It is now very clear to all of us in business and in any walk of life that we are in a phase of life that we could never have envisaged two weeks ago. It is uncharted territory for all of us regardless of our age or role in life.
The consequences of Covid-19 for business in Cork and Ireland is catastrophic to say the least. The temporary lay offs that we are seeing in so many industries from bars to salons and so many other businesses is heartbreaking for everyone and yet is unavoidable. It is imperative that we do everything to stop this attack on society in its tracks and everyone is in this together and therefore the entire community is going to feel the effects of this, but must act as one in supporting each other and our nation.
However, we must now also plan for the resumption of business and employment, whenever that will be. If March 29th is the date or if a further extension will be necessary, we must have strategies in place to deal with the issues that will occur as a consequence of this closed period. While some institutations of state have indicated their willingness to be lenient with their customers, we will need much more than what is already being proposed and the following are just some initial suggestions on how Cork could support its businesses in the time ahead –
* Establish a dedicated Business Task Force for Cork
* Relax credit rules from all financial institutions for Cork businesses
* Revenue to offer more leniancy and stage payment plans without interest
* Cork City Council and Cork County Council to offer moratoriums on rates
* Government to assess a €10bn loan fund for Irish business administered through the SBCI
This is a pause and only a pause and everyone of us in business must believe this. In times past and in times of crisis, our parents and grandparents stepped up and gave their all. Now its our turn to stand together as a nation and do what we need to do to stop this virus from getting any more of a foothold in our community.
Michael Mulcahy
Editor
