Before COVID-19 became a global pandemic, Grant Thornton’s International Business Report (IBR) revealed a state of resilience and fragile optimism among the global mid-market. But COVID-19 was an unprecedented shock that forced a dramatic shift in the global social, business and economic climate. If resilience was ever a quality worth pursuing now is the time.
Resilience is not just about withstanding an existential crisis. It’s about thriving under all circumstances. But it also hinges on optimism to overcome adversity.
With more resources available than smaller businesses and with less complexity than larger ones, the mid-market has innate agility to pivot effectively in crises. Now more than ever, businesses must grasp the levers available to adapt. A focus on cashflow, supply chains, internal reporting, technology and digital transformation, as well as people management and leadership, all combine to embed organisational flexibility in the face of oncoming challenges and opportunities.
Click on the links below to explore the IBR findings and read about the characteristics businesses will need to move from crisis management to restoring and rebuilding.
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Speak to a Grant Thornton adviser in your location to discuss how you can strengthen business resilience in these challenging times.