As the Coronavirus (COVID-19) pandemic continues to spread there has been a worrying rise in harassment, bullying, and discrimination in the workplace. Initially, this was seen to be race-related - targeting people of Asian origin - but has since spread to include people who expressed symptoms of the virus. Now as large swathes of the global workforce move to a working from home model, employers are faced with a new challenge - that the vector for workplace discrimination will shift in parallel with the main mode of communication. Neta Meidav, co-founder & CEO of Vault Platform, explores this phenomenon below.

Tasked not only with rapidly implementing a company-wide working from home strategy to keep businesses that are still operational up and running, many HR functions are also operationally responsible for mass layoffs all while building a crisis information and communication plan out. Bluntly, HR teams are maxed out and will struggle to field a rising number of queries about the new workplace etiquette.

Law firm Lewis Silkin LLP estimates that around 59% of large multinational enterprises have already put into place a plan to respond to pandemic diseases such as Coronavirus. Typical measures include social distancing and remote working arrangements. The majority (88%) of are managing self-isolation by asking employees to work from home.

It’s difficult to actually get a handle on the number of people whose jobs allow them to work fully remotely, especially with such an unprecedented situation. But cloud security services firm Netskope, which routes corporate traffic for hundreds of thousands of office workers said it estimates that the number of American knowledge workers (white collar desk workers) logging in from home hit a high of 58% on March 19. This is up from an average of 27% over the last six months.

While there may be some anecdotal evidence that the untested shift to an emergency working form model is in fact working, it is early days and there is plenty of research that points to warnings we should all be heeding.

Bluntly, HR teams are maxed out and will struggle to field a rising number of queries about the new workplace etiquette.

A 2017 study by David Maxfield and Joseph Grenny for leadership training consultancy VitalSmarts found that just over half of people who work mostly remotely feel they don’t get treated equally by their colleagues. Now the obvious retort is that ‘we’re all remote workers now,’ so the playing field is levelled. But research suggests the problem is more with the medium than whether workers fall into the ‘in office’ or ‘WFH’ camps.

Some 30% of UK respondents to a survey by Totaljobs in 2018 said they had been victims of workplace discrimination on official corporate messaging platforms, such as Slack, Microsoft Teams, or Google Chat. In the US, a 2019 survey by Monster.com revealed that 39% of respondents had received aggressive messages from colleagues on similar tools.

Cyber-bullying has been well documented for some time and remains as persistent in the corporate workplace as it does in schools and colleges. A recent high-profile case focuses on the departure of the CEO of leading consumer brand Away after an exposé of bullying culture over Slack.

The revelations of Away are an anomaly - most incidents go unreported. The same studies show that 30% of workers in the UK (according to Totaljobs) and 34% in the US (according to Monster.com) who do experience cyberbullying suffer in silence because they are not confident they will be supported by their employer. Lloyds of London was exposed in December last year after their complaint hotlines were proved to be inoperative for 16 months due to unpaid phone bills, and in 2018 the Financial Conduct Authority put senior managers on notice that their futures in the City were at risk if they did not take diversity seriously, while companies faced fines after a 220% increase in interpersonal whistleblowing complaints over the previous 12 months. According to Totaljobs, around 8% find it easier to leave their jobs than to complain and request an investigation into the situation.

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Digital workers are disincentivised from reporting workplace misconduct in the same way as employees that spend all their time in the physical presence of their colleagues. Firstly, the available channels for reporting misconduct are intimidating; and secondly, they don’t feel confident their employer will act on the report.

But the fact remains that employers are legally obliged to protect their workers and that responsibility doesn’t change because they are now out of sight. While ethically, employers should take more care during these uncertain times.

• Remind your employees of your organisation’s discrimination and harassment policies and ensure that these are adapted for a remote-first culture (i.e. how they apply to discrimination across messaging apps) and are easily available.
• Encourage a speak up culture: stigmatising issues (such as with race-related discrimination due to COVID-19) can be challenging for employees to report. Without effective reporting tools in place, many will suffer in silence.
• Take reasonable steps to prevent discrimination and harassment : Typically, employers will only avoid liability in the event of a discrimination case if they can show they have taken ‘all reasonable steps’ to protect employees, such as implementing an effective and secure solution for reporting sensitive issues that take place in person or digitally.

Sarah Taylor is a Content Author at High Speed Training, the specialist online training provider to the hospitality sector. She advises cafes, pubs and restaurants on how they can adapt their business for delivery services in response to Government guidelines in order to stay profitable:

Following the Government’s call to close cafes, pubs and restaurants, many establishments have taken the initiative to temporarily change their business models in order to keep a source of revenue and operate solely as a ‘takeaway’ or delivery service. Customers are keen to show their support, as demonstrated by the widespread use of #supportlocal on social media. Meltwater data tells us that on the day businesses closed their doors to dine-in customers, the hashtag was mentioned 21,700 times in 24 hours.

