Author: wpengine

Working from home? Tips to work remotely like a pro
With many employees working from home amid global health concerns over the coronavirus, millions of people can expect to have their daily routines and work styles impacted.

Not everyone is accustomed to working from home, and getting into work a productive mindset from a space that’s not your regular one can be a huge adjustment.

There are advantages to working from home, not least the which is saving most of us from the daily commute (which most have come to loathe). But the challenges, including loneliness, staying connected, and more distractions can have a significant effect on your psyche and productivity.

At MDA Training, we are used to working remotely. Much of our training is delivered virtually, sometimes from our home, and due to the amount of travel involved in our industry, we encourage consultants to work from home if they have been away a lot. We have more experience than most perhaps in remote working.

Whether you’re are working from a spare bedroom, a coffee shop (my personal favourite), the library (maybe not the best if you have frequent calls or virtual meetings), or the lobby of your apartment building (I’ve seen that here in Hong Kong due to our small apartment size!), I’ve compiled some tips to help you get set up and virtually work like a professional, no matter where you are.

Make the most of your platform

Traditionally our company has used WebEx to deliver webinars and meet virtually, as have some of our large banking clients. Recently we have switched to Zoom. Your organisation will have its own virtual platform, either one of these or another.
Whichever platform you use, there are some great features that enable a sense of connectedness. File sharing, annotating screens, whiteboards, instant messaging, virtual breakout rooms and non-verbal feedback like emoticons are all very standard.

Rather than just using it as only a video conferencing tool, getting to know the features of whichever platform you are using will enhance your productivity and engagement, and those of others.

Your workstation

If you haven’t set up a proper workstation at home, you would miss the regular working environment. To deal with it, set up your home office just like your workplace to feel more connected to work. Working from your bed or sofa is not too ideal for ensuring productivity.

Your laptop will likely have a built-in camera and audio, but it makes a big difference in the experience for you and others in the meeting when you have a quality webcam and a good microphone.

I use a Logitech Brio Webcam and a set of Airpods for enhanced audio and video quality. Even a pair of wired mic-enabled headphones can go a long way. Lighting also is crucial. Sitting in a dark room with a bright light directly overhead will seriously impact the way people see you. If possible, try to have your face by natural light, like a nearby window or get a small webcam light.

Virtual backgrounds

As someone who regularly delivers webinars from home to investment banking clients, one of my best tips is to use a virtual background. When having a video conversation, a professional virtual background can help people get the needed professional impression from you.

Even blurring the background may be the most appropriate solution for your requirements – all of these features are usually available on video conferencing platforms.

Leverage in-meeting chat to share files & resources

I use in-meeting chat as a way to share links or resources that may be discussed in the meeting. For example, team members will share Microsoft office docs, URLs, or just quick comments (as to not disrupt ongoing conversations).
This is important as it goes a long way to replicate a lot of the informal conversations we have in our normal office environment.

Other work-from-home tips

Small breaks are important and built into our normal working environment, and it’s important to keep up similar routines at home. My main recommendation is to keep up your routine just as you would if going into an office. Doing all the things you do in the morning — brushing your teeth, showering, eating breakfast, etc. — will help you deal with the disruption many of us currently face.

Here are a few other work-from-home tips from myself and my colleagues at MDA Training:
- Dress for work – you should put on a shirt or outfit you’d normally wear to the office and not your sweat pants you wear when no one else is home
- Move about – stretch, take a lap around the house, stand at the kitchen bar and work from there for a while. Many of us will not have the ergonomically designed chair we are used to in the office which can have an impact on our bodies
- Communicate your availability – share your calendar, block off time for specific tasks, set reminders, and make sure you keep track of time. It’s easy to work through the time you made a commitment to start dinner
- Eliminate distractions as best you can – shut the door, or even hang a curtain to give yourself some privacy and separation
- Avoid isolation & loneliness – have daily team check-ins or arrange a virtual lunch with your team. Talk live or disable the audio and chat with the group or 1-on-1 privately, whatever helps you get the conversation and connection you need.
Author: Ryan Spendelow
March 24, 2020
Analysing the UK Government’s economic response to the COVID-19 pandemic

There is no doubting the fact that the COVID-19 pandemic has already begun to cause significant disruptions to the worldwide economy.

