is supposed to make us all feel good. Although I think we're going to need it because. The businesses that are affected by CV 19.

There is no hiding from it. Some businesses are going to be hit hard airlines. We already know that. Like jet two is just dumb and others may follow hotels, ball's restaurants. Oh, empty it. And they've been, um, and so you know that if you're in the industries that support or in the industries that are affected by people going out.

Then of course you're going to be affected. And of course, ultimately everyone is affected because it affects the economy as a whole. Other opportunities always. There's always opportunities where there is massive change and what you notice is that when there is items like this, when there is, when there are challenges like this.

One of the things that happen very quickly in the populace as a whole is fear sets in. Panic begins to set in. And when we panic,   as a human, we begin to take it,   actions that sometimes are irrational. The brain,   you know, when I studied,   sociology and psychology some years ago now. The brain is not a mechanism to make you happy.

It's a mechanism for survival. So if you feel that somebody is going to challenge your tool, it happens to kind of make you wonder, your brain's going to say by loads and loads of toilet roll and a, um, you know, there's nothing logic can stand in the way of that. The emotion is too strong. And,   and so we gotta just bear that in mind.

So there's 30 billion stimulus. You know, one would have been happy with that, except that sometimes the money goes in the wrong place and it doesn't really filter down to own and manage businesses, small businesses, it doesn't really help them very much.   but nevertheless, he's offered to give the NHS whatever X resources are needed, and goodness knows it's going to need some resources if this goes the way they planning.

But in the meantime, you know. Let's keep a lid on this.   if you're listening to this, just remember that this virus can be contained by washing your hands for 20 minutes. It is not the black play, right? But it is serious. I'm not saying it's not serious, but it is contagious. But if you just wash our hands and.

Just take some precautions. We can limit the effect and the spread of this virus and we should take precautions. We should wash our hands regularly. We should avoid touching. You know, when I walk upstairs on in public areas for two reasons, I don't touch the railings. One is because I think it's better exercise.

And I look for exercise in weird places. You know, if I'm,   looking at going to the shops. I'd rather awoke then take the call. Because to me, I look for an is exercise. If I'm having to do gardening, I don't enjoy gardening very much, but if I consider it to be exercise, I'm happier doing gardening and bending and stretching and all that stuff happens as a part of that garden routine.

So let's look at, let's look at different ways of handling the situation. Let's look at how we can change. The way we look at this to keep a big common, and one of the things, if you, if you followed my me on social media. You'll hear one of my, some of my 10 points on, on keeping a lid, on, keeping, um, mentally,   strong with this CV19, panic and fear going around.

  and one of the things I talk about is. Being in rapid and constant communication with your clients. If you're in the, in the arena where clients could be concerned. So if people aren't going to your restaurant is because they're not convinced that you've taken measures to keep them safe in your restaurant.

So tell them on social media, tell them how you're putting the, you know, what you're taking extra precautions and wash the tables and the floors and the handles. You have a stricter routine of wiping down handles with your, um. With your, with your wipes and stuff and door handles and toilet handles and keeping everything nice and plain because, you know, maybe putting a bit of extra space between the tables because that's going to help them feel safer and coming to your environment.

Okay. So you just got to be, have common sense already. Another point from my,   from my 10 points. But you know, just look at that and see what's happening. So, so, you know, there is the money going in, but whether it'll actually get to us small businesses, you know, we're in a tough place. We're right in the middle of the big business, get a big help.

The, the tiniest people may get some help that they're also not ready well looked after. But in the middle ground, you know, we got to fend for ourselves, especially as, as a small business owner. So the only good news was that the interest rates had been re reduced 2.25 of one percentage point. Which means, you know, if you, like many of my clients have got the property portfolios like I have, you know, that may help us as interest rates come down to might help us with cashflow.

But if you remember, other measures have been put in place. Stops interest being a deductible expense on, on a residential property, let, so that isn't helping us very much. So this may help go some way to helping that pain. And there is certainly some pain from that and cash flow terms.   there's going to be some statuary, sick pay.

So if you've got employees and they've got to to self isolate, you know, choose your time wisely and if they need to, if they feel they need to, um,   self isolate, please make sure you claim the relevant two weeks deduction for them because they will be able to get such a sick pay.   my, my son was recently,   given a laptop, a tablet with a keyboard at work.

