MOORE GLOBAL SURVEY REVEALS COVID-19 IMPACT ON BUSINESS
A survey of Moore Global clients found there to be a commonality with businesses working remotely and embracing new technology across the globe. Some 42% believe the biggest impact of the Coronavirus will be changes to how staff work, while more than one-third expect to make more use of technology when the pandemic has passed.
‘It is not surprising the survey revealed that many businesses international expansion plans have been affected or put on hold,” says Graham Tyler, partner at Moore Kingston Smith. “However, around four in ten companies say they are only envisioning discretionary spending being put on hold for three months and almost the same percentage do not need or are only currently considering government support. Given this survey was done during the height of the storm, these figures are higher than we initially expected. Last month the European Central bank anticipated that the impact is likely to be more severe in the second quarter and the Bank of England last week warned of the sharpest recession on record, so it will be interesting to see how these results change in our next pulse survey.”