In the first week of business since shutdown measures were introduced, we collaborated with market research company OnePoll to conduct a nationally representative survey of more than 2,000 people in the UK. The nationally representative survey highlighted continued widespread support and demand for local hospitality venues to serve their communities during lockdown – 83% of people would order food and drink to enjoy at home. Businesses therefore have the opportunity to continue generating an income off the back of customers’ new found appetite for supporting local establishments.

While the new legislation allowing takeaway and delivery services, as well as the online public support, represents a much-needed lifeline for hospitality businesses, it brings with it new challenges and a steep learning curve to ensure operations are run effectively, safely and are still profitable. New food hygiene procedures and contactless delivery methods are two of the many considerations that managers across the UK are grappling with.

Businesses therefore have the opportunity to continue generating an income off the back of customers’ new found appetite for supporting local establishments.

To help guide pubs, cafes and restaurants as they create new survival strategies, we asked the nation what would make them more likely to order a takeaway or delivery service from their ‘local’. Paying online and the promise of high food hygiene standards were the two most popular criteria, both voted for by 42% of Brits, providing a useful indicator for the information businesses should be promoting  in order to continue generating revenue during these turbulent times. ‘Contactless’ delivery with no face-to-face contact was third (28%).

Recognising the demands on supermarkets currently, many people also pointed to a preference to avoid stores where possible (25%), or a lack of available delivery slots (22%), which provides a solid rationale for businesses selling groceries direct to the public such as freshly made pasta and sauces to tap into a new pool of potential customers.

From a marketing perspective, a quarter of people (25%) indicated that they would like to be made aware of healthy meal options. Online interaction whether via websites or social media channels was revealed to be the least likely way to prompt an order and increase profitability, for example hosting virtual cooking classes.

Looking internally, implementing new operations at the same time as meeting a surge in demand for delivery can be extremely difficult for businesses to manage. Wherever possible, businesses should try to develop short, medium and long-term contingency plans that factor in processes for keeping standards high, timely order fulfilment, balancing good stock levels of fresh ingredients and increase income as a result.

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One of the biggest challenges will be choosing how to fulfil orders. Look at the benefits and limitations for delivering food direct to customers or signing up to a delivery provider if within a catchment area. The likes of Deliveroo and Uber Eats have recently published guidelines for restaurants as they see sign-ups in urban areas soar. Those outside of their catchment areas or that prefer to go solo may prefer to utilise software from the likes of Access Hospitality. Whichever route is chosen, the method of serving customers needs to be in line with profit margins in place, adhere to the legal requirements for food delivery services and work efficiently for both the business and consumer.

As well as choosing the most convenient delivery model, businesses should also review and condense their menu to streamline their service and adjust opening hours to target peak time periods in order to guarantee profitability. These are disruptive and defining times for the hospitality sector, and businesses need to be reacting quickly to the constantly evolving situation. Fully grasping how and why Brits are changing their eating habits, as well as carefully reviewing how best to modify their offering are just some of the simple steps businesses need to be taking into account in order to keep up with the change in demand.

With the entire world feeling the effects of the COVID-19 pandemic, many businesses have found themselves in a precarious position. While virtually every enterprise is guaranteed to feel some degree of financial sting, the safety of your most precious assets – i.e., your team members – is infinitely more important than profit during this trying time. After all, if your employees can’t depend on you to prioritize their wellbeing at this point in time, when can they count on you? Business owners and entrepreneurs looking for ways to help guide their team members through this global crisis will be well-served by the following pointers.

Fully Embrace Telecommuting

No matter what your personal views on telecommuting are, fully embracing it is one of the most effective ways to keep your team members safe throughout this crisis. In order to flatten the curve and control the rate of infection, people need to isolate as much as possible. The more time your employees spend outside of their homes, the more opportunities for infection they’ll encounter, and it won’t take long for a single COVID-stricken employee to infect your entire workforce. Since carriers can be asymptomatic for weeks before the infection becomes apparent, it may be too late to control the spread by the time the initial carrier is noticeably ill. Additionally, for some carriers, the virus manifests itself through mild to mid-level cold or flu symptoms, so the infected party may believe themselves to be suffering from something less serious and come to work sick. Keep in mind that even if a carrier only has a mild case of COVID-19, the people they spread the virus to can have far more serious cases.

