COVID-19: Short-term action planning for the vehicle leasing and rental sectors

Motor

Potential disruptive impact on the Leasing and Rental Sector and the immediate need for proactive Business Continuity planning

We are unfortunately experiencing very significant disruption now in both our private and business lives as a result of the outbreak of the Coronavirus or COVID-19.

Over the weekend just past we have seen a number of developments regarding both the spread of the virus and the UK and other countries governments responses and from this it is becoming very clear that this is going to have a significant, albeit hopefully short term, disruptive impact on businesses in most sectors, including the Leasing and Rental Sector.

Key guidance for the Leasing and Rental Sector in preparing for tough times ahead

This expected market downturn at this crucial time of the year for the sector could quickly create a liquidity and funding crisis. There are a number of crucial pinch points for businesses where very large tax and other payments are required to be made in the next couple of months and being proactive ahead of any downturn is crucial. The potential financial support is there for UK businesses as the note explains. It is very important to identify whether this might be required and to make plans to realise this.

THIS PAPER COVERS THE FOLLOWING:

  1. The key short term action planning areas for the sector to focus upon;
  2. How our MHA Motor Advisory team can support you in successfully carrying out these actions; and
  3. Ways in which this support can be delivered to Leasing and Rental businesses taking into account the likely upcoming physical constraints.

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COVID-19: Short-term action planning for the vehicle leasing and rental sectors



Motor