Covid-19 virus has had a big impact on everyone, every business and every economy, which is worrying and unsettling. It is comforting to see that all the countries around the World have taken steps to help their people and economies in this uncertain period of time to provide stability and certainty. We will get through this testing time.
Employment and Financial support
Various forms of help are being given by the Government, Local Authorities and banks:
Statutory Sick Pay guidance, Employment and Support Allowance (ESA), Employers can apply for staff to get up to 80% pay if they can’t work, financial help for self-employed. There are Grants for Businesses to Coronavirus Business Interruption Loan Schemes (CBILS) to help with company cash flow. The above links will help to provide in depth information to assist you during this challenging time.
Pensions & Investments
‘Anyone who reads the papers and watches the news knows that the world’s economies are going through a period of uncertainty. It’s natural at these times for some investors to get twitchy, which only serves to make the situation even less predictable.
The truth is that share prices invariably rise and fall, but for the long-term investor, this shouldn’t need to be a primary concern. Historically, long-term performance tends to even things out and there are good reasons to see opportunity.’
This is an opportunity in our opinion to look at investing following advice to achieve potential growth over the longer-term. Buying in at lower unit prices; this could be by a single premium or drip feeding over a period of time as we never know when we reach the bottom of the Market.
‘Stay at Home, Protect the NHS and Save Lives’