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As the UK economy suffers the deepest recession on record, we believe now is the time to harness the power of your brand. So we have written a report for business leaders. The Recovery Report explains the importance of branding in a recession. It offers insight into how your brand can drive your business success, through the recession and into the recovery that follows.


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This report isn’t about rebranding. We’re not talking about how to change your brand – just how to change the way you use it. As a business gets bigger, it often becomes more complex. Each function – operations, HR, marketing, sales and finance – becomes more demanding, on time and expertise. So in this document we want to explain how your brand can support each function. We look at how it can add value that will contribute to your success.
 

Harness the power of your brand

Covid-19 has had a catastrophic impact on the UK economy. The economy contracted by 11.3% in 2020, and won’t return to pre-Covid levels until the end of 2022. Small and medium sized businesses generate about 30% of the UK’s turnover and employ about 28% of the workforce(1). But 71% saw revenue fall in 2020, and 9% fear they will fail within 6 months(2). Even the most ambitious business leaders will find this period challenging.

In the face of statistics and forecasts, it would be easy to conclude that now is the time to cutback and consolidate. But research suggests the opposite is often more effective(3). Businesses that take a step forward in a recession are typically more successful than those that just try to stand still.

In The Recovery Report we have looked at how your brand can drive your business success. There is particular emphasis on the role of branding in a recession. We have attempted to gather some facts and figures, supported by examples. Our aim is to provide some insight, so that you can make better decisions about how to navigate a successful course through this recession. The full report will be published in early 2021. Until then, we hope you find this Executive Summary useful.


Download The Recovery Report >


 


Branding in a recession: Advice for business leaders


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1. House of Commons Library, Business Statistics, 2018
2. McKinsey, COVID-19 and European small and medium-size enterprises, 2020
3. Harvard Business Review, Roaring Out of Recession, 2010