Given the fact that the majority of businesses in the UK will see their operations affected, it is no surprise that attention has fallen on the Government, along with what is going to be done to slow down the rapid decline in trade and investment throughout the country.

Even before Rishi Sunak delivered the first budget speech of his tenure as Chancellor last week, the impact of coronavirus was a hot topic, made even more relevant by the fact that the Bank of England decided to slash interest rates to 0.25%.

In response, the Chancellor introduced policies like £7bn in support for the self-employed, businesses and vulnerable, as well as a £5bn emergency response fund for the NHS. Just one week later, however, and the situation has been completely turned on its head.

In light of updated medical advice and strategies, there are now much higher financial measures in place to support businesses through this uncertain time. A £350bn package is now available for companies with £330bn in loans, and £20bn in other aid.

In addition to this, the government will pay the wages of employees unable to work due to the pandemic, in a move to protect jobs. They will pay 80% of salary for staff who are kept on by their employer, covering wages of up to £2,500 a month.

Even with this much support, which may seem like a way out for businesses in the coming months, careful consideration needs to be made before taking on so much debt. Small companies may wind up paying a vast majority of their profit margins back to the Government if they act without thinking.

Fast forward since the budget announcement and the Bank of England made another sweeping move by slashing interest rates for the second time in a week; this time from 0.25% to 0.1%, the lowest they have been in the Bank of England’s 325 year history. Partner this with the fact that the pound has dropped to its lowest level in 30 years and you begin to realise just how much of a downturn in public spend is to be expected.

Make no mistakes; businesses need cash flow, and they need it quickly. This is going to be an extremely challenging period for so many business owners, but the fact that China has begun to report no new cases 80 days on from the first reported case of COVID-19, there is but a flicker of hope.

Empty words and promised loans will not serve as the long term solution in paying rents, rates and supporting livelihoods; cash flow will.

March 23, 2020
Have you adopted the right learning programmes for your banking operations?
A modern banking operation has to account for so much more than it did several years ago, as compliance, innovation and market disruptions are so much more prevalent than they used to be. Much like all of the connecting pieces of a jigsaw, a banking operation needs every part to work in order for the business to succeed.

This, of course, means that in terms of workplace development and employee wellbeing, there needs to be a consideration and implementation of the best learning programmes for bank operations in order to remain competitive.

From digital learning software to business simulations that facilitate real-life scenarios, there are many training solutions now widely available. But how can employers choose the right ones?

Focusing on the needs of the employees

It makes sense that the needs of the typical banking employee should be considered when investing in learning programmes, as they are the ones who will engage with them, benefit from them and ultimately use what they learn from them to drive the business forward in their respective field(s).

With so many different employees from varied backgrounds and with different skill sets to account for, it can be challenging to provide the right learning programme to prepare everyone adequately. This can be made inherently easier, however, by taking the time to understand what employees need.

When looking for the right learning programmes to improve banking operations, leaders should ask themselves the following:
- What are the critical operations within the bank?
- Where are our areas for improvement?
- How can my employees best develop their skills?
- Which learning programmes are available for my banking operations?
Once the answers to these questions can be answered, it will become clear what needs to be prioritised in order to provide a learning programme that drives real organisational change and produces long term results.

MDA Training’s learning programmes for bank operations

At MDA Training, our learning programmes for bank operations are tailored directly to the specific goals, KPIs and values set by our clients. From a digital suite of e-learning solutions to interactive, experiential training events, we are able to embed and sustain learning back in the workplace.

From onboarding to product issues and compliance, we offer a range of modules that enable employees to challenge the status quo and embrace adaptive, agile thinking. In utilising these methods, people come away with the relevant skills and insights to drive the business forward.

Our ‘Client Centricity’ simulation builder also allows you to create a learning programme based on your values and standards. With over 30 years of experience in training for the banking sector, we are able to design and deliver an experiential, simulation-based new entry programme for your bank. Click here to build your simulation today.

FOR MORE INFORMATION ON THE LEARNING PROGRAMMES WE PROVIDE FOR BANKING OPERATIONS, CONTACT MDA TRAINING TODAY.
March 17, 2020
Why your business banking training programmes might be failing

Banks will spend a significant amount of their budget on business banking training programmes to develop the skills of employees across an entire hierarchy, in several key areas. Far too many of these companies, however, will waste their time, effort and money on a solution that does not yield a return on investment.