It is also vital that lines of communication be kept open while employees are working remotely. For guidance on how to keep your business’s finances stable during this time, Shakespeare Martineau’s Chris von Strandmann has offered advice on developing effective contingency plans.

Keep in mind that even if a carrier only has a mild case of COVID-19, the people they spread the virus to can have far more serious cases.

Send Money to Employees in Immediate Need

Many of us live paycheck to paycheck. Due largely in part to an ever-increasing cost of living, building robust savings simply isn’t feasible for most members of the workforce. That being the case, a single medical emergency, furlough or delayed paycheck can prove financially ruinous. As such, if any of your employees are in immediate need of emergency funds, now is the time to be generous. Whether they’re dealing with steep medical bills, require help making rent or need money for food, there’s never been a better time to show your team members just how much they mean to you. Fortunately, there are many convenient ways to send money to people in need.

Relax Stringent Deadlines

The world has changed dramatically in a very short span of time. Not only has the virus caused many enterprises to change the way they do business, it’s prompted many people to rethink their individual priorities. With people concerned about their personal safety, worrying about loved ones and dealing with sick family members, some individuals have had no choice but to put career matters on the backburner. In light of all the outside issues your team members are dealing with during this time, you should consider relaxing stringent project deadlines. Work can still be important, but with a pandemic ravaging the globe, it shouldn’t be your team’s foremost priority.

On the subject of deadlines, if you are worried about the pandemic leaving you unable to complete your contracts, then you aren’t alone. Consider looking into whether these contracts might be mitigated by frustration or force majeure clauses.

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Giving Sick Employees Time to Recover

Few things are more difficult than effectively doing your job while sick. Additionally, employers who expect team members to perform their usual duties while stricken will illness generally aren’t looked upon favorably by the general public. With this in mind, allow any employee who’s fallen ill to take a paid break from work until such time as they are completely better. Their recovery is infinitely more important than any financial setbacks you may suffer.

For the vast majority of us, the COVID-19 pandemic is a completely unprecedented occurrence. Aside from the few centurions who were around for the Spanish flu, no one in the developed world has experienced anything of this magnitude in their lifetime. There’s no denying that this is a frightening time to be living through. With infection numbers increasing by the day and a definitive cure not currently existing, even the most levelheaded among us can’t help but feel tremendous worry. Additionally, given the scope and severity of this virus, businesses – and world economies – are sure to be adversely impacted. However, in these troubled times, it is imperative that the safety and wellbeing of your team members take precedence over profit.

Worldwide stock indexes experienced mixed fortunes on Tuesday, with some investors cheered by the Chinese economy’s apparent return to growth after a month spent battling the COVID-19 outbreak.

Among the indexes showing mild signs of recovery were the FTSE-100, which was up by 0.8% on Tuesday morning.

Other European stocks wobbled, with France’s CAC 40 seeing a 1% slide while Germany’s DAX was 0.6% down.

Despite the FTSE’s uptick, the London index remains roughly 26% down from its standing at the start of the year, having seen a mass sell-off following 9 March (colloquially known as “Black Monday”).

Showing greater optimism were Asian indexes, with Japan’s Nikkei rising by 0.9% and South Korea’s KOSPI Composite Index closing after a 2.2% net increase.

These gains follow the overnight release of China’s Purchasing Manager’s Index (PMI) for March as 52.0, an unexpectedly good showing for the nation’s economy after much of its production was put on hold during the month.

It is worth acknowledging, however, that a recovering stock market does not necessarily equate to a recovering economy. Also on Tuesday, the World Bank warned that 11 million people in East Asian countries, including China, are likely to face poverty as a result of economic downturn.

“Countries must take action now – including urgent investments in healthcare capacity and targeted fiscal measures – to mitigate some of the immediate impacts,” the World Bank said in a press release.

A lockdown of over a quarter of the world’s population has been sprung upon us. Access to everyday essentials like food and space has been severely limited, with government decree that people are to only leave their homes once a day.

Naturally, a seismic event like this has impacted everything in its path, leaving no individual or business spared. Since mid-February, we’ve seen lots of investors withdraw from investments in response to COVID-19, creating even further pressure on thousands of start-ups and scaleups across all sectors. Sadly, more will be applied in the coming months due to the movement limitations impacting any travel, tourism or hospitality businesses.

It’s going to be a difficult few months for many, but one of the best ways to mitigate risk is to invest further whether this is in time or money. Sales and the financial runway have undoubtedly taken a hit, resulting in the need to protect your asset. A quick bridging loan or purchasing some additional capital might solidify a venture at this time.

