Much needed support for the Visitor Economy Sector | January 2021

Chamber recognises that the Visitor Economy sector on the Island has been and is still severely affected by the pandemic and resulting in ongoing border closures and the cancellation of two consecutive TT Races.

Date: Tuesday 26 January 2021

Chamber recognises that the Visitor Economy sector on the Island has been and is still severely affected by the pandemic and resulting in ongoing border closures and the cancellation of two consecutive TT Races.

Those affected include not only all size and type of accommodation providers but also related businesses i.e car hire, airport parking, events businesses, food and beverage businesses and activity providers.

In order to try and assist affected businesses we have partnered with the Visit Agency and Chamber member and advisory platform mentor partner, KPMG, to offer support and guidance on a variety of areas. In order to ensure that what is delivered is fit for purpose for the sector we would like to gather more information to ascertain the issues that are impacting you so we can make arrangements to provide the most effective type of advice that will offer tangible guidance that can be utilised now and in the future.

Please can you take a few minutes to answer the questions in our survey by clicking here.

Once we have had the opportunity to collate all responses we will work with KPMG in developing some online webinars and guidance sessions. This is an outreach project for the Chamber and you do not have to be a member to participate so please feel free to share with other businesses in the sector.

In the meantime, you may find the following webinars kindly provided by KPMG useful:

The series of 'When Business as Usual becomes Unusual' covers

- liquidity
- cashflow forecasting
- financial modelling & stress testing
- contingency planning and
- business cycle vs downturn

Recordings can be found here

If there are any Directors concerned about their fiduciary duties another very useful KPMG webinar can be found here