Sunday, 15 May 2022
    11
    Aug

    Uncertainty and volatility rise

    The spread of the novel coronavirus (COVID-19) was described as a pandemic by the World Health Organisation in March 2020. It has further been labelled a human tragedy. One that has forced us to think and act differently.

    Maia Financial has compiled a survey for corporate and Government organisations in Australia and New Zealand to complete surrounding their current business circumstances during COVID-19. Questions covered operating models, business impact, asset management and the use of financial support measures in relation to COVID-19.

    It has collated the findings to provide insight into how organisations across a range of sectors have been impacted by COVID-19 and project the future state of play.

    The Maia Financial COVID-19 Business Impact Report covers:

    • Business Operations and Employment
    • Government Support across Australia and New Zealand
    • Revenue Impact and Relief Measures
    • Asset Investments
    • Organisational Challenges and Adapting to Change

    The insights gained from the Maia Financial COVID-19 Business Impact Survey paint a clear picture that the coronavirus pandemic has resulted in much uncertainty and volatility for
    many businesses. From the significant decrease in revenue in the second half of the 2019/2020 financial year to the widespread changes in employment for many, the true impact of this
    pandemic may not be truly known yet.

    What is clear is that the role of Governments to support businesses suffering interruption and financial loss is imperative. Whilst the primary response to the virus is to manage the
    health of the population, reducing economic and financial disruption has been treated as a priority and many businesses have been able to take advantage of the schemes offered by both
    the Australian and New Zealand Governments.

    Perhaps a silver lining is that at a time when all organisations have been forced to redirect and adjust whether it has been the way they operate, who they employ, how and where their people
    work or their product and service capability, we live in an age with access to technology as an enabler and other assets which have and will continue to aid in our ability to adapt to change.

    Download the Maia Financial COVID-19 Business Impact Report created with the needs of businesses like you in mind.

    SOURCE

    Maia Financial (Procurement Australasia)