By simply spending any spare time you have with their executive team, you can help to guide them through these challenges, ensuring a solid return on your investment in the future and placing yourself at the front of the queue for their next financing round once the company returns to health.

This is clearly a very worrying period but even in these conditions, we, at Seedlegals, have seen many reasons for optimism for both businesses and investors.

Firstly, there are many companies which are now literally saving lives. Those in online healthcare, manufacturing and even fitness apps are helping to keep the country moving. The UK is one of the most obese nations in the world today and helping those to keep as active as possible is a very necessary service.

Sales and the financial runway have undoubtedly taken a hit, resulting in the need to protect your asset. A quick bridging loan or purchasing some additional capital might solidify a venture at this time.

These businesses will be placed under more strain than ever before, none more so than food delivery services like Deliveroo, Uber Eats and many of their smaller competitors. Prime Minister Johnson called on the British public to use these as much as possible, which naturally will do wonders for their valuations but will require significant investment to keep pace, grow and develop as required.

Therein lies the opportunity for investment, which otherwise would unlikely have become available. The opportunity to support these businesses, both financially and with experience, could make all the difference to keeping the population well cared for and supported as long as required.

This challenging time will also shine a light on certain sectors that otherwise would not have seen much attention. In the past three years, somewhat surprisingly, no individual sector has seen significantly more investment than another. SeedLegals data has been fairly consistent with investors being agnostic to the industry they back. Now, however, we think it’s likely that MedTech, EdTech and social impact start-ups, as well as the others already mentioned, will see more attention than their peers, at least in the short term.

Of course, as is always advisable, diversifying one’s strategy is key at this time. As we’ve already seen, which is likely to continue for the rest of the calendar year, global markets will see a lot of turbulence. Certain technologies will fall in and out of favour, as well as companies. Ensuring you are backing a plethora of innovative firms should ensure your capital is as well protected as possible.

A number of investors will have been scared out of the market following the recent troubles but most advisers would suggest that we are now in the perfect time to invest. Companies need support and their valuations are likely less than before, moving the relative price and opportunity balance in favour of the investor.

Another shift could see the change in relationships between investors. One thing I’ve long been surprised about is the lack of venture capital and angel “chatter”. Every hour of every day we see founders speaking with their contemporaries about problems, issues, solutions and suggestions. Now, I appreciate that most of the time these would not be competitors, whereas on the investment side of the table if you were to give a tip to someone, they could attempt to steal your lunch money. With the global challenges upon us, a tighter knit investor community will hopefully emerge, especially in the high-growth tech sector which can only be a good thing for all concerned.

Ensuring you are backing a plethora of innovative firms should ensure your capital is as well protected as possible.

Staying on this theme, I genuinely believe that the best way to mitigate risk at this difficult time is for everyone to work together. If there is more of an open dialogue then an individual’s concerns or worries could be allayed, leading to increased investment in our society bringing us back to growth. And if you’re concerned about your level of contribution, there are many options around top-up investments to provide enough support to back any company whilst reserving the right to hold back some cash at this time.

It is no surprise that investors are being extra cautious about their money, and rightly so. However, the value proposition for the large majority of companies is still there and in most cases, the leadership team hasn’t changed. The opportunity is still ripe, the founders are still passionate, if not more so, but we just need to help this haze pass by getting involved now, before it’s too late. This will be the best way to break the virus’ hold on our economy.

The fact of the matter is, real estate has been performing even worse than the S&P, which is highly unusual, considering that historically REITs have always offered better downside protection than other equities.
Why is that happening?

Following the quarantine measures imposed due to the COVID-19 pandemic, a lot of businesses have to temporarily cease operations. Almost every company, from corporations to small businesses, is or will be impacted. This sudden slump in economic activity is incredibly dangerous; the cash flow chain is disrupted, leaving companies with no cash to cover employee salaries, mortgage payments, and rent payments. Naturally, when businesses start defaulting, a liquidity crisis is to be expected. For example, if tenants start postponing rent payments, it’s the REIT companies that bear the losses.

Considering that most REITs are using leverage, that poses a threat to the banks too. The difference from 2008 to now is that a much bigger part of the US real estate market is financed by small mortgage originators that operate as REITs, which originates from the aftermath of the last crisis and the strict regulations imposed on big banks.

Pricing in those risks, investors have punished the real estate sector harshly. But are they right in doing so?

Data shows that real estate companies have learned their lesson from the 2008 crisis. Following years of strong performance, REITs have reduced their debt levels substantially and now their balance sheets look healthier than ever; they are certainly in a position to weather the storm.

