To emerge successfully from this period of uncertainty, organisations must look ahead to understand the potential impact of changes to the international trade system.
To consolidate short-term resilience, organisations must consider:
To plan for long-term revival, organisations must monitor:
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Darren Rigden, Partner at Crowe, said:
"Business needs to keep up-to-date with changes in international trade to assess whether they can enhance and develop pre-existing plans.
"As businesses seek additional funding to finance their operations and increased working capital requirements, forecasting and risk management analysis will speed up and add credibility to funding applications.
"For some, there will be opportunities to merge or acquire businesses at lower prices than pre-COVID, but transactional due diligence will be more vital than ever.”
Rob Marchant, Partner at Crowe, said:
“To kickstart growth, business needs governments across the world to promote global trade and investment. Reducing red tape in relation to tariffs, customs and border controls will all help to keep trade flowing.
"The UK remains one of the most attractive investment destinations. For example, in my experience, the UK brand is still held in high regard around the world. Hopefully, this can be leveraged to the benefit of the UK economy as the UK enters the next phase of its international trading arrangements."
must map out a route forward to navigate the current – and coming – social and
economic uncertainty that arises from the COVID-19 crisis.
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