Sir Bill English says a “W”-shaped downturn is not something businesses want to consider, but they need to prepare. Former prime minister Sir Bill English has issued a bleak warning to businesses to prepare for the worst case scenario as “cracks” created by the economic earthquake of Covid-19 become more apparent. Businesses might find by the middle of next year that they had 20 per cent less revenue as a “W”-shaped downturn took shape, and needed to ask if they could survive on that, English said. It could be really tough.”joseph johnson/Stuff English doubts there will be much action on the border before March. In the latest positive development, accounting software firm Xero reported on Thursday that small businesses’ revenues in June had rebounded to 2019 levels.

Source: Stuff July 30, 2020 00:53 UTC