According to data from NAREIT, REITs are currently sitting on $28 billion of cash and $120 billion of untapped credit lines. The weighted average ratio of cash and credit lines to interest expense is 10, meaning that currently, REITs hold 10 times the amount in cash and available credit to cover their interest payments. On top of that, managers are starting to show increasing confidence by buying up their companies’ stock. Herbert Simon (Chairman, Simon Property Group $SPG) bought a total of 188,572 shares, or the equivalent of $9.9 million and Peter Carlino (CEO, Gaming and Leisure Properties $GLPI) purchased 80,000 shares for the price of $2 million. Arbor Realty Trust $ABR announced a $100 million share buyback program, which at the current market cap represents 10% of the total float.

So why has every other REIT dropped by 50–60% in the past few weeks then, when rationally, this shouldn’t be the case? The COVID-19 crisis is real and it shouldn’t be underestimated. The danger for people’s health and the danger for the economy is significant. However, we shouldn’t suddenly forget how to value solid fundamentals. Real estate companies derive their revenue from long-term leases, and that’s how rational investors should value REIT companies — based on their potential for future cash flow generation. And by future, we mean years - not a few months. There’s a high chance that real estate prices will drop and many companies will release disappointing results for 2020, but that shouldn’t have a huge impact on their valuation, considering the long-term nature of their assets. Regardless of the struggles we may experience in the next few quarters, the demand for housing won’t suddenly disappear. The demand for hospitals is certainly here to stay. The demand for offices, industrial buildings, hotels and experiential properties has only been increasing over the past decades, and to think that this demand will disappear means that we believe that this recession will last for decades — which when we look at the past is highly unlikely.

In this market of panic and scary headlines, it’s more important than ever to look at the facts and ignore the noise. We are undoubtedly faced with risks and uncertainty connected to COVID-19, however, the panic in the commercial real estate market is overblown. Currently, due to its solid fundamentals and a high possibility for recovery, this stands as one of the safest sectors. As the Persian saying goes “This too shall pass”, and the chance that the prices we’re seeing now will look like a steal in a few years is too high.

This exceptional situation has exposed some interesting insights in terms of how technology can enable the way we work in our industry. However, it has also uncovered some critical gaps that many companies have to fill in their digital capabilities to truly enable their businesses to be adequately set up for the future.

In today’s world, our new ways of working fall into two ends of a spectrum:

• knowledge work that can be done remotely using technology
• collaborative “agile” work which is done using cross-functional teams (often co-located)

We are only now starting to make this distinction between these two ways of working outside of a traditional office environment, which for financial services, in particular, has long been the norm due to the heavy bands of regulation that envelope the industry and legacy cultures that sit within it.

Enabling daily work with technology

In these first few weeks of the crisis, many of us have rightly been focusing on the urgent business at hand - making sure our people are safe, activating our contingency plans (or putting them in place for some), figuring out how we are going to operate over the few next weeks, or even months given the uncertainty that surrounds this pandemic.

As we start to settle into this new normal, it is becoming increasingly clear that much of the ‘knowledge’ work doesn’t need to be done face-to-face. Technology like Zoom and Microsoft Teams enables many of us to do this work without travel, without offices - with just a phone, laptop, and a decent internet connection to hand.

But it requires us to adapt, to become more comfortable with the idea of being “remote” – where we can discuss and make decisions without physically being in the same room, or equally as important, accessing day-to-day social and support systems over technology; we’ve seen waves of people hosting virtual happy hours and team-building sessions to break up the working week. This change is happening in real-time and poses some very interesting questions over the future of office-based work.

It’s important to remember that a widespread shift to remote working also necessitates investment in technology infrastructure and bandwidth. We’ve all experienced first-hand how technology can get overwhelmed when overloaded. With more people logging on at the same time, pressures are put on infrastructure. We need to put the days of grainy video calls behind us and focus on ensuring our tools and bandwidth can enable this new way of working without unnecessary friction.

 Impact of the Digital gap on employee safety, customer service, and cost

The Digital gap has become apparent in several scenarios. For example, we have seen customer service centres that are highly tech-savvy who are doing a phenomenal job of protecting their people while continuing to deliver great service, while others have limited ability to do so.

The tech-enabled companies have been able to have their employees start working from home practically (and literally) at the flip of a switch. Their telephone technology is cloud-based or cloud-ready, and they use automated workforce management systems that enable them to have the flexibility they need with staff in times of crisis.

Technology like Zoom and Microsoft Teams enables many of us to do this work without travel, without offices - with just a phone, laptop, and a decent internet connection to hand.

On the other hand, those with legacy technology have been slow to respond – they have had people still coming into the office in smaller shifts to answer the phones, lowering service levels for customers and creating potential health risks among employees. Furthermore, these older operating models are more expensive for organisations to operate – historically, there hasn’t been a real priority to replace them.