Because even though he's still going to work every day, they're saying, look, we don't know at what point we'll have to close the office down. If you have a laptop, you'll be able to log into the servers. You'll be able to do your work online and keep the business running. That is so sensible. You know?

What plans have you got? It's time to think, thinking hats on. It is time to think about what plans you need in place. Do you need your employees to be really self-reliant? Like, like my, my son's organization, I've thought it through. Now for businesses like, Oh, so you know, we've embraced the virtual economy.

We ha we have most of our meetings online.   and you know, for us, we hardly miss a step, but many businesses have no thought that through, they have not embraced the,   the, the economy of the economy of scale, scale, and scalability and operation. By. Going more virtual. It helps with rates and rents and heating and the whole range of things.

Plus, of course,   team members have much happier if they could work in their own environment.   and it saves a huge amount of travel time that it in turn, say it helps the environment. There are also many things that if you haven't yet thought about moving virtually more, if not completely like we have, then it's time to get a plan in place.

It's time to put your thinking caps on and get a plan in place. So the next thing I want to talk about is like business rates. If you're in a business, if you're in a very small business, you were exempt from rates, business rates anyway for a couple of years now. But if you're in the mid range and you're ready to build valleys on the 51,000 pounds.

Then there's going to be some, a freezing of that. And so,   there'll be a holiday or for a year, and maybe that may be extended. The, the downside of, um, of this economy, what's happening generally is that,   our predictions to grow was down to 1.1% this year. Now that is before, before we factored in the effect of CV 19.

So you've already seen factories closing, Shawna, you've seen whole areas of Italy being quarantined. You haven't seen much elsewhere, but you know it's coming and it is going to have an impact on, on us. Um. In the UK, in Europe, in the U S there's no, there's no question about it. It's, it's coming and it's coming slow, but it's coming strong and it's unlikely that you know, the scientists, as hard as they are working, as clever as they are, they'll be able to get the antivirus serums in place before it takes a big toll.

Now, you remember the government said up to 20% of the workforce may be,   ill at any point in time. Because of CV. Now you, you, like I said, think about how you're going to cope with that, right? If,   how are you going to get your work done? Just bear that in mind. Keep that in mind because it is so important that you stay in business so that if you, if you read my other,   tips on surviving CV 19,   you know, there'll be some more information in there on how to do that.

On a slightly lighter note, some beers and wines have,   have been,   been frozen. And,   I'm, I'm quite glad about that. I, I, you know, on a mind to going up and, and if the tax goes into the right place, but of course, tobacco GD has risen by 2% above inflation. Now, you know, we had some workmen here a couple of months back.

And one of the Workman w were not very easy to get to about public transport, and he had forgotten to buy some cigarettes. Now normally I refuse to buy cigarettes, but this guy was a really good worker and a, I could tell he was apt. You'd asked me four times if I could go to the shop and get him some cigarettes.

So Amy and I, and I agreed and I went to the shelf and it wasn't. Cheap cigarettes were tenor, a 10 or a packet I gave up when it was a pound of packet. I found that very expensive, but you know, but it's going up even more so, you know, if you are a smoker, now's a good time to smoke. If you know a little bit about me.

  one of the things I used to do was hitting the therapy for helping people stop smoking. I helped over 600 people stop smoking. So if you begin to want to stop smoking Bureau smoking, you want to stop smoking, consider hypnotherapy. Not with me. I don't do that anymore. There's a big market out there now.

When I started doing it and very few people doing it, the therapy to stop smoking, we had a brilliant track record and gave great service. Like you would expect from me. And I stopped doing it when mum, more and more people came to the market to service the clients I was servicing. I got back into business.

  you know, one of the reasons I did that is,   ma, my wife passed away from lung cancer and I didn't want other, other people to suffer in the same way we did as a family. And she did and the kids did losing their mum. And so,   you know, it's one of the things I did in know, now I do other things to help,   to help that help families.

And one of the things I do is help businesses improve their,   their,   input, improve their income, improve their profitability, improve the lifestyles of the business owners and the teams that work for them and improve the communities they work in. Yeah. So that it can contribute more. We have this great contribution go B one G one where we contribute education to people who could use, and I'm a big believer in education, and if it wasn't for my success, I wouldn't be able to help other businesses do as well as idea.

