We are all in this together

Many leaders are turning to other channels for information, including their business and peer networks.

A survey of 500 UK business leaders conducted by global, peer-to-peer network, Entrepreneurs Organisation (EO), has revealed that only 7% have total confidence in the information they are receiving from the Government on the COVID19 pandemic. Many are going to other sources, including their business networks, business and management consultancies as well as their accountant.

For members of EO, the peer-to-peer network has been invaluable both for information sharing purposes, as well as recommendations and business collaborations. Michael Korn, the brains behind hospital screen manufacturer KwickScreen, and a long-term member of EO, has used the network to facilitate the exponential growth the brand has seen since the COVID19 pandemic broke.

Already a supplier to every NHS foundation trust and hundreds of other hospitals around the world, demand for KwickScreens has risen tenfold during the pandemic. “Our screens are being used to rapidly create new ITU capacity, improve safety, provide dedicated space for staff to put on and remove PPE and bring privacy and dignity to patients”, says KwickScreen inventor Michael Korn.

“This has included working with coaching company, Petra Coach, to ensure we as a team are aligned and aware of what our focus and priorities need to be during this period. We have also collaborated with a number of other manufacturers of medical goods within the group. It has been of incredible benefit to be a member of such a wide-reaching network.”

The survey also found that 31% of businesses have or are planning to furlough staff, and 27% will be deferring VAT or self-assessments payments to improve cash flow in this period.

Two thirds also expect their supply chain to reduce service levels compared to pre-Covid19. EO member, Ajay Mirpuri, owns a bespoke tailor based in London. To aid the efforts of PPE during COVID19, the business switched their manufacturing to create masks while tailoring business is slowing – again utilising the EO network when creating his initiative.

Ajay comments:

“We utilised the EO network to source the real deals. We are now looking at the N95 masks and sanitiser and whatever we can get our hands on AT COST. Ours is a zero-sum game for us and it’s amazing how many people have offered help, its heart warming.

We wanted to create an initiative that allows everyone to get involved knowing that 100% of the proceeds go to buying masks and handing them out to front line NHS staff. All the admin and ancillary costs are covered by my firm and we have already donated 10,000 masks ourselves.”

Similarly, Joe Kensett has used the EO network to find supplies required for his visor initiative, as well as raise funds needed to supply them. They have currently supplied 4000 masks to the NHS – an amazing achievement!

Globally, EO is offering members the information and resources that enable entrepreneurs to thrive in the midst of crisis, offering access to the educational resources, member offers, and inspiring webinars designed to help entrepreneurs through today’s unique challenges.

In a time when coming together is more important than ever, EO Chapters worldwide are putting their communities first.

• Nicolas Dasgupta, EO London member, used food from his children’s play centre, Jungle Monkeyz, that would have gone to waste during lockdown to help his neighbours in need by delivering the supplies. The chat they had with the neighbours who may have otherwise been completely isolated was just as worthwhile as the food deliver, Nicolas said.
• EO Madrid has raised 420,000 EUR through its fundraising to acquire and distribute second-hand respirators to more than 18 Spanish hospitals in ten cities.
• EO Philippines have donated masks, canned foods and cash to help not only the hospital workers being heroes in the front line, but also the lower income communities.
• EO San Diego's president was interviewed by local news about the chapter creating care packages for business owners and their families.

EO London Chapter President, John Busby, comments:

“Here at the Entrepreneurs Organisation in London, we are doing everything we can to support our members and the local entrepreneurial community. We are doing this mainly by getting experts to host webinars on both a local and global level to help our members make informed decisions.

As we can see from these excellent community minded initiatives from our members, Entrepreneurs have a unique set of tools to enable them to help the community in these times of crisis and such times when our organisation is at its best, offering peer to peer support and connections in forum style interactions.”