In this day and age, in our industry, companies must look to transition from these legacy technologies to more cloud-based digital capabilities that enable flexibility and drive tremendous efficiencies. Perhaps this crisis will provide the impetus for making these necessary investments.

What about collaboration in agile?

 Over the past few years, companies in the financial services industry have started down the path of becoming highly collaborative and iterative across their businesses, enabling them to bring ideas and products to market in record time and with real relevance to their customers. The “agile” trend really started in the technology function but has now taken hold and is creating real value on the business side as well.

This collaborative, agile work is currently harder to reimagine with digital capabilities; many companies are experimenting with tools and methods that enable teams to work without being co-located. However, the teams that are in the same room, around the same whiteboard, and working together closely are usually more productive and typically drive better solutions than ones that are collaborating remotely. In the end, there will have to be a calculated tradeoff between in-person collaboration and technology-enabled remote working to drive real value.

Conclusion

 There is a spectrum of how we do work – pure knowledge (highly tech-enabled) to pure collaborative (highly co-located) – this situation has shown us how we can push ourselves further down toward the collaborative side of the spectrum using technology…never fully replacing co-location, but understanding where it is critical to deliver results and where it is not. It has not only exposed opportunities to work in new and different ways in times of crises, but also in the times that follow.

Following the recent setback in equity markets, we have had a number of clients contacting us about whether they should move their investments to cash given the uncertainty around.

These concerns are of course justified. The world always carries uncertainty and there is enough of it about what with the threat of trade wars and a slowing global economy.

The trouble is that equity markets generally trend upwards over the longer term, even though it’s not unusual for them to fall by 10% over a short time. The FTSE 100, for example, has regularly fallen by 10% since 1990, though it’s relatively rare for it to fall by more than 20%.

Many clients talk about selling and moving to cash for six months, effectively suggesting a wait and see approach. But any decision to move to cash/sell down equities means that two things need to happen to make it ‘work’: 1) markets must continue to fall and 2) a decision must then be taken to reinvest after they have fallen from current levels.

From experience, it is not obvious that 1) always happens. Markets are just the collective opinion of what the price of something should be. Everyone buying and selling securities has taken a view as to what might happen and even if markets do fall further, getting back in is extremely difficult. When markets fall further then the gloom is amplified and people do not want to invest or buy.

It is possible that you sell down to cash only to see the market recover. This then would put a massive dent in your returns profile and would force you to make an uncomfortable decision to reinvest with markets at a higher level.

As a discretionary wealth manager, we ensure our clients’ investments are suitable for them. A 10% correction, or even one of 20-30%, should not change that assessment. If it does, think about your appetite for risk, but we would caution against any knee-jerk decisions. It’s better to review your risk profile regularly rather than move it around depending on how you feel on a day to day basis.

On a long-term view, these setbacks are ‘blips’. If you are still working and ‘accumulating’ capital, these setbacks allow you to buy more equities with a given amount of capital: when the recovery comes, you get an outsized effect on your overall pot.

It is obviously unnerving to see the value of your portfolio suddenly drop. However, if you move to cash, you run the risk of selling at exactly the wrong time. Regular corrections are the ‘price’ investors pay for good returns over the long term.

More than 340,000 people have been infected by the coronavirus globally, according to the World Health Organisation, and the number is expected to continue to grow in the coming months.

The pandemic has prompted a sea change in attitudes to the adoption and deployment of digital solutions for pressures in the healthcare system. Adopting technology to enable instant patient access to healthcare and reduce the need for face-to-face consultation has never before received so much support.

While the NHS has long-held plans to achieve digital-first primary care by 2023, the COVID-19 pandemic has accelerated uptake. Within days of the novel coronavirus reaching the UK, Boris Johnson called for the British public to avoid using the NHS-111 line for their health concerns and instead “use the internet if they can”. Meanwhile, Secretary of State for Health and Social Care Matt Hancock has been explicit about his vision to widely implement the use of technology to advance the NHS and better meet the needs of clinicians, patients and managers.

It is clear: COVID-19 has changed everything.

The impact of the virus outbreak has evidenced an urgent need for critical structural changes to create a healthcare system that can scale up and down quickly to meet demand. Ageing and growing populations have always loomed as the largest threat to our overwhelmed health care system, but the coronavirus has highlighted an even greater problem - supply, with limited or static numbers of clinicians and narrow access points to medical advice.

It is impossible to manifest armies of healthcare workers into reality overnight. It takes decades to develop and train a workforce and build the facilities for them to physically operate from.

