Business

Business rebirth is always possible – with the right help

The online fashion retailer Boohoo is buying Debenhams without its stores and staff, confirming the demise of the high street. Airlines face quarantine rules that could kill international travel for many months ahead, while the cross–Channel Eurostar rail service cries out for state rescue. The travel and hospitality sectors, alongside what’s left of bricks-and–mortar retail, watch their survival chances evaporating. Amid unremitting economic mayhem, new milestones are easily taken for gravestones. But here’s an optimistic parable from half a century ago. The bankruptcy of Rolls-Royce on 4 February 1971, crippled by a contract to supply newly developed RB211 jet engines for the US-built Lockheed TriStar aircraft, was a traumatic episode

My stamp duty solution for the Chancellor

On the Wednesday in early July when Rishi Sunak announced a temporary increase from £125,000 to £500,000 in the stamp duty threshold for house purchases, a record 8.5 million people visited the Rightmove property website and I’m pretty sure I was one of them. I continued visiting it weekly: it became a lockdown obsession, alongside French television thrillers, until last month I finally spotted a London flat I wanted to buy. Now, like thousands of others, I’m pushing to complete before 31 March, when the stamp duty holiday — a £15,000 saving for me but the equivalent of a £3.9 billion annual giveaway for the Treasury — is due to

Will video-calling kill bureaucracy?

Having grown up in a family business, my earliest exposure to corporate life was often baffling. I remember the first time I presented some work in a client’s office 30 years ago. He suggested some small edits, and asked that they be enacted before he presented the work to his superior, who was called Dave. ‘I’ve got a window in Dave’s diary next Wednesday to present the work on up to him, so I’d like to have the changes made by then.’ Fair enough, I thought. Perhaps Dave was flying in from Chicago. Or maybe Dave was a highly elusive figure who only appeared in the building on Wednesdays during

Save me from the cult of instant intimacy

The other day I made a couple of calls to a bank about a loan. After the usual jumping over hoops to get to talk to a human being — the failure of voice-activated systems to understand a word I say, even when it’s the word ‘loan’, is particularly wounding — I got through to a young man who passed me on to a young woman. In both cases the answer to my actual query was no; they ended the call with ‘Have a good one’ and ‘You take care now’. To which all you can say, a bit lamely, is: ‘You too!’ Whenever someone tells me to have a

Covid has become the go-to excuse for shoddy service

When we were hit by Britain’s biggest crisis since the war, some people behaved like heroes, laying their lives down to fight coronavirus. Others made their excuses, put their feet up and had a good long six-month snooze. My favourite Covid excuse came from Eurostar, which declared in August that, ‘As a result of coronavirus, we are only able to offer wifi in our Standard Premier and Business Premier carriages’. Wireless broadband was duly disabled in its standard-class coaches — until, besieged by complaints, the company conducted a full reverse–ferret operation and turned the wifi back on. Again and again since the virus struck, companies and institutions, big and small,

Can cinemas survive a year of Covid restrictions?

Cineworld is to close its 128 cinemas – saying that the Covid restrictions have made its business “unviable”. It’s terrible to see that word applied to the cinema industry – and even worse to think of the 5,500 jobs this will impact. But the truth is that many businesses can’t survive what will be a year’s worth of restrictions – based on PM’s timeline where he’s talking about some kind of scientific breakthrough by Easter. The final straw for Cineworld was the delay of the new 007 film No Time to Die, now due out next April on the logic that this would maximise takings.  But how many cinemas will still be around then to show this