I wouldn't help other business be able to help other businesses have extra income or wouldn't be able to help other businesses earn more money and work less hard. I wouldn't be able to help other businesses contribute more to their good causes that they feel passionately about. So it is something that,   I've built my skill on and I feel I'm putting back to help other, other families who may have other challenges.

They may not have the same challenges I had in my family had, but you never know where the challenges are coming from.  and you know, if you have spare cash, if he has spare resource, if he has spare time, then you can help in those areas, whether it's family or friends or just this community at large. Fuel duty is also a staying,   staying frozen.

And importantly, you don't, if you saw my blog on Tesla,   there, you know, increasing the speed of rollout of rapid charging hubs for electric cars. So that's a, that's going to help because they want to increase the number of people buying electric cars. But if you've got nowhere to charge electric cars, it does put us a ceiling on that.

  one of the downsides, um, we,   we had,   yesterday was that entrepreneur's relief is going to be reduced from 10 million to 1 million.   we predicted that if you, if you listen to my pre-budget,   alerts, you probably predicted, you'd probably see me, excuse me, one second gigabit for that. She knows, you probably heard me predict that they were going to reduce entrepreneur's relief.

There's not much you could do about that. You know, you couldn't accelerate a sale by . Two weeks to get to make use of your 10 million. We've got a couple of clients at the moment of going through entrepreneur's relief. I think,   they, they sneak into just about the million pound Mark. And so that's going to be good for them.

Um, the good news is that,   the, the chances of bullishing tampon tax and, and the tax on sanitary,   products from,   2021 John Riggi thousand and 21, but also,   and that's already good. You know, that's a long time coming that that is just mad that it's, uh. But it's still, you know, it was still around after so, so many years of being aware that it's a real stupid idea.

In fact, it should be free. Right. And then the. For people who need it, it should be free. And,   I'm a, I'm a big,   supporter of that, of that idea.   the other thing that he's done is,   from, from Lake this year is going to scrap a VAT on digital publications. The way I do my eBooks and my magazines, my,   courses.

Well, hopefully we can get zero VAT on those. So keep, keep your eyes failed on the detail of the legislation.   keep your old year to the ground and all on our,   pub costs and, and video costs. And,   we'll let you know.   when, when we know more about exactly how that might play out, if you, if you'd like your audio books and,   and podcasts and buying eBooks and stuff.

  the other thing was,   they're gonna spend 5 billion on new roads and railways and stuff on the basis that we're supposed to be green of building new roads is probably not necessarily good. Although when you see the millions of cars stuck in traffic jams. And how much more pollution they put into the atmosphere of being in a gem on an a.

It's a, it's a difficult one, isn't it? And so, we gotta keep that in mind. Um, you know, people do need to get around. I'm off next week,   and sorry, by the way, they're going to put some more money into broadband. I'm, I'm away to a cottage in the, um, big district next week. And I'm hoping there's going to be broadband so I can do some more videos and do some Facebook lives and stuff, but I don't know what they're going to hopefully do is move more of the broadband into rural areas.

So that they can be, people can even in those areas, can work from home. When you come to things like CV19, so important, right? I think we should call this a 20, 20 CD, but CV19 budget done yet.   so maybe we'll get another budget later in the ed, depending on how CV19 plays out, they may be new things,   introduced but this is,   excuse me. This is the budget from the government that says they want to get things done. Well, we shall see how much they get done.   the,   the, the various,   things, I mean the con, the Federation, small business, this cell says there's actually a pro small business because of the stamp duty in the rates and stuff.

So, you know, let's see. Let's see if we can help small businesses survive. If you're a small business and you're suffering tough times, the last, um, expense you should cut is your marketing budget. And if you get a business advice, don't cut your business advice budget now would say that. But if you, Oh, struggling hard, working hard in this CV 19 arena,   it's not going to help by working harder.

Right? You've got to market better. You got to change how you're doing things. You've got to change your business model. You gotta look at where the money is going. If they're running out of toilet paper, somebody is producing that toilet paper. Somebody who's delivering meant toilet paper. How can you get into that?

You know, all the, the cleansing wipes are disappeared. The cleansing solutions disappeared. Somebody who's producing and selling these. What can you do to support those businesses to make up for the lack of trade in your business except look at those things and um, and take action, right? There's never been there.

There's never been a better time to be a small business. However, this is a real tough time economically. And so I, I have a feeling that lots of businesses are going to fold.   just like jet too did, I mean, that's a big business that voted. It was probably insecure in the first place before CV 19. Excuse me.

