This Navigator Survey by HSBC asked 2,600 companies in 14 countries and territories to share their insights into the first half of 2020 and the future of business in the face of uncertainty.
A picture of challenge and change
Businesses around the world, no matter their size, are facing the greatest challenge in a generation.
Leaning on our global network and our local expertise, our research across 14 markets indicates how the COVID-19 pandemic has affected a variety of businesses and their future plans.
Our research illustrates that even amidst an unprecedented and challenging first half of 2020, businesses in the U.S. and around the world have shown tremendous resiliency – and many are looking beyond COVID-19 and to a stronger future.
- 98% of business have felt the impacts of the crisis
- 25% of businesses reported operating as normal
- 65% have been agile and stable enough to be resilient
Many also see the crisis as a catalyst for change and long-term growth. The insights in the Resilience report could help you grasp those opportunities while overcoming the challenges. Why not get ahead today?
Despite the current worldwide pandemic putting greater distance between businesses and their employees, customers, and supply chain partners, a significant majority of U.S. businesses reported becoming closer to each of the three stakeholder groups.
- More than four out of five (84%) U.S. companies felt closer to their employees
- 80% of companies felt closer to their customers
- More than three quarters (77%) reported closer relationships with their strategic and supply chain partners
The global COVID-19 pandemic has driven U.S. businesses to redefine what it means to be resilient. Becoming closer with their employees and more collaborative across the industry with their partners will help corporate leaders prepare for the ‘next normal’ operating environment.
Wyatt CROWELL, U.S. Head of Commercial Banking at HSBC
When businesses were asked about their longer term resiliency plans, key findings show that:
- Investing in technology will be critical: Investing in technology is the biggest step they plan to take in the next five years.
- The workforce is key: Focusing on the workforce tied with investing in technology as a top priority for businesses over the next five years as they expect substantial changes in the ways of working.
- Sustainability to power the recovery: Businesses agreed that the need to reassess their operations will enable them to rebuild their business on firmer environmental foundations.
For More information, visit the following site: HSBC Navigator – Resilience | The Future of Business
Compliments of HSBC – a member of the EACCNY.