Fighting Back Against The Coronavirus Crisis with Simon Soar
27 Mar 2020 · 26 min
Simon Soar, CEO of the Jersey Hospitality Association, talks through how the island's 750 hospitality businesses are adapting to COVID-19. With five confirmed cases at the time of recording, he outlines what hotels and restaurants can do now: redeploy staff to retail, launch home-delivery catering, offer rooms to healthcare workers, and negotiate with banks and landlords to survive the crisis.
Questions this episode answers
March 17, 2020.
Just over 200 businesses, spanning just over 250 venues.
Five cases tested positive.
June (predicted peak).
Population just over 100,000; approximately 750,000 visitors per year.
Chapters
Foreign.
Podcast. This is season eight, episode one, and since we last spoke, a lot has happened. Number one, I am the proud owner of the Shorties Award. Thank you to everybody that voted Best use of social media. It meant a lot. We had over 570, 60 votes just coming in, one of the the most voted for categories, which is all thanks to you. Since we've last spoke, there's also been something not so positive. The coronavirus has taken over the world. Something that started in just China back in January of 2020, has now spread globally and is now affecting our industry, the hospitality industry. There has been a lot of scaremongering, there's been a lot of social media, there's. There's been a lot of negativity. So what I wanted to do, and I'm dedicating season eight to this, is I want to fight back, I want to help you fight back and I want to help everybody in the world of hospitality be proactive. There's something that you're going to hear me say a lot about coming weeks and months is proactive over reactive. What do I mean by this? Well, I believe that hospitality owners, business owners in general have just been stuck in the reactive mode, waiting for bookings to come in, waiting for that email or waiting for that phone to ping to say there's been a new booking. I want everybody to start looking for booking, start being thinking creativity and also as well, just doing things that they wouldn't normally do. Those of you that will will get through, those of you that just bury your head in the sand and it's a term you're going to hear a lot in episode one. If you bury your head in the sand and your business will disappear, there will be no business to come to when we get through the other end of this. So what I'm going to do in season eight is I'm going to look after everybody that wants to be proactive. I'm going to be sharing tips and advice daily on my WhatsApp group chat. If you want to be part of it, it's boostly.co.uk Daily Boost, go to the WhatsApp group channel. Daily tips in there, go to boostly.co.uk Five Steps. You can sign up to the email list. There's going to be weekly advice sent to you and obviously the social media, it's Ostly uk. This episode I am chatting to Simon. So now Simon is based in Jersey. He is part of their COBRA team that is helping the hospitality industry, that's helping the industry get back. He's fighting this on the front line on a daily basis. Simon talks about containment, he talks about busting myths, he's talking about opportunities that are going to arise on the back of this and he's going to give you some bad news, but he's also going to share some good news. And for those of you that watch this live, this was a live stream on my Facebook then. I know that it helped a lot of people. Right now you're probably watching this back on the replay and if you are watching it back on the replay and it's something that you need, then go in and delve into it because there's some tactics and tips that you can be doing. So whether you are watching this on March 17, when this was recorded, or whether you're watching this in April or May or June or July or whenever you are tuning in on, there's some tactical, practical tactics and tips that you can put into practice right now, but I want for you to check out. So without further ado, let's hand over to Simon Sor and my interview, my enlightening interview with, with Simon Soar from the Jersey Hospitality Association.
Thanks, Mark. Evening all. My name's Simon Sor. I'm the chief executive for Jersey Hospitality association, currently representing just over 200 hospitality businesses in Jersey, spanning just over 250 venues. Currently we're working very closely with government with a number of different bodies within government. I'm sitting with the Business liaison primarily, which is working with members of the Emergencies Council, the equivalent of COBRA and uk, along with various other people, part of the economic development and finance departments of government, to try and find solutions and abilities for us to get through what is certainly a rainy day right now, I think would be the polite way of putting it.
