Consumer demand and behaviour biggest threats to recovery
Shrinking consumer demand and changing consumer behaviour are the biggest threats to business recovery, according to a survey.
The survey was conducted from 27-30 May with 2,718 responses, by global chief executive leadership community YPO, which sought to gain insights into the impact the COVID-19 pandemic had on businesses.
Business leaders were split when it came to easing of restrictions and re-openings with 49% having said it was right, 43% said too slow and 8% believed it was too fast.
If a second wave of COVID-19 hit, 6% said their business would be at risk of not surviving, while 72% said it would pose a moderate-to-large threat.
The majority (64%) said business outlook was more negative compared to March, although 84% felt this way during a survey in April.
Over half of companies said had received some form of government support, while 44% of those that did not said it was not required.
Business leaders in Australia/New Zealand (71%), United States (67%) and Canada (65%) were the most likely to have received government support, while South Asia (5%), Africa (24%) and Latin America (26%) were least likely.
Chief executives expected negative effects until March next year on revenue (49%), headcount (39%) and total fixed investment (39%).
AUTHOR
Chris Dastoor
Recommended for you
The Financial Services Council has appointed a new deputy chair for its board.
ASIC chair Joe Longo has told compliance professionals they need an “attitude of compliance” beyond written policies, how can AFSLs achieve this without alienating their advisers?
Peri and menopause training founder and TV journalist Shelly Horton has hit back at calls for businesses to introduce menopause leave.
Pendal has told investors it will start winding up its Enhanced Credit fund from December, its third fund closure this year.