But new technology can remove friction from the healthcare system, direct patients to the right clinician the first time, and ultimately give doctors back time to focus on the most complex and pressing cases.

Evolving technology allows people to gain access to the medical care and help they need on such an accelerated and efficient timeline that even sceptics can’t deny the benefits of virtual solutions, and in these uncertain times, the government has emphasised its support of HealthTech development. This provides added promise to the industry’s future success and investment interest and makes HealthTech an exciting and attractive current investment strategy.

It is clear: COVID-19 has changed everything.

Individuals who invest in HealthTech will be helping the reality of a digital-first care system be realised by providing the financial resources to companies trying to do so.

The UK’s leading symptom assessment provider to the NHS, Doctorlink, made updates to detect potential COVID-19 cases as soon as the novel coronavirus was announced in January – and has been evolving in line with best practice and new knowledge ever since. As of 24^th March, the company had implemented eleven updates to the digital triage technology to detect potential cases of COVID-19 and will likely have made many further changes in line with NHSE and PHE guidance by the time you read this.

This digital triage eases the burden on the NHS and has created a more cost-effective and efficient healthcare solution. Results evidence a significant drop in call volumes – by a third – as well as significant cost and time savings for clinicians, to the tune of 15,000 clinical hours per practice each year.

HealthTech can quickly solve otherwise critical problems and fulfil the growing demand. While adoption has been gradual until now, the current global health crisis has created an incredible surge in demand. This leads to a reliable prediction of material acceleration in adoption in the coming months, leaving space for HealthTech to hold its spot on the top of popularity lists for customer adoption and investor interest.

So long as several factors are considered and risks are assessed, HealthTech represents an attractive investment in these unprecedented times. It is important to remember to make investment choices on something with proven success. There are lots of solutions on the market in test, in pilot, or making outrageous claims and it can be difficult to discern between viable opportunities and those which will waste your time.

If a solution is being used in one part of the market and has passed all accreditations, regulatory requirements, and has applications in a broader market, then it might be a great investment with the right management team.

For those considering medium-term investment propositions, there are a lot of companies out there that create value in the market to providers and patients, while also offering a socially responsible opportunity for investors.

On Friday, President Trump signed into law the largest-ever US economic stimulus package, worth $2 trillion and aimed at shoring up the country’s industries and medical infrastructure as the coronavirus (COVID-19) pandemic continues to spread.

Touting the package as “twice as large” as any other in American history, the President stated that it would bring “urgent relief to our nation’s families, workers, and businesses”.

The bi-partisan bill includes grants to healthcare providers worth $100 billion, with a further 20% increase in Medicare payments for treating patients who have contracted COVID-19.

Additionally, the bill will seek to deliver one-time payments of $1,200 to every American citizen earning under $75,000 a year, and an additional $500 dollars per child. Provisions for freelancers and workers in the “gig economy” have been added to the unemployment benefits programme, bolstering the fortunes of workers not normally covered.

The bill also creates a $500 billion lending programme for industries, and even cities and states, that have been worst affected by the pandemic. Treasury Secretary Steven Mnuchin will control the dissemination of this fund.

While amendments to the bill have ordered an inspector general to oversee Mr Mnuchin’s use of this lending programme, President Trump signalled in a signing statement that the White House will reject requests for information coming from the watchdog.

Aside from this half-trillion-dollar programme, a further $58 billion has been set aside specifically to provide grants to airlines, encouraging them to retain their staff and continue to pay wages amid a significant decrease in demand for air travel.

Last week saw 3.3 million Americans filing for unemployment, a record high.

The novel coronavirus (COVID-19) has had an enormous impact on the world in terms of human health and longevity. It is also impossible to deny the effect COVID-19 is having on the global economy. Many powerful nations, including the UK, have experienced a depreciation in their currency since the first cases of the virus were reported. From an automotive perspective, things may appear very grim at the moment. The closure of auto plants in Europe, North America, and Latin America could result in a reduction in global production by as many as 1.4 million vehicles. In the US, Ford Motors has not had an easy start to the year and on Monday, March 23rd, the company shut down its factories in South Africa, India, Vietnam, and Thailand amidst an increase in COVID-19 cases in these regions. With the company’s shares falling by 38% since the start of the year, consumers can’t help but wonder whether this is a superb buying opportunity in disguise.

Have Faith in the Brand

Although Ford has faced a number of obstacles in recent years mostly thanks to an aging product line in the US and several slip-ups in China, the future does not look entirely bleak for the prominent US company. Even in spite of the uncertainty cast over the industry by COVID-19, there are quite a number of reasons to have at least a degree of confidence in the future of the brand. Not only does Ford continuously rank highly in peer reviews, but it also sports a very moderate debt load that is surprisingly well-structured. The manufacturer also has ample funds at its disposal that will enable it to withstand a slump such as the one we are currently experiencing.