For anybody who's watching this in the world who doesn't know where Jersey is in relation to the uk. Could you sort of paint a little bit of a picture of how it is and how your, your island and your government works compared to sort of the UK right now?
Okay, so we, we are a crown dependency. We sit under the Queen, but we have our own government over here. We're based just off the, the north coast of France. We're an island that's nine miles by five with a population of just over 100,000 people. Very, very good tourist scene. We have three quarters of a million people visit the island every year. We've had a very healthy tourist scene for a long time.
So let's just go over where you are right now as in the meetings that you're having on a pretty much daily or weekly basis with your cobra, COBRA group, what is the current message that is being passed down that you are then giving onto your members?
Of course, I think what was quite interesting, we were meeting, getting together before we had our first case. We're now on five cases tested positive in Jersey. The group meet. I've had one meeting earlier this week, I've got another meeting on Friday. There's a number of different groups that are feeding into this and we feed into. There's about three or four in this group who are part of the Emergencies Council. We provide the business liaison into that, which they can then take forward, bring to the Treasury Minister, bring to the Social Security minister, et cetera, et cetera, to make sure they can understand the support that's required in our island. We're currently quite fortunate to sit a little bit further behind the curve of where UK is, but we're very fortunate. We've had both a strategic and tactical coordination group who've been going for about nine weeks now, which is longer than quite a few of the others have in different jurisdictions. This has meant that we've been able to plan and prepare in several different ways. The stuff we're doing right now, and I think that's what's quite relevant to what we're going to talk about today, is looking at, in particular business continuity. It's looking at how we can protect the island's economy. I think it's quite clear that we're seeing one of the biggest downturns in the economy globally than we've seen probably since World War II. This is a massive impact for a lot of businesses and our key point at the moment is how we can, number one, protect low levels of unemployment, which we know are going to take a big impact. But number two, try and get as many businesses through this key stage because.
Obviously, like I say, you're on the front line with this, you're dealing with it on a daily basis. There's cases that are there. You're talking to high level people about this. Let's just go over a couple of the myths that you want to share because we chatted about this off air and I think this is really important. Yeah, when you're ready, just, just, just.
Go for them talking about the myths. So we've got a number of things. Number one, I think it's understanding about coronavirus. A number of health experts will come out. I would advise people to be careful about what they read on social media. One of the things we've seen a lot of people very concerned about Italy and the differences Italy have had compared to other places in the world. It should be noted Italy have one of the oldest demographics and the biggest elderly population out there. It's why they've seen such a big impact. They also have multiple generation homes, which means that the elderly are very much in contact with people who could be carrying and not presenting symptoms. That's quite a key point. There's thought that anything up to 70% of people who have this will display such mild symptoms, you may not be aware you have it. I think we were saying before, you know, it can be as light as feeling like you've got a mild hangover. It's a really concerning time because that's not being tested and to a certain extent dangerous to start testing everyone. There's no need with what the level of impact is of this. At the moment, the biggest part people are looking at is containment. We do need to slow spread the basic principle. And what we're looking at is something called herd immunisation. We need as many people to get this as possible, but done in a way that this is dripped through, so it's not an impact on the health system. The majority of the population will be young and healthy and able to cope with this quite easily. The trick is to isolate those who are vulnerable, who are elderly, who may be a lot more susceptible to this, protect them while the rest of us go through. Anyone who does have a few more symptoms and problems can then be dealt with in a way that is controlled. Once people have dealt with, once people have had it, once people are through it, it's then a lot easier to control what happens with the rest. So we do have to get the majority of people through this. It's why we're. I think that the principle they call it is flattening the curve. If you can imagine a curve like that, if it happened really quickly, it'd be quite tight. The volume here is everyone getting the virus. There's a point where healthcare can't cope. So what they do is they extend the period, it's done by. They flatten the curve down to allow it to become much more manageable. This takes time and they have to implement different measures at different times. If the curve is going up too quickly, you have to isolate more and more people to try and slow it down. If the curve is taking its time, you can allow more social interaction to speed it up. We're quite fortunate at the moment where we're very behind the curve, we've taken it nice and easily. So one of the common problems we have over here is people saying around the rest of the world, they're doing this, they're doing that. It is very, very much about jurisdiction to jurisdiction and how they're monitoring it happening in that place at that time. I think that covers quite a bit.
