You couldn’t have made it up. If anybody had tried to tell you in January this year what was going to happen, you would have thought they had completely lost it!
We are nearly at the end of 2020 and we have been through the mill. Covid 19 has had a severe impact on markets, economies, our health, and our wellbeing. We have not been able to live our lives normally.
Thankfully markets and economies have started to recover. China is in a better place than it was in January. Different sectors thrived, in particular, Technology. With c 75% of Technology businesses in the USA their markets have fared well with indices higher.
In November, with the Biden win and then the really good news on the Pfizer vaccine, markets recovered further. As you know we are now getting vaccinated in the UK in priority-order and we await further good news on the Oxford/Astra Zeneca vaccine.
This Oxford/Astra Zeneca vaccine will make a considerable difference as it’s easier to handle and distribute, and much lower cost. Not only is this good news in the UK, but also globally and for developing and emerging markets.
The only issue outstanding now, which I understand is nearly resolved, is Brexit. It looks like we are on the verge of doing a deal. Hopefully, by the time I relax at home later on, a deal will have been done. This will bring some certainty to the UK and the EU and we can get on with doing business.
How have we changed?
Personally, I think we have learnt a lot from this challenging year. As people and leaders, we now hopefully do a better job, with more of an understanding of the needs of our staff and clients, family and friends. Our culture in the business will have changed as we understand everybody’s needs better.
We now know, more than ever, that we need to work as a team and look after each other. A healthy culture is one that is diverse and inclusive. We need to nurture and grow our people.
In terms of investments, we have seen a significant shift to ESG (Environmental, Social and (corporate) Governance) investing. I think this will continue as Covid 19 has made us reflect on what is important, our health, looking after our environment and dealing with climate change.
The future?
Markets appear to have priced in a good recovery. With the vaccine roll out in the UK, we would expect volatility to continue and the economy to pick up in the second half of 2021. We still have a few headwinds. The end of furlough could see unemployment spike and zombie businesses could close.
To counter this, the pent-up demand of consumers will help, if the vaccine roll out is fast and efficient and people in the UK can return to their normal spending habits and make up for this year.
We also need to see the vaccine roll out globally so our amazing scientists and health care professionals can deal with any further mutation of the virus. Technology and further developments will help too.
I feel positive about the future. It’s been a tough year, but the outlook is brighter. Innovation and science will really help as we work hard to recover economies globally.
Thank you for reading our blogs. Hopefully, they help keep you informed in this fast-changing world we live in. If you have any specific questions, please get in touch.
Merry Christmas and a happy, healthy, and prosperous New Year!
Steve Speed
24/12/2020
Festive opening hours
24/12/2020 close at noon.
Return on 29/12/2020 for standard office hours on both 29/12 and 30/12.
Close at noon on 31/12/2020.
Return to normal working practices on 04/01/2021