Much like the competitive and disruptive nature of the banking sector, workplace training has developed to a point where there are now innovative and proven methods that serve to improve operations at all stages.

Despite this, there is still a disparity between those in charge of the implementation of business banking training courses, and the methods that will make their business more competitive and future-proof.

With this in mind, we’ve outlined three reasons why business banking training programmes may be failing:

1. Using outdated workplace training methods

The traditional image associated with the phrase ‘workplace training’ involves a group session where all employees sit around and listen to a guest speaker, or, watch a video related to the work they carry out. From this, employees will be expected to learn and take on information in a specific way. With so many new and improved methods now widely available, it is simply naive to carry on working with these methods.

Particularly in the banking sector, which is continually dominated by technology and innovation, taking the time to research and implement training methods that are proven to be successful can drastically improve operations.

Especially when you consider that in the next two to three years, machines will be capable of performing approximately 30% of the work currently done at banks, technology needs to be considered.

2. Trying to adopt a ‘one size fits all’ approach

We have previously explored the importance of adopting a blended approach to business banking training instead of trying to develop the skills of an entire workforce at once. Especially for large corporations with a broad and diverse range of employees, a one size fits all approach will not work.

Research has shown that employees learn in different ways and develop their skills related to their own backgrounds and experiences. While one employee will prefer to engage in a group discussion or seminar, another will prefer to access an e-learning platform and work through it in their own time.

Here at MDA Training, our experiential learning solutions for the banking sector are delivered through several mediums which serve to improve learning retention. For more information, please click here.

3. Failing to understand what your employees want to learn

Leaders in the banking sector will always have an idea of what they want their training programmes to be focused on. Whether it’s compliance, client centricity, general operations or anything else related to the business, there will be areas for improvement.

While it is useful to prepare what business banking training programmes will entail, it may not be at all related to the areas in which employees feel they need to develop. Failure to communicate with the workforce in regards to training can lead to disengaged employees who do not improve their skills. This is highlighted by the fact that 40% of employees who receive inadequate workplace training leave their positions in the first year.

There needs to be a dedicated investment of time, money and resources in order to implement a business banking training programme that makes a positive difference across an entire organisation. This investment needs to come from those at the very top in order to motivate and engage employees at all levels.

Embracing the digital age and new methods of learning, tailoring training to the needs of individuals and actively communicating with those who are going to partake in training programmes will help to ensure that a significant return on investment is secured.

FOR MORE INFORMATION ON THE BUSINESS BANKING TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TRAINING TODAY.

March 16, 2020
How to teach your new hires in banking about your business infrastructure
The infrastructure of a banking business is something that will have been changed, developed and perfected over several years. From longstanding blue-chip organisations to challenger banks that are beginning to disrupt the industry, infrastructure will always be a priority.

From facilities to specific services and the culture and values set by founding members, the infrastructure of a bank will ultimately contribute to its success or downfall. As a result, it is crucial that every single employee across the business is aware of how operations and processes work.

To achieve a company-wide sense of awareness, there needs to be a focus on ensuring that any graduates and new hires are familiar with the several infrastructure divisions within the business in order to allow them to make well-informed decisions and develop their commercial skillsets.

The importance of immersing new hires within the infrastructure of a bank

There are so many market developments and disruptions affecting banks and their employees in the modern-day, and this has contributed to the development of new and improved infrastructures worldwide.

From regulatory pressures to open banking and audit activity, the average banking employee needs to prioritise a completely different set of values and skills compared to say, ten years ago.

With this in mind, it is near-impossible to expect a new hire to fully integrate themselves with how the bank operates in every sense without the appropriate support and development. While they may be qualified to carry out their role(s), they will struggle to adapt to the specific needs of the business without the right guidance.

As a consequence of this, a bank may find itself with a group of talented employees who are unable to grasp the concept of specific infrastructure divisions within the business, ultimately hindering continuity in several areas and creating a negative environment among new hires.

MDA Training’s approach to onboarding for banking infrastructure divisions

When it comes to onboarding and developing the skills of new hires in banking, we believe that experiential training is key. In allowing employees to actively engage with tasks and activities related to the infrastructure divisions within the business, they are more likely to embed, retain and sustain learning in the workplace.

This way, employees are encouraged to develop relevant and practical skills and insights that they will be able to apply right from the beginning of their careers.