Of it there on Jersey itself, obviously the UK, as of today's recording, which is the 17th of November, the UK are not doing a lockdown like I live in Spain. The country that I live in is on a lockdown, hence why we've not gone back to Spain as we're seeing other countries now enforcing what's the current state in Jersey. Do you follow the same instructions as the UK on this or you've got different methods and tactics that you're sort of putting into pract.
So we're very much dictating our own governorship here right now. We're not locked down, we're not encouraging people not to. Well, we're not encouraging social isolation, we're recommending social distancing for over 65s and those who are vulnerable. A lot of businesses are putting in continuity measures such as rotating staff, working at home or going into work to make sure there's crossovers that they avoid crossovers to at least retain half the working the workforce at any time. We've got central travel only has been requested and again it's requested and anyone coming from certain countries that have been mentioned by the FCO are requested to go into self isolation for 14 days. Finally, if you're presenting certain symptoms, you can self isolate for seven days as well.
We've gone through where Jersey is, we've gone through where you are now. I think even though we're talking different governance and things like. So this is a worldwide podcast right now. There's still going to be a phase specifically in the tourism and the hospitality world of containment. And what I really want to go through here is sort of pick your brains on where you see the issues that are going to arise over the course of the next weeks, months and maybe even years on this and what specifically you're seeing businesses do and sort of the recommendations and again, just anything that you can share on this because there are going to be so many small to medium business owners that are watching this from the world of hospitality, just thinking, what next? What can we do? So anything you can share on that would be much appreciated.
I'm going to start by basing most of this fact on what's happening in Jersey at the moment. It's fairly similar to UK when we're talking about peaks, et cetera and timescale on this. So I'm going to use ours because that's the system I'm used to. Right now we're looking at June being the peak. That's what's being predicted, which is a scary prospect because it means we're not going to be passing the peak to. We're moving right into the middle of the summer period. I'm going to talk very clearly about hospitality now because this is at the end of the day while we're here, why we're here, Hospitality businesses, if they are seasonal based, which I know most of us will be affected by seasonality, some have a better winter basin and a shoulder month base. But if you are summer base and you make all your money, you want to liken it to a camel. If you fill your hump during summer to weather the drought during winter, this is going to be a 12 month issue for you. And I think we need to be very clear about the sort of timescale we're looking at on this. If you can survive off any drip feed all year round, this you're looking at probably a six month issue to get back to where you want to be. I think we have to look at, you know, we're going to go through this very tough period as we're coming out providers, certain steps are taken. You can make sure you can weather through to that position. There will be an opportunity to look at things like marketing, look at how you can bring people back in. I think the first point and the one that's going to be a concern to most people is how we get from now to the other side of that curve. I know there's going to be a lot of concerned people. I'm watching some of the comments coming into this. It's quite clear to see there are a few people who are very concerned about the reality of what this is.
Let's go into opportunities because this whole podcast, this whole series that I'm planning on this, talking about what we can do is all about proactive overreactive. So it's all going to be about proactive steps that we can take and not being reactive because if there is anything that we can guarantee that is going to happen over the course of the next weeks and months is that there are going to be quiet times compared to other peak seasons. And you know, we're talking northern hemisphere here, peak seasons when you're running around like blue Ass flies. And you've got zero time to even think about marketing. You are going to have that time. And I think that it's really key to stress at this point. Everybody that's watching or tuning in, whether it's live or on the replay, is that you've got two options right now. Number one is you can procrastinate and you can waste all of your time on social media bitching and whinging and whining about this, or you can be proactive and you can save your business. So what I want to do for the final part of this podcast and the final part of this interview is I want to be sharing opportunity that you're seeing that could be arising from this, from what you're seeing in Jersey and also as well see if you can pass them on. Because I think we spoke about this and there are definitely some really big key parts that everybody tuning in from can be doing. So let's just list these off. Simon, if you can. If you go with a couple of the opportunities that you're seeing that are potentially arising on the back of this.