And,   I suspect more will fold because many businesses have not got the reserves they need to survive,     prolonged period. You know, if, if income stopped. Two months, most people would be completely stuck. Most businesses would be completely stuck. And that in itself is a, is a coal to get more business advice, get more sensible marketing in place, get more S, you know, get your numb, understand your numbers.

Cause if you don't understand your numbers when things are going bad. You are almost asking for trouble. I don't mean that in a bad way, but please hear me in in a, as a supporter of small businesses, you, the numbers tell you what's going on in your business and tell you, it tells you what's happening.

That's good. And it tells you what's happening. That's bad. So please look at the numbers. What's happening to your numbers? Are they, where are they suffering? What can you do? What can you do? And you know, as one of the other tips on my, on my CV 19 survival guide is in a B, if you have to cut your team members, cut them fast and cut them big because,   you know, nobody wants, when you start cutting people, it's horrible.

Absolutely horrible for everyone. More for the people who are losing the job. But really bad for the team that they, cause they have no job security really bad for you because you feel sick to the stomach of, I need to let people go. Nobody wants it. But if you do one person today, one person next week, and one person, you know that is was cause you, you're taking the hit again and again and again, it's hurting you again and again.

It's hurting them. It's hurting your team again. Again, no hut your results. So you know, do it. If you have to do it, see if they can see if you can do it on a, on a, on a, um. People retiring or people leaving maybe don't replace for a while, waiting to see what happens. Look if, just bear that in mind when you're, when you are looking at your survival guides, when you're thinking about it and creating your 90 day plan.

You know, I'm a massive proponent for pro pro, pro, pro, pro proponents of my 90 day plans, a three month plan to make sure that you know really well what you're going to do. For 90 days and it's never been more important now to have a 90 day plan. And so,   that is where I'm going to leave it as a call to action for you.

Get a 90 day plan. If you'd like a free coaching call, a strategy call with me. If you haven't had one already, if you have had one, then you know you've had one. We're going to do one free.   for a business owner, if you haven't had a, a free 45 minutes,   profit propeller strategy call now is not a bad time to consider doing that.

We're going to do three things on the,   strategy call. We are going to. What are we going to do? We're going to be clear on where you're going given that CV 19 is coming and it's coming hauled. We're going to look at way you will, what challenges you face with CV  plus anything else that's underlying before that, and then we're going to look at creating a plan and a path to get you started on your, towards your 90 day plan.

Now, if you need help executing that plan and supporting you through that plan, we can do that in another time. But that first. The 45 minutes is going to be support you through that strategic.   aligns the strategic Cole to make sure that you are as Bulletproof as possible to get through the next 90 days and then through the next nine months and then into  gang strong into 2021, 2020 is going to be tough for many, many, many businesses.

Hopefully you're one of the ones in, if you're in the caning business, you should be absolutely. On cloud nine. It should be busy as anything you'll, you should be looking at. Your pricing should be located delivery.   but if you're not in one of those chosen, chosen, lucky, lucky, unlucky fields, you know, we feel for the people that are ill, we feel that the people that are, that are, that are losing family members, really horrible, horrible.

I know what it's like to lose family members. And it is, it is absolutely the most heartbreaking thing. However, in business. You know, you have more responsibilities as well. You've got to look after you and your family. You're going to look at you after your team and their family is going to go off to the communities you're in because those are the communities you serve.

If you're in trouble, you've got to give the best service possible. You know, I am absolutely superbly,   passionate about giving amazing service, and there's never been a better time to change your mindset. If you're giving just the minimum. Because you can't afford to, you can't afford not to give great service.

Anyway. Look, I have gone on. It's supposed to be budget 2020 it ended up to be the CV 19 budget.   but,   I've also talked about other things and I've also given you an opportunity to get some,   help get a third party to look at where you are and just give you a bit of support.   if you want a profit propeller strategy session PPSS just send a message to me, email me or something with PPSS, I'll know what to do.

I'll contact you and give you a link to grace,   to create an appointments for us to talk for that 45 minutes. It's going to be false paced. Solutions-based you know, no interruptions. View all for me and you're going to love it. All right. This is going to Silva wishing you well. Book I Cole, if you also minded, if you're not, I wish you every success and   I look forward to speaking to you another time.

Okay, goodbye.