We have identified seven key features that should be focused on in order to develop knowledge of infrastructures. These are:
- Banking strategy
- Onboarding clients
- Delivering client service
- Measuring and managing risk
- Forensic audit activity
- Client communication surveillance
- Dealing with code of conduct breaches.
All of these features combined will provide an entire host of new hires with the commercial skills capabilities they need to progress and work in line with the values and standards set out by the bank.

It inherently makes sense that the business infrastructure of a bank, which is one of the fundamental elements of the company, is put forward as a crucial element of the development of new employees at all levels.

While the majority of new hires will be eager and willing to learn how their new business operates and ultimately succeeds, their integration into the company can be improved at every stage with the right onboarding solution.

FOR MORE INFORMATION ON THE ONBOARDING PROGRAMMES AND COMMERCIAL BANKING SIMULATIONS WE PROVIDE FOR THE BANKING SECTOR, CONTACT MDA TRAINING TODAY.
March 12, 2020
Assessing operational risks in banks throughout 2024 and beyond

Risk management in banking has never been more complex than it is today. The past decade brought with it a global financial crisis, banking scandals, technological advancements, and much more. All of this has contributed to tightened regulations and increased compliance on a worldwide scale.

The operational risks that banks have to juggle are as relevant as ever before in 2024, and it’s important to know exactly what these are so that your bank can take steps to prepare employees to deal with them, thus avoiding the costly pitfalls that it could be so easy to fall into.

So, what exactly are the biggest operational risks banks are facing in 2024?

Cybersecurity

While most banks already consider cybersecurity an absolute priority, it is important to remain vigilant and on the front foot as this threat will only increase and become more and more difficult to fend off as technology continues to develop.

This is especially relevant when we consider the fact that banks now store more data than ever before about their customers.

An example of how important this issue is can be seen in a report issued by Deloitte that revealed that “…financial services institutions on average spend 10.1 per cent of their IT budget on cybersecurity. Yet, the number of data breaches in the first six months of 2019 increased by 54 per cent over the same period in 2018.”

In light of this, it is crucial that banks take necessary steps to ensure that their leaders and employees have training programmes in place that can help them to identify and combat the operational risks associated with cybersecurity, such as hacking, employee errors and GDPR breaches.

Increased regulation

Following the 2008 financial crisis, regulations were put in place by governments across the globe to prevent it from happening again. Public tolerance for banking failures also fell dramatically and mistrust rose, which put pressure on the authorities to implement a fresh wave of strict regulations.

The problem that this poses for banking employees is that the sheer speed and volume at which new regulations are being introduced can be difficult to keep up with, especially when placed alongside their day to day responsibilities. This increases the risk of banks operating outside of regulations as well as having a workforce that feels confused about what regulations they need to adhere to.

The answer to this is to ensure that individuals are adequately trained in the latest banking regulations, and have an understanding of how these regulations affect wider operations. This will equip employees not only with the information that they need but also the confidence to make key decisions quickly and without delays that could prove costly in the long run.

Advancing technology

The onward march of technology has always affected banks as well as the operational risks that they have been faced with. This is more true than ever in 2024, as banks are exposed more and more to technological advancements such as big data, machine learning and online banking apps.

While technical advancements in the banking sector such as these are helping banks to reduce their costs, increase profits, and provide a more seamless customer experience; there are also new operational risks that come hand in hand with these changes – such as data privacy and protection.

By training staff on an ongoing basis about the operational risks that go alongside with new technology that is being implemented, banks can ensure that individuals have a thorough understanding of the challenges that these technologies represent. This, in turn, lowers the risk of any issues arising that could put the bank in legal trouble or cost a large amount of money to rectify.

In conclusion

The rise in operational risks that we are seeing in 2024, and in the future, are making it more important than ever that banks ensure that their staff have up-to-date knowledge by utilising training courses that can prepare them to manage risk within their roles.

Here at MDA Training, we offer industry-leading training programmes for the banking sector that are specifically designed to help individuals to retain information, and apply the information that they learn in real-life situations related to operational risks.

FOR MORE INFORMATION ON THE RISK TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TRAINING TODAY.

March 12, 2020
Easter Eggs are broken

The coronavirus measures are moving quickly. Travel bans in Italy, and the US is refusing to accept European travellers. It will not be too long before Spain and Germany introduce similar measures.

In light of the Pandemic declaration nobody can complain about such measures, but there will be a price to pay.