Aging Product Line Set to Get a Youthful Boost

While Ford’s aging product line might have acted as a strong deterrent as far as investments were concerned, new additions to the line will boost the company’s profit margins significantly in the next few years. Toward the end of 2019, Ford released updated versions of some of its best-selling models to date: the Escape and Explorer SUVs. Some of the models set for release this year include the brand-new Bronco Sport, as well as updated versions of the highly-popular F-150 which, to date, has been the company’s golden goose. It is important to note that, starting this year, Ford will only be manufacturing two cars: the 2020 Mustang and the 2020 Ford Fusion. There will be no new models of the Fiesta, Focus, and Taurus released during 2020.

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Hi-Tech Auto Investments Will Start Paying Off in the Near Future

Although COVID-19 may cause a number of delays in the automotive industry, there are set of notable efforts in place that are looking very promising. This includes, but is not limited to, the imminent release of several electric car models including an electric version of the Transit Van and F-150 as well as the Mustang Mach –E sports SUV. These technologically-advanced vehicles are predicted to play a big part in not only enhancing the company’s bottom-line but also repair what has been failing the company.

While a recession is becoming a very real possibility in the US, the fact that Ford is trading at only 6.5 times its expected earnings for the year is making its shares exceedingly fascinating right now. Only time will tell, however,  whether now is the perfect time to invest a good portion of funding into one of the most well-known car brands in the world.

The COVID-19 pandemic now dominates every aspect of business and personal life, creating enormous public health and economic challenges across the world. In addition to the large-scale loss of life, we are facing unprecedented disruption to work and business activity. Even if some sectors are bailed out, a glut of insolvencies and bankruptcies seems inevitable. But where will the axe fall? Chris Robinson, a specialist corporate lawyer at Excello Law, explains.

Global supply chains in Europe, the current centre of the pandemic, face protracted disruption as the COVID-19 crisis highlights their fragility: the failure of one link can cause extensive disruption throughout the chain. Supply chains and labour markets are often complex and unstructured, even in ordinary circumstances. But COVID-19 is extraordinary:  the myriad effects of losses created by it will be diverse, disparate and on a scale never previously seen.

Ideally, supply chains are configured with back-to-back contracts and pay-when-paid clauses that allocate the loss appropriately and proportionately across the supply chain, or to parties who are insured. But this is the exception rather than the rule. The reality is that the loss will often fall on the weakest link in the chain, the small business who has not been able to negotiate let-outs, either with their customers or suppliers. You can be liable for breach of contract, including damages for loss of profits or wasted costs, even if the failure was beyond your control.

This raises many questions, not least concerning remedies provided by the law when the performance of a contract becomes impracticable. For example, is a party liable for breach of contract if they simply cannot comply? If the contract terms provide no let-out, then (under English law) the only legal escape is the legal concept of frustration.

You can be liable for breach of contract, including damages for loss of profits or wasted costs, even if the failure was beyond your control.

A contract is frustrated if something happens after the date of the contract that is not the fault of either party that makes further performance impossible or illegal, or is so fundamental that it strikes at the root of the contract, and is beyond what was contemplated by the parties when they entered into it. Frustration ends the contract entirely, with basic rights for advance payments to be refunded and parties to be reimbursed for expenses incurred.

Circumstances arising from COVID-19 are certainly capable of amounting to frustration, but difficulties in performing, extra costs or delays would not be enough. Long-term contracts, or employment contracts, are unlikely to be frustrated.

Many contracts contain force majeure clauses, allowing the parties to suspend performance for a period of time and/or terminate the contract without liability on either side. Whether a public health emergency amounts to force majeure will depend on the wording of the clause: the situation must be beyond the control of the affected party. If compliance with Government advice is voluntary, that might not help to bring the situation within the force majeure clause. Similarly, the presence of a force majeure clause may mean that the contract is not frustrated: if the agreed terms deal with a situation, that situation will not frustrate the contract. Force majeure clauses often require formalities, such a giving notice to the other party.

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Even though the economic havoc created by COVID-19 pales into insignificance compared to the scale of human tragedy it continues to cause, the health of the economy also has a very significant impact in keeping people alive and well. As damage continues to spread throughout the economy, the losses will be uneven, affecting some a great deal more harshly than others. Much of the cost will be felt through business failures, leading to many thousands of people losing their jobs. Employees, business owners, shareholders and pension fund members will bear the cost, but not in an equitable way.