How Can the Travel Industry Overcome the Impact of COVID?

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StrategyDriven Editorial Perspective Article |Travel Industry|How Can the Travel Industry Overcome the Impact of COVID?One of the hardest hit industries during the coronavirus pandemic has been travel and tourism. Whether it’s regularly for business or to get away on a summer holiday, we’ve all been unable to venture to where we need or want to as a result of major travel restrictions.
Many of the large corporations have been hit hard, with British Airways announcing they will be cutting up to 12,000 jobs, EasyJet around 4,500 and Virgin Atlantic 3,000, these businesses will need to put plans in place as a matter of urgency to ensure the continuation of their operations.

A major impact faced by all

It’s not only flights leaving the country that have been affected – inbound travel has also seen a huge blow. Speaking to the Digital, Culture, Media and Sport select committee, Patricia Yates, Chief Executive Officer of VisitBritain commented “So for inbound, I mean we were looking at the beginning of this year at about £26.6bn coming from inbound tourism, we reckon a £15bn drop on that.”

So far the industry has lot the benefit of the two bank holidays in May and a lot of the school half term periods as well. With the hopes of an additional bank holiday in October, the industry will be keeping its fingers firmly crossed that some of the restrictions have been lifted, or at least some further guidance in place.

What are the challenges that travel businesses have faced?

Aside from the obvious restrictions that were implemented during the lockdown period, many businesses are facing the reality that people may be too scared or anxious to travel just yet. Organisations now face an ever growing challenge of convincing people that it’s socially responsible to travel and enjoy a holiday once again, and that where they are visiting has put all the necessary precautions and procedures in place.

Hotels, campsites and other hospitality facilities also have a mountain to climb. With new rules and regulations to help protect their guests, many have had to spend large amounts of money to ensure they are Covid compliant. Because of these great expenses, some are facing crippling debts and the possibility of redundancies to ensure they can stay afloat.

What are the best solutions for the travel industry?

The World Travel and Tourism Council reported that up to 50 million travel and tourism jobs are at risk around the world as a result of the pandemic. Although we are in uncharted territory, there are a number of solutions businesses could introduce to help them weather the storm.

One of the major but potentially very beneficial options is for businesses to restructure. This will help them to become more streamline, thus freeing up money to help them keep the lights on so to speak. Specialist organisations such as RSM Global, who have key experience in situations like this are on hand to help businesses plan and implement their long-term survival strategy.

No matter what the future holds, we all need to adapt to survive if we’re to overcome what the coronavirus has thrown at us.

Hong Kong: How can I successfully apply for UK citizenship?

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StrategyDriven Practices for Professionals Article |Apply for UK Citizenship|Hong Kong: How can I successfully apply for UK citizenship?China’s recent security legislation for Hong Kong, aimed at reducing the former British colony’s autonomy and bringing it more under its control, has brought widespread condemnation from the US, Europe and Australia, as well as human rights groups.

The UK prime minister, Boris Johnson called it “a clear and serious breach” of the 1985 Sino-British joint declaration, which was designed to protect certain aspects of Hong Kong’s autonomy and declared his intention for up to 3 million Hong Kongers to apply for UK residency.

Under the government’s plans, all British nationals overseas (BN(O)) and their dependants will be able to live and work in the UK for five years, and apply for citizenship after a further year. Here we look at the legislation and how it will affect you if you wish to apply for UK citizenship.

Why is the new security law seen as a concern?

Protests have been raging on the streets of Hong Kong for over a year now, initially against China’s legal bid to allow criminal suspects to be extradited to China. The bill was withdrawn in September, but violent clashes between police and protestors made the news all over the world.

However, this new security law, which came into effect on 30 June, includes a whole raft of policies that many believe to be the end of freedom of speech and the right to protest. It includes Beijing establishing a security office in Hong Kong, with its own personnel which will not fall under Hong Kongese jurisdiction, and powers to send Hong Kong cases to be tried in mainland China. Some of these trials may be held behind closed doors.

Before it was passed, Boris Johnson stated that the legislation “would be in direct conflict with [China’s] obligations under the joint declaration, a legally binding treaty registered with the United Nations.” Now the legislation has been passed, he is upholding his promise to allow any British national (overseas) passport holders to live and work in the UK for a renewable period of 12 months.

What are British nationals (overseas)?

Before 1 July 1997, when Britain handed over sovereignty of Hong Kong back to China, British overseas territories citizens by connection with Hong Kong, of which there were around 2.5 million, were able to apply for BN(O) citizenship.