The travel bans will coincide with the Easter holiday. This is the time of year when many holiday makers and businesses come out of their winter hibernation period. The schools are on holiday and it is the first opportunity for families to take a week-long vacation.

Catch some late winter snow and go skiing, or some early spring sun and go sun-bathing. Both of these options will be off the agenda if bans are in place across Europe.

Of course, not all families will go overseas. Many will remain in the UK or their own country and go to holiday or caravan park. Rent a cottage in the country or do a city break and see the sights. There are conflicting figures on how much the UK spends at Easter.

The figures range from £1.5bn in the shops to £13bn which includes holidays, trips and all shopping. Do not forget that many of our European neighbours will come to the UK over Easter.

For many garden centres and DIY stores Easter is critical. It generates firm cash flows which will support the business throughout the rest of the financial year.

If Easter is poor, then these businesses will struggle to get ahead for the rest of the year. Hotels and guest house, holiday parks and wildlife centres that have been closed throughout winter, Easter is the first opportunity to generate positive cash flow.

I have not ignored but will not dwell upon airlines, hotels, restaurants and tourist attractions. The measures that the UK government introduced yesterday to support UK business will be critical to the continued survival of many SMEs, particularly if the country closes down for two to three weeks.

The critical part of the financial support package is working out how to get the cash from the Chancellor’s red box into the hands of cash strapped business owners. Nonetheless the measures are both welcome and necessary.

Similar measures will be required across Europe. How will business survive in Italy? How many UK holiday makers normally take a break in Spain at Easter? The financial crisis of 2008 threatened the very existence of many of our domestic banks.

The financial crisis that will impact on many SMEs are a result of country shut down at a critical time of year will require just as effective support mechanisms as were used throughout the financial crisis.

March 12, 2020
Coronavirus Budget 2024: Extraordinary times call for extraordinary measures

Even before Rishi Sunak delivered the “Coronavirus Budget 2024” – his first budget as Chancellor of The Exchequer – we already had a set of extraordinary circumstances.

His appointment as Chancellor following the resignation of Sajid Javid on 13th February 2024 was one of those. Javid resigned after Boris Johnson’s cabinet reshuffle. He had rejected the Prime Minister’s order to fire his team of aides, saying “no self-respecting minister” could accept such a condition.

Less than a month later, on 11th March 2024, the Government (and the world) have Coronavirus as its most pressing matter. On the day Javid resigned, the FTSE 100 Index stood at 7,452. A few weeks later it is at 5,932, with billions of pounds being wiped off the value of the 100 largest listed companies. UK economic growth has also unsurprisingly been revised down as a result of the virus outbreak.

The Bank of England made its move just a few hours before the Government did, slashing interest rates from 0.75% to 0.25%, with borrowing costs back down to the lowest level in history. Governor Mark Carney and the policymakers have done so to encourage people to spend in the coming months.

While the Bank of England has used its main monetary policy tool, the UK Government flexed its fiscal muscle by setting policies around spending and taxation in the 2024 budget.

Coronavirus Budget 2024 – Policies

· “Government measures amount to £7bn in support for the self-employed, businesses and vulnerable people.” £5bn emergency response fund for NHS and public services.

· Loans available to help small and medium-sized businesses. Business rates abolished for retail, leisure or hospitality business with a rateable value below £51,000.

· A £500m hardship fund for vulnerable people.

· Statutory sick pay: Available to those advised to self-isolate – even if they haven’t yet presented with symptoms. More help for self-employed or those in gig economy.

· The cost of providing Statutory Sick Pay to any employee off work due to coronavirus will, for up to 14 days, be met by the government in full.

· NHS will get the resources it requires “whatever it needs, whatever it costs”.

Both Mark Carney and Rishi Sunak caveated their forecasts with the potential impact of Coronavirus. What is certain is that there is no certainty in the coming weeks and months. Extraordinary times and extraordinary measures may be set to continue.

March 11, 2020
How business banking training can help to achieve back office excellence
The current state of the banking sector lends itself towards the development of open banking, the importance of client-centric relationships and the rise of innovation and in light of several external factors, including Brexit and increased regulatory pressures.

As this transition from the traditional banking structure and culture continues to take place, it is only natural that even the biggest corporations are doing their utmost to engage with their consumers and ensure business continuity.

