Four months into the Covid-19 global pandemic, scientists around the world are beginning to find methods to understand, diagnose and work on treatments for this deadly virus. From a business perspective, due to the momentum of the global economy, we are only becoming aware of the impact on necessary contingency plans for taking day-to-day business decisions.
Epidemics and economic slowdown have brought along great challenges. Long-term planning seems particularly difficult, therefore most businesses focus on securing short- and medium-term financial liquidity.
Even though it’s far too early to class the effects of the Covid-19 pandemic on the global economy, these will obviously be staggering, as consumption rates fell sharply and certain economic sectors came to a grinding halt. Public aid will be indispensable in ensuring that many businesses, especially micro-entrepreneurs and SMEs, are able to stay afloat. The Polish government is still working on ironing out the creases in new versions of its so-called ‘anti-crisis shield’.
The worldwide SARS-CoV-2 pandemic has severely affected economic systems across all countries. Governments, including Poland’s, are providing financial support solutions to companies which have suffered drop of income as a result of Covid-19.
State aid – is it worth applying for?
The Covid-19 crisis has been a huge shock for global economy. Globally, a great many businesses have been closed or are working at a much slower pace. In the worst situation are owners of commercial spaces who are no longer receiving the income from their lessees. Nonetheless, the tax burdens must be still regulated – in particular, the property tax, which is a considerable income for municipalities. Let see whether any opportunities are proposed for Polish businesses in this regard.
Over the past weeks we have all found ourselves in a completely new and difficult reality. Businesses are doing everything to cope with this situation, and accept that it is our new everyday life. We still have many challenges ahead of us.
COVID-19 is changing the way we live, work and communicate. For many firms this is the first time when their entire team has had to work from multiple locations. Those who already have ‘working from home’ policies in place might have hoped it will be a walk in the park. It is not.
Remote work is the new reality for some of us, as an answer to the imposition of new restrictions connected with the global pandemic.
The current epidemic affects manufacturing industry more than most sectors of business; mass production is not work that can be carried out from home!
According to HubSpot data, customers are interacting with businesses more now than a a month ago. When people stay at home, they spend more time researching online shops.
Should multinational companies rewrite their corporate business continuity plans (BCPs) to incorporate global pandemics? This is a case study of the experiences of PM Group – an international provider of specialist engineering, construction, and project management services.
Officially recognised by the World Health Organization as a pandemic on 11 March 2020, Covid-19 has led to major socioeconomic disruptions throughout the world caused by the sanitary measures introduced by governments to check its spread.
Many of us, lawyers and clients alike, are wondering what life will look like after the lockdown is lifted. It is the biggest spanner in the works for the business world in our generation. Poland, in common with many countries across Europe, Asia and North America, has brought in special legislative and administrative measures to cope with the crisis. Many state activities have been frozen and this has impacted the judiciary too.
Although international trade may seem to be only one of numerous sectors affected by the Covid-19 pandemic, disturbances at the initial stage of a trade chain may cause a domino effect on various business activities, with implications for individual lives and for public health.
Both the Polish and the UK governments have imposed numerous restrictions due to the Covid-19 outbreak that affect businesses and result in losses to domestic and foreign investors. Some solutions implemented by the Polish authorities are being questioned by economists and lawyers as to, respectively, their economic rationale and their basic lawfulness.
As social-distancing measures are implemented to reduce the spread of Covid-19, businesses are doing their utmost to continue normal operations, leaving them more dependent than ever on remote technology and virtual meetings.
The outbreak of the Covid-19 pandemic, which was officially recognised in Poland in the second half of March, resulted in the lockdown of business activity, in particular in the retail, hotel, restaurants and entertainment sectors. This has caused tensions in relationships between landlords and tenants, especially where the tenant's business activity has been prohibited or limited.
Those who are party to English law contracts may be wondering how the Covid-19 pandemic impacts on their rights and obligations under such contracts.
Numerous sectors of the economy have been paralysed. The problem is not just closings or restricted access to a range of services, but also absence of staff due to illness, quarantine or childcare. Consequently, businesses cannot operate normally or perform their obligations on time.
Many businesses face practical difficulties in delivering seamless services and fulfilling their contractual obligations. What to do when you realise that your ability to discharge your contractual obligations is jeopardised by Covid-19? Here’s a five-step remedial plan:
The market challenges caused by the Covid-19 pandemic have made companies look for specific solutions to protect them against market disruptions.
Planning scenarios for resilient leaders
It sounds odd, but many market experts suggest a steep increase in post-pandemic or pandemic-related acquisitions. The deal hunt is likely to be one of three types:
From the rich international experiences in the staffroom, it is quite common to learn of colleagues who have been in schools, in far-flung destinations, that have taught through floods, earthquakes and tsunamis.
Major challenges await the compliance function in international organisations as a new business reality and economic circumstances emerge
The global economy is heading into a recession, initially at least a pretty severe one.
According to IMF figures published in Aon’s latest C-Suite Series report about credit solutions, the global economy grew by just 3% during 2019, the lowest rate of growth since the recession of 2009, with further slowdown expected in 2020.
EU member states have been obliged by the Fourth Anti-Money-Laundering Directive to introduce registers of ultimate beneficial owners (UBO), disclosing information on the individuals ultimately owning or controlling selected businesses. One of the purposes has been to prevent money laundering and terrorist financing through a system of accurate data collection of UBOs, preventing perpetrators from hiding their identity in complex corporate structures.