Crisis, I think people need to start taking a very realistic look. As I said, we know the sort of timescale we're talking about. If you've got a business where it's just yourselves, skip to the opportunities because there are going to be plenty there. If you have a number of staff, if you are looking at ways that you can cover off rent, etc, etc, if you have multiple staff in particular, we need to take some very, very realistic lookings at what we're doing here. If you have multiple staff, can you afford to keep them on? If you've got no business coming in, if you've got some liquid asset and you can afford to ride that storm, bearing in mind that unemployment is going to be shooting up after this, holding on to good quality staff is always going to be a key part of your business. I'd highly recommend trying to find a way it may be. And some of the opportunities we've been looking at here are seconding off staff into other industries such as wholesale and retail. Retail in particular. You'll have seen people seeing a massive increase in shopping etc at the moment. We've had one of my supermarkets over here fed back that last week was busier than their biggest week at Christmas by a significant amount, over 30% again, which is a monumental figure at this time year, especially when they don't have the additional staff brought in to support that period. There are opportunities to find ways to keep your staff by pushing them into other places. If you have, say there will be a few businesses out there with a good staff base, it may be worth at this stage having a conversation. If they are all on full time contracts, 40 hours, etc. If you sit them down together, present your business, plan forward, explain that you'd like to keep them all on, but like to look at possibly reducing everyone's hours by X amount. It could be 10 hours a person for a limited period, but the idea is you can keep them all on. I think that's absolutely key right now. Staff retention is a very big part and I'm sure a lot of you are concerned. In particular, if these are staff that work for you, you can't say how much this means to a lot of my members where they're talking about people who work for them for years and the fact that very shortly they may not be able to keep them on. So if there are ways to do it, do keep going. One extreme, if your business is paid for outright, if you do this and you have a bit of liquid asset in the bank, can you afford to close completely and reopen in six months or a year's time when things have settled down and you can look at pulling back in that way, you're cutting overheads, you're reducing yourself down right to the basis there are opportunities out there. If you're paying rent, if you've got a mortgage, you can get holidays on these which may allow you to push through, keep staff a little bit longer and allow you to continue to that extent. I think business continuity at this stage is absolutely imperative. We've seen that Boris has just announced the different steps to allow businesses to be able to claim insurance. Absolutely phenomenal right now. Business interruption is massive thing you guys will be dealing with. And if you can get through that period, cannot stress enough how important it is that you try and find ways just to see yourself through. Before we even look at opportunities of what you can do next, have a sit down with your bank manager, sit down with your mortgage advisor. If you've got a landlord, have a sit down with your landlord and find a way that you can get through this collectively. This is a team effort. This isn't just hospitality, this isn't just your business, this isn't just your county, this is globally and this is about how's the whole world we get through this crisis together. Depressing bit aside, let's try and think laterally. So the big thing I'm talking to my members about right now, let's Be creative. I will use an example. I've had some outside caterers come to me, very successful outside caterers over here, a lot of small private parties, high end private parties. Everything has disappeared. I mean they've gone from, you know, lived off this for a while to they haven't got a single booking left and they all disappeared overnight. What do they do? They've become creative and said right, people are self isolating. We've got the ability to create food. Normally we're crazy on