Corvid and practice rentsApril 25, 2020
Downturn Graph Meaning Graphics Negative And Loss 3d Rendering
Covid will have a dramatic effect on the veterinary economy. The Lockdown will produce cashflow problems, especially for those practices without the cash assets to get through. The future may also look bleak with the UK/world economy becoming deeper into debt. The 2008 recession may seem like a single sneeze compared to the pneumonia of Covid-19. This will have a long term impact on the level of veterinary care. It will also have implications on vets wishing to either sell, start up or buy a practice. Borrowing will become more difficult with the result, corporates will have taken a hit like everyone else and be less likely to look to buy until life has settled back to whatever level we end up. Good profitable practice may still sell for fair prices but I feel that the market will be pretty static for another 12 months.
Practice owners may have look leaner and meaner to get through.