This granted them certain rights, such as holding a British passport and visa-free access to the UK for six months. BN(O)s, however, are still subject to immigration control and don’t currently have the right to live, work, take up long-term study or have access to free non-urgent healthcare.

How do I apply?

There are around 350,000 BN (O) passport holders in Hong Kong and it’s estimated that another 2.5 million BN(O)s without a passport. All with be eligible to apply for citizenship.

The UK is creating a new visa for BN(O)s and their close family members. You will be able to apply from January 2021, whether you currently live in or outside the UK.

There are certain criteria you must meet to be eligible for the visa route, including that you have BN(O) status and are able to accommodate and support yourself financially for at least six months.

Once in the UK, you’ll be able to live, work or study for 30 months, which can be further extended by another 30 months. You will not be eligible for social welfare benefits, however.

Will I be able to relocate my business?

One of the main criteria for applying for the visa is that you will be able to support yourself. If you already have a successful business in Hong Kong, you may be thinking about the possibility of transferring it to the UK.

Immigration can be a complicated process, and if you’re wanting to relocate your business as well, you could consider consulting experienced immigration lawyers who can guide you through it step by step.

How many people will choose to apply the Hong Kong BN(O) Visa is yet to be seen, but it’s certainly a new chapter in the Hong Kong-UK relationship.

Five Tips To Enable Your Start-Up For Long-Term Success

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StrategyDriven Starting Your Business Article |New Start-up|Five Tips To Enable Your Start-Up For Long-Term SuccessStarting a new business is very challenging. Just as you begin to make progress, a fresh new challenge awaits you around the corner. Getting caught up in the difficulties of the short-term running of a business can be detrimental to long-term success.

Many start-up owners don’t realize the task that faces them when establishing a business. In most cases, the reasons for starting a venture are due to personal circumstances and work preferences. Too often, owners or management are short-sighted, leading to quick failure. 90% of new start-ups fail, and less than half of business last longer than five years.

Your start-up doesn’t have to contribute to the above statistics. By taking some strategic actions in the early stages, you can give your company a strong chance at survival. If you’ve launched a new business and are eager for success, here are five tips to enable your start-up for prosperity in the long-term.

1.Create a business plan and stick to it

Business plans are key to long term success, particularly for start-ups. In fact, research has shown that companies that operated using a business plan were almost twice as likely to experience growth and success than those that didn’t.

A business plan should be the first course of action. It outlines the goals and strategies of the start-up. It also includes detailed market information, competitor analysis, logistics, operations, and financial projections.

Your business plan should be referred to when making key decisions, and it must be adapted if circumstances change.

2. Source funding

Depending on the type of business that you’re running, you may need significant revenue to get it off the ground. If you have employees, they need to be paid regularly, meaning healthy cash-flow is a necessity. While you may have the financial means to operate on a monthly basis, don’t neglect the importance of cash flow. 82% of businesses fail due to cash flow problems.

3. Professional financial advice

Calculating financial projections, dissecting accounts, and managing cash flow can become extremely overwhelming very quickly. Many start-up owners don’t have experience in this field, making the financial side of the business even more stressful.

Considering U.S. banking history, you should seriously consider hiring a professional financial advisor to guide you through important financial processes. This can save you in the long-term and can prevent unnecessary losses due to inexperience.

4. Establish a clear target market

Having a clear idea of who your customers are is an absolute must for start-ups. It’s essential to know your audience, their interests, and what they seek in a product or service. Marketing plans and strategies should be customer-focused and targeted ads should be a key feature.

Never settle when it comes to your customer base. Always seek to expand through lead generation and various marketing techniques.

5. Be data-driven

Through website analysis and social media insights, a modern business generates a lot of data. This data should be thoroughly analyzed to gain a deeper understanding of customers and the market.

Look to analytics to guide your start-up with executive decision making. Analyzing the right information can lead to significant long term success.

Advantages of VoIP for Small Businesses

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StrategyDriven Managing Your Business Article | Advantages of VoIP for Small BusinessesYou want to do everything you can to realize and surpass your small business’s potential. Have you thought about implementing a Voice over Internet Protocol phone system? Don’t think this communication is only for larger businesses. Understand how VoIP technology is ideal for companies of every size in practically every industry.

Functionality

You may not realize that you can do more with VoIP than make phone calls. For instance, you can use the technology for teleconferencing, instant messaging email faxing, and video conferencing. With current events impacting business operations in unprecedented ways, having a reliable way to communicate with employees and customers from a distance is more vital than ever. When email, instant, or text messaging just aren’t enough, it can be a comfort to know that you can video chat with your team through a reliable VoIP service. Another great feature of VoIP technology is that you can have faxes and emails sent directly to your email, which can save you a lot of time.