this level, absolute high top end. What we're going to do is look at creating family based food that can be delivered for up to 4 people etc per meal. But there are people out there who are concerned about making meals or getting fed or they're arranging that it can be home delivered up to five meals at a time or five days worth at a time and they're providing relief and they've suddenly got enough. It's nowhere near the money they're making before but they're able to survive this period. So they're thinking creatively. We'll talk about self catering properties because I think that's quite an interesting opportunity. If people are self isolating, if people aren't able to go out and socialize in their normal elements, in particular if they've got kids, I'm sure there's a lot of us who can sympathise with this. There is nothing worse than trying to be stuck at home with youngsters who are literally climbing the wall and you're close to shooting. My advice is why not embrace and go and see a self catering property from your side. Okay? You may have to do a deep clean. If these people are in self isolation, it is not the end of the world. If you read about what kills corona COVID 19 is a very fatty based virus. You just need to get some hot soapy water, anything like that. Even anti BAC does work on it really well. So let's focus on saying, right, get these people in, they can get away, they're self isolating. You can even arrange that you can get food delivered to them. Whatever it happens to be, be creative with this. If you're out in the countryside, you're giving people an opportunity to get away from it all, have a holiday, not needing to mingle with people and let the kids actually burn off some energy before you climb the walls yourself. For those who maybe aren't, maybe have a small bed and breakfast store, small hotel, anything like that. Look at what's happening with local health care. If it's with the local hospitals, if it's local care homes, anything like that, nursing homes in particular, number one, if they have an outbreak, do they need to put either the people who are contained, contaminated or possibly contaminated into some place they can be isolated? Are you prepared to take that risk and happily take it? Unless you have underlying health conditions, you're not really overly at risk with this. If there's an opportunity to fill your bed and breakfast or your guest house, whatever it is, with either workers or people who might be staying there with a worker, is this an opportunity to look at? If you live near a hospital or care home and they need places for staff so they're not going back and mingling with their families for a bit, could you offer that service forward? You need to start thinking very openly, very creatively. There are new requirements out on the market, there are new needs. If you think very carefully, you can try and service these needs in a very unusual way. As I said at this time, bury your head in the sand by all means, you're not going to be here in six months. If you can go out there and start thinking, right, what are the demands on the market? What do people need and where can I fulfill that? Again, it's about that creative thinking and working with each other. If you've got people who want to self isolate and maybe live in a multi generation house and don't want to have to contaminate the rest of the house, are they looking for other places? Alternatively, if you've got a house that's contaminated and someone coming back with wants to stay away from them, can you offer a space for them to isolate as well? On the other side, if there are vulnerable people, and again this goes on the other side and says they won't have been infected, but they need somewhere that's completely closed off, could you provide a venue where you get your food delivered, your staff, if it's just you do not leave the premises, you provide three meals a day and they are safe on your site with zero, you know it's complete self isolation but you're helping provide meals for them. There are these opportunities out there. I really think this is an opportunity for us to unite and show some great creative thinking. And I suppose the final thing I'd add, if you're really struggling, I'm suggesting we all create a quarantini and it's got to be the best way to get through is just drink quarantinis for the rest of our time.
