An unprecedented situation calls for an unprecedented reaction. - EO London acted quickly in response to the UK Prime Minister’s call to build consensus from business in its response to the COVID-19 pandemic. Along with YPO, United Nations Global Compact, IoD ,Confederation of British Industry (CBI), among others, it has established the Business Action Council (BAC) – a coalition that will streamline the voices of more than 500,000 businesses across every sector and region within the United Kingdom.
EO’s small team lead by Strategic Partnership Chair James Burchell, has helped the BAC develop well-evidenced policy proposals which have been submitted to Government that balance the competing demands of the wide range of businesses represented. EO is the only organisation that has representation on all 6 working groups. It’s been commended a number of times for its valuable input. EO’s forum format was included in our recommendations to BEIS on new peer support initiatives.
Not only has this meant, as an organisation, we are representing the views of our members to Government, but it’s raised our visibility among a well-respected group of organisations for whom we were probably not on the radar.
BAC’s aim is to provide advice to activities that protect business resilience and restore confidence with the aim of getting the UK Back in Business.
The below lists all six working groups and more are being added:
- Future of Finance: Providing assessment of the immediate impact on entrepreneurial businesses of COVID-19, and available remedies; assessment of the role finance will play in a post-COVID-19 ecosystem for such businesses; and strategic solutions in support of our entrepreneurs and their businesses in the medium to longer term
- Employee Retention: Fine-tuning the government’s furlough scheme with the aim of protecting employment and enabling employees to return to work safely.
- Peer support: Providing solutions for how entrepreneurs pool experience to support one another through the COVID crisis and beyond.
- SME Tax: Creating a tax framework that puts SMEs at the heart of the recovery.
- Supporting High Growth Start Ups: Applying international best practice in supporting the early stages businesses that will play a leading role in the recovery to the UK context.
- Real Estate Reform: Protecting landlords, tenants and construction firms throughout business disruption and help them safely exit the lockdown.
EO London’s involvement continues on a weekly basis as we react quickly to offer opinion of the daily ministerial briefings. Looking forward we’ll be offering input to three key areas:
- Getting back to work during quarantine, and judging the impact of track and tracing and social distancing in the workplace
- Purpose lead business
- Levelling up the country’s infrastructure to cope as we come out of furlough
EO’s BAC group has encouraged and welcomed feedback on how these issues affect members. We also welcome introductions to key scientist, academics and trade unions who will be able to help support thinking and the buy in of initiatives as the situation evolves.
The lifespan of the BAC and its working groups will be determined by the progress made on addressing the policy requirements. The BAC is chaired by Maurice Ostro OBE.
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