The New Business Norm – What changes Business Sectors in the Caribbean need to plan after COVID-19

Thursday 25th June 2020

The spread of COVID-19 is changing how we live and work in ways we would not have thought possible Today’s new normal for businesses includes work-from-home difficulties, disrupted supply chains, cash crunches, uncertain compliance obligations, and themechanics of applying for new government programs. Governments around the world have pumped trillions into their economies directly and have also cut interest rates and applied other forms of monetary stimulus. The world will see the rise of a contact-free economy. In three areas in particular—digital commerce, telemedicine, and automation. 

The pandemic could bring some positive outcomes. Individuals, communities, businesses, and governments are all learning new ways to connect. And businesses are finding faster, cheaper ways to operate. In-person conferences have gone virtual. Remote working has soared. These changes could make for better management and more flexible workforces. 

Investors are likely to take note and to devise ways to incorporate new resiliency metrics into their valuation, as they have begun to do with climate-related risks. Many companies will need to rebalance their priorities, making additional resiliency measures as important to their strategic thinking as cost and efficiency. 

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