One thing that must not be neglected or ignored, however, is ensuring that those responsible for operations in the back office are adequately prepared to carry out their roles. This is not only in light of transitions in the broader sector but also to match the standards set by the business in the first place.

So, how can banks achieve what we would call ‘back office excellence’, and why should they?

What is the back office within a bank?

The back office of a bank refers to the employees that are not in client-facing positions who are responsible for processes and systems that ensure that the business is running as smoothly as possible.

Often considered less glamorous than a position that includes meeting and engaging with clients to build relationships long term, a role in the back office should not be considered any less important. The back office essentially forms the lifeblood of any business, and any company would inherently fail without it.

As the banking sector becomes more synonymous with automation on a global scale, and tasks such as reporting and workflow approvals are more commonly carried out using software and AI, there are still employees across an entire hierarchy who need to oversee these operations and carry out the tasks that machines simply cannot.

How back office excellence can be achieved with business banking training

With so many operational factors and employees to account for, it is critical that business banking training programmes are being utilised in order to prepare and train people at all levels to perform at their best.

In particular, business banking training courses should focus on:
- Highlighting the importance of the back office
- Making employees aware of the organisational structure within the bank
- The risk culture and leadership standards at the business.
If employees are given the right tools and programmes to be able to achieve back office excellence, regardless of whether it focuses on products or services, quality control, data or anything to do with the future of operations, they will more likely succeed in integrating and aligning their processes with what is trying to be achieved at the front office.

MDA Training’s approach to achieving back office excellence in banking

Here at MDA Training, we believe in learning by doing. That is why our programmes are delivered through a range of bespoke, experiential methods, which serve to embed and sustain learning back in the workplace.

We take the time to understand the organisational structure and divisions within a bank and formulate a training solution to suit specific needs. In regards to back office excellence, our programmes are designed to ensure that those responsible for maintaining operations can make relevant commercial decisions to impact the business.

Whether it is digital learning solutions, commercial banking simulations or perceptual thinking, we are able to create a bespoke programme.

The imminent changes that the banking sector is facing will continue to affect the industry more than ever before. Despite this, businesses can still ensure that their operations are running as smoothly and as competitive as possible through the right business banking training solution.

Particularly in the back office, which forms the basis of how the bank operates and will continue to operate for the foreseeable future, ensuring that employees are working at optimum levels can inherently be the difference between success and failure.

FOR MORE INFORMATION ON THE BUSINESS BANKING TRAINING PROGRAMMES WE PROVIDE, CONTACT MDA TRAINING TODAY.
March 11, 2020
First round of medicine is on its way

For more than several days we have been calling out for help for the SME community. All the focus so far has been on protecting our general population. This morning we have received our first dose of medicine from the Bank of England.

The Bank of England has reduced base rates to 0.25% and cut the special capital buffer that banks need to maintain. The special capital buffer helps to protect the bank shareholders and depositors should borrowers get into difficulty and not be able to repay. All of this is very good news; the high street banks have the arsenal to support SMEs.

We should not forget however that the high street banks have come through a very difficult decade since 2008/9. The have had to rebuild both their business and balance sheets. Part of that rebuilding process was to re-examine their lending behaviour. Prior to 2008 credit was cheap and readily available. We will not go over old ground again, but this approach cost the banks dear.

During the rebuilding process banks looked at their lending criteria and refocused on the key elements of business sustainability and affordability. In other words, does the borrower have a sustainable future and be able to generate sufficient cash to repay any debt. Sensible policies which have resulted in credit being less freely available and only the stronger business being able to borrow.

Now for the quandary. High st banks have refocused on business with sustainable business models and robust cash flows. Due to the continued impact of Coronavirus many SMEs face an uncertain future with little cash coming into the business in the short term. Instinctively, these are businesses that the High St find it difficult to support because of the uncertainty surrounding future cash flows. But if SMEs do not receive bank support, they will have no future at all.

It will require a bit of a leap of faith. The High St banks need to look beyond the current epidemic. When the outbreak is under control will the economy return to something looking more like normal? Will the SMEs once again be able to generate cash and repay the extended facilities? There are no certainties as we are all looking into to the future and wondering what it will hold. Without the SME community our economy and employment levels will struggle. In this current crisis the banks are part of the solution. We need to hope that the banks can modify their lending criteria and step forward and deliver the second dose of medicine to the SME community.

March 11, 2020