Superior Call Quality

An essential aspect of understanding how to use VoIP it’s worth noting how great the call quality is on VoIP systems. Even the call quality on some smartphones is questionable at times. With VoIP, the technology has advanced to such a degree that it’s surpassed traditional landline call quality.

Security

Besides securing your business’s physical location, your business site, and your customer’s and employee’s sensitive data, have you taken steps to secure your phone calls? If not, you risk someone accessing your phone calls and other data. With VoIP, you can rest easy knowing that your phone calls and data are encrypted with standard protocols.

Portability

A VoIP system isn’t contained in a single device. Instead, VoIP systems depend on an internet connection. The way the technology works is you can use several devices to receive and make phone calls. This means you do not always have to be at the office to handle business. It also means you can easily transfer calls to your team without the caller needing to use a different number. Also, VoIP technology gives you the option of setting your status so people know when you’re available for phone calls, like your status on an instant messaging service.

Call Recording

Have you ever gotten off a phone call and realized that you forgot an essential piece of information or detail? Rather than calling the other person back to see if he or she recalls the detail, which is not always a guarantee, wouldn’t it be better if you could record future conversations so you do not have to worry about that happening again? VoIP’s call recording technology allows you to play back phone conversations, ensuring that you never have to guess a detail or piece of information. Additional advantages of this particular feature including accessing call log data, allowing you to predict when a person is likely to call in the future and how long she or he is likely to keep you on the phone. This lets you schedule your time more efficiently.

Improved Productivity

How many times have you missed a phone call and called the other person back only to have them not answer the phone for one reason or another? With VoIP, you can set it so that your call goes through different devices before going to voicemail. This feature saves everyone time and better ensures the other person answers your call the first time.

Do you feel your small business could benefit from a quality VoIP system? Try one out for yourself to see how you, your employees, and your customers like it.

How the Right Office Design Strategy Can Improve Productivity

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StrategyDriven Managing Your People Article |Productivity|How the Right Office Design Strategy Can Improve ProductivityBusinesses don’t need hard workers. Someone who pushes themselves behind their limit and struggles to make it through each day on time and pulls overtime to reach deadlines is not someone you want on your team. Not because their dedication isn’t proven every day, but because they are not caring for their health. A productive employee is one that works better, faster, and often finds it far easier to get through a workday than someone who grinds through.

Their outlook is vastly different. Someone who works hard but doesn’t seem to actually get any more work done is someone on the verge of a breakdown. You are not always responsible for this downward spiral, but you can do a lot to help your employees avoid it.

There is an old saying that you should work smarter, not harder. The right office design can help employees be smarter about how they work, just by being the supportive element they need throughout their workday.

Natural Light Boosts Energy Levels

Our bodies wake up with the day. This is because we have evolved to respond to blue-white light. Our circadian rhythms are set in response to daylight hours, and yes, the blue-white light from the phone and other electronic screens messes with this rhythm. There is a reason why there is now a night mode on devices that warms the color of the screen after sunset.

In-office environments, you can use our relationship with this blue-white light to our advantage. Big windows and mirrors can bounce more light throughout the space, yes, but the right lights can also play a significant role. There are therapy lights you can install on every desk that will help your employees be healthier and more productive during the dark winter months.

Ergonomic Furniture Supports Spinal Health

Spinal health plays a huge role in productivity. A misaligned spine or a spine that has pinched a nerve can cause headaches and even restrict blood flow to the brain, and that’s on top of back and neck pain that is common with spinal conditions. Sitting at a desk all day can ruin a person’s back.
You can help and, in turn, improve your employee’s productivity just by investing in the best office furniture Aurora, IL, has to offer. New or used, the office furniture should be designed for skeletal health and support.

Art and Design Are Great for Productivity

Art does not detract from a day’s work. In fact, it is proven to improve productivity. Studies have shown that offices with art enjoy a productivity boost of 17% and that employees often work 15% faster.

To put this into a monetary perspective, if your payroll each year was $100,000, then the small bump in productivity would increase their value by $15,000. Art makes a space more inviting, builds on company culture, and is proven to boost the speed and productivity of your employees naturally.

The Right Break Room Supports Health

Ideally, every one of your employees will bring a healthy lunch to work with them. It will save them money, improve their cognitive function, and help support a healthy lifestyle. You can encourage this by making it easy for them to store and prepare their food during lunchtime.