Consumer demand and behaviour biggest threats to recovery
Shrinking consumer demand and changing consumer behaviour are the biggest threats to business recovery, according to a survey.
The survey was conducted from 27-30 May with 2,718 responses, by global chief executive leadership community YPO, which sought to gain insights into the impact the COVID-19 pandemic had on businesses.
Business leaders were split when it came to easing of restrictions and re-openings with 49% having said it was right, 43% said too slow and 8% believed it was too fast.
If a second wave of COVID-19 hit, 6% said their business would be at risk of not surviving, while 72% said it would pose a moderate-to-large threat.
The majority (64%) said business outlook was more negative compared to March, although 84% felt this way during a survey in April.
Over half of companies said had received some form of government support, while 44% of those that did not said it was not required.
Business leaders in Australia/New Zealand (71%), United States (67%) and Canada (65%) were the most likely to have received government support, while South Asia (5%), Africa (24%) and Latin America (26%) were least likely.
Chief executives expected negative effects until March next year on revenue (49%), headcount (39%) and total fixed investment (39%).
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