The impact of a COVID-19 vaccine on business confidence

The news is here we’ve all been waiting for: a COVID-19 vaccine.

If share prices are anything to go by – British Airways has shot up in value and Zoom has plummeted – this vaccine could be set to save the global economy. Finally!

Retail sales are booming, and financial markets are picking up. It’s definitely the positivity we need for medium-term confidence and we’re already starting to see businesses making ambitious plans for 2021.

Originally, COVID-19 was predicted to follow the economic impact of Ebola in West Africa, or the Spanish flu, with highs and lows in terms of progress. But, fortunately for us, the vaccine has arrived in the middle of the pandemic – apparently a first in history. So, the news of this quickly developed vaccine could actually make up for our slow (for want of a better word…) response at the beginning of the pandemic.

It’s predicted that the vaccine will be widely available by Spring 2021, bringing us closer to a stronger economy around the time the furlough scheme is due to end. Hopefully, only causing a small increase in unemployment. It’ll be interesting to reflect on this blog when that time comes around.

Nothing is certain, we know. But, looking forward and taking risks is what will keep the economy going. Needless to say, the vaccine should reduce the need for lockdowns and heavy social distancing measures; meaning we can slowly make a return to ‘normal’, whatever that may be.

Businesses are in the starting blocks ready and raring to go but instead of waiting for the starting pistol to fire, we’re nervously eying each other up, to see who’s going to start the race. It’s brave to go first, it’s scary to commit to a direction of travel when you don’t know what’s around the corner, but it’s this very attitude that encourages everyone else to start running to.

At Meesons we’re confident 2021 is going to be a fantastic year. Certainly better than 2020, but let’s face it…that’s not difficult.