By Miles Barnes
Howes Percival LLP
FEW parts of the economy have had a more varied and tumultuous period recently than the food and drink sector.
While supermarkets and suppliers of core products have experienced unprecedented demand, those operating pubs, restaurants or businesses in their wider supply chains have seen their trade disappear almost overnight.
At Howes Percival we take pride in supporting the local food and drink sector, as demonstrated by our long-established sponsorship of the fantastic Northamptonshire Food & Drink Awards. During the current crisis we have been working tirelessly with our food and drink clients in a variety of ways:
* For some it’s been guiding them through the difficult process of putting staff on furlough or making redundancies;
* For others it’s been advising them on how their supply contracts can offer solutions to the huge and sudden shifts in the economic landscape; and
* For a number of our clients it has been a chance to slow down, reflect and plan for the future, by identifying problem areas and addressing them. Whether that is putting in place more robust terms and conditions, tightening up their regulatory compliance or even identifying where investment or acquisition could fuel future growth.
It has been incredible to see the way the people and businesses of Northamptonshire have reacted to this unprecedented time, no matter what their individual circumstances. The resilience shown by our food and drink businesses in particular is a great example for us all on how to push through the current struggles and plan for the opportunities ahead.