I think that's going to be a drink that is going to be readily available very, very soon. But I think let's just unpack a couple of things that that Simon was saying that again, being creative with your thinking is absolutely key here. Number one, look at where opportunities arise. So for example, if anybody is based near a hospital, for example, or a care home now, they've got staff that are on there and they want to make sure that the people that aren't infected are well looked after. So it could be just a phone call in to the care home, it could be a phone call into the hospital, it could be a contact that you have that works there or as a member of staff there, just as something to put out in the staff room, bar, wherever and just say like, listen, we are 5 minute walk away from the hospital, from the care home. We've got self contained units, we've got X, Y or Z. And again, your unique selling point, whether you like it or not, is going to change just drastically in 2020. You're not going to be talking about your comfy beds, you're not talking about your wonderful views, you're going to be talking about cleanliness, you're going to be talking about wi fi speeds. You focus in on the things that people are really looking for in these times. It's just the way that it is. So you've got to be creative in how you're doing this and you've got to think about how you're portraying your property. And again, I'm going to be doing another live video of this with other practical tips that everybody can be doing. But one of the key things that I'd be saying right now is looking at your listing websites, look at everywhere where your business is present online, social media, your website and the OTAs that you're listed on. Look at the first five pictures and you're gonna have to readdress how it is presented. The third or the second picture in is gonna have to be a picture of maybe toilet rolls, it's gonna have to be a picture of hand sanitizers. Whatever you've got, whatever is your USP just to show that is a deep clean and just talk about the cleaning process. That is just the way that it is now. And you're gonna have to address that. And again, there's definitely some creative, creative thinking that is going to need to go on now. We're not going to talk about finance options, we're not going to talk about loans and insurance because that's not what this is about. There are fantastic resources that you can go to and I will try and get links to those in the show notes in the comments in the post. Wherever you're reading this, you can go in and do that. I think the advice that I think I would give and Simon would give is just go and speak to your bank manager. Go and speak to the people that you're borrowing money from. Those are the people that should be your first point of call. And then for everything else, you know you've got some fantastic resources that you could definitely go out there. Simon, just whilst you've had a chance to have a little break there, is there any more opportunities that bring to mind anything that you want to maybe touch on that you've not done so far? I think that home delivery is a fantastic option for any restaurants out there, any places that provide food as well as accommodation. But is there anything else that you can think.
There are various options depending where you are. You may well have a local marketing agency. I know places like Visit Hearts and etc etc different areas around UK and wherever you may be that can offer these. Yes, they're primarily external rather than internal companies but they will have an internal following. Get on local Facebook pages, get on everything. You've got to understand people are going to be sat at home climbing the walls, searching for an escape. Go to local, you know, find what's going to get the biggest hit. Think about your demographic as well. Don't start going to papers which are primarily going to be read by maybe some of the more elderly people out there who are looking for a paper version of media. Think of the ones you want to be getting through to. They're people who are possibly already self isolating or they're sat there working from home, they're procrastinating. You need to think again about where they would look. If you're thinking you're not going away and a lot of people have mentioned about cancelled trips away so staycations being explored. If you're not going away, where do you look? Where do you try and get that inspiration? What do you browse on Facebook, what do you look at on Twitter, Instagram, Whatever it happens to be, you need to be thinking about how to tap into those markets. It's very easy to be overwhelmed. The other point I've seen which is being raised and it was over the talking talking and I've said about having early conversations with people. I know we're not touching on finances but you will have a bank manager. If you're a business you'll have access to an account manager, something like that call them up, sit them down. These have all had briefings from the UK government about how to support industries and how to support businesses. They are open to the conversations, they're ready for the conversations. The last thing they want to do is see a business go down the pan. If you've got a good track record in a fairly good business, they're going to be looking at it very favorably on how they can support you through this tough time. It's a very frank, easy, open conversation. They have got a lot of options presented. It's not a very difficult to qualify situation. This is being pushed and pushed for people to access. So I think from my side, don't be afraid to go out there. Don't be shy, don't, whatever you do, bury your head in the sand. You don't have to be stupidly brave with things, but just try and push for a different market. You know, change your titles, if you can. On some of the OTAs, you know, it could be a breakaway in the country away from everyone. Some people might look, and that's exactly what I need, these opportunities of what people are going to be looking for. So understand the mentality behind it, understand what people fear and understand what you can provide to alleviate that fear.
