Meanwhile, the changes that were already taking place in recent years such as digital transformation and the move to online retail sales have been dramatically speeded up by the coronavirus crisis.
Consumer caution, increased unemployment, and reduced business investment are likely to be features of the coming months
The business environment has changed and consumer demand is unlikely to spring back to pre-COVID levels anytime soon.
So what can you do to avoid becoming a COVID casualty?
Here are nine actions your business can take to ride out the worst of the recession and speed up changes to be better placed for the post-COVID-19 environment.