There are many people that are going to be tuning into this from around the world. Like we've said, every single government and every single country has got different rules in place right now. You may be watching this and you may be in one of those countries where the government has said no travel at all. Everybody's in quarantine now. This is the most important time because Italy last week. So again, this is being recorded on 17 March. From 9 March to today's date, it recorded 70% more Internet usage because of their lockdown. This is week one and then it'll be week two, and whoever knows how long that's going to go for. But guess what they're doing. They're not sat at home just twiddling their thumbs. They're online, they're on social media. And people need something to look forward to. This is a really shit time right now for everybody. Not just for businesses, but for everybody. And people need something to look forward to. Forward to now. Like Simon says, if you just bury your head in the sand and just don't do anything, your business will fade away and no one will pay attention to it. You have got a very important time right now. You can be cutting costs in so many different avenues, but the one thing you cannot be cutting costs on in sales and marketing, you need to be spending your time, if not your money, but your time in sales and marketing. And what you need to be doing is posting daily, if not weekly updates via email to your list on social media and just spreading the message. So when those restrictions are lifted, then you are top of mind, you are the first person that they think of and most importantly, you're the first person that they call or the website that they go to to make that booking. I guarantee you that if you don't, somebody else will. So don't just say I can't do this because of this. Instead, be proactive and be in control of what you can do. And for those of you that have been proactive in the past, for those of you that have been listening to what I've been teaching and preaching for years now about being proactive, about building an email list, about not just building your house on someone else's land, don't just rely solely on these OTAs to be bringing in the bookings. You have got a massive advantage. If you've got a social media following, if you've got an email list, if you've got superfans, dedicated followers and guests already, your life's gonna be a little bit easier. If not, then you've got a trickier job. But now is the perfect time to start. Like I say, you're gonna have a lot of time on your hands. So please take full use of it. Don't just binge on Netflix or get on Disney plus and just sit there on social media whining and complaining in groups about the current situation. You're proactive. You get on with it. You will survive this. So thank you so much to everybody that's tuned in live and replay. Thank you so much to Simon. I really, really appreciate you doing this, buddy. I think a lot of people will take a lot of solace from it. If you've got any final thoughts or any final sayings you want to say, please, please, please do so now.
If I could, I'd just jump in and say, obviously I'm doing this work over here for the JO chain for Jersey, you will have a local hospitality association or I'd hope you would. If you do, please speak to them. Please use them. That's what they're here for. I cannot think of a time where we are more valuable to our membership. And that is for getting you through a time of crisis. You'll have all seen my details have been tagged in this post. If you have any questions at any stage. I'm sure I'll probably regret this. Please feel free to inbox me. I'm happy to ask. I think a few of you are already trying to contact me, looking at how it's blowing up here. I can offer advice and it's only advice based on what I'm experiencing. But I hope some of that advice will go a long way to helping you guys. I've seen a few of you talking about realizing you don't need to bury your head in the sand, being realistic. We've already seen they're predicting a GDA increase this year globally to a GDP of 3.3%. That was revised down to 1.5% very quickly. That will continue to go down. America has already dropped their bank rates by 1% down to 0%. This is unprecedented changes. We have to understand it is an unusual time. Use the opportunity to help other businesses as well if you can. Randy, we're not just on our own. Work together on this. I think that's it.
Good luck guys. I really need your help now. If you are watching this live or if you are tuning in on the replay, I need for you to do one thing and that is share this interview, this podcast episode with somebody that you know in the industry. Doesn't matter what industry is, just share it. Please do so on Facebook, LinkedIn, Twitter, Instagram, TikTok. Wherever you are watching this, please please do. If you want to go get the full show notes, they will be available boostly.co.uk podcast this is season eight. This is episode one of a season that I never thought that I would have to make. But I'm making it because I want to help everybody get proactive. We're going to get heads out the sand. We're not going to be reactive on this. We're going to be proactive on this. This is going to be the first of many episodes that we've got lined up, including very, very soon. We're going to have booking.com on one of these and we're going to be asking some pretty big questions. So thank you so much Simon. Really do appreciate and for everybody tuning in, please do me one favor. Go and rate, review and subscribe to this on the Apple podcast if you're an Apple fan. If you are on YouTube, go and subscribe. However you are tuning in, please go and do so. Please spread the word because we've got a lot of people that we need to help.
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