{"id":207503,"date":"2024-02-23T21:49:45","date_gmt":"2024-02-23T21:49:45","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/23\/pwc-survey-reveals-expected-business-economic-impact-of-covid-19\/"},"modified":"2025-06-25T17:21:40","modified_gmt":"2025-06-25T17:21:40","slug":"pwc-survey-reveals-expected-business-economic-impact-of-covid-19","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/23\/pwc-survey-reveals-expected-business-economic-impact-of-covid-19\/","title":{"rendered":"PwC Survey Reveals Expected Business, Economic Impact Of COVID-19"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p class=\"p1\">Just released by PwC, <a href=\"http:\/\/pwc.com\/us\/covid-19-survey\"><em>COVID-19 CFO Pulse Survey: What finance leaders are focused on<\/em><\/a> reveals how chief financial officers (CFOs) and finance executives in the U.S. and Mexico plan to react to the COVID-19 outbreak and what business and economic impacts they anticipate in the coming weeks and months. Fifty finance leaders weighed in from the U.S. and Mexico from March 9 \u2013 11, 2020.<\/p>\n<p class=\"p1\">The potential for COVID-19 to lead to a global economic downturn is the top concern for finance leaders in the U.S. and Mexico. However, 90% of finance leaders say their business would return to normal in less than three months if COVID-19 were to end immediately.<\/p>\n<p class=\"p1\"><img fetchpriority=\"high\" decoding=\"async\" fetchpriority=\"high\" class=\"aligncenter size-full wp-image-61994 perfmatters-lazy\" alt=\"COVID-19\" width=\"800\" height=\"420\" src=\"https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19.jpg\" srcset=\"https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19.jpg 800w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-571x300.jpg 571w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-768x403.jpg 768w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-696x365.jpg 696w\" data-sizes=\"(max-width: 800px) 100vw, 800px\"\/><noscript><img fetchpriority=\"high\" decoding=\"async\" fetchpriority=\"high\" class=\"aligncenter size-full wp-image-61994\" src=\"https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19.jpg\" alt=\"COVID-19\" width=\"800\" height=\"420\" srcset=\"https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19.jpg 800w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-571x300.jpg 571w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-768x403.jpg 768w, https:\/\/businessfacilities.com\/wp-content\/uploads\/2020\/03\/COVID-19-696x365.jpg 696w\" sizes=\"(max-width: 800px) 100vw, 800px\"\/><\/noscript>Other key findings include:<\/p>\n<ul>\n<li class=\"p1\">All finance leaders say their business is experiencing some impact as a result of coronavirus<\/li>\n<li class=\"p1\">54% of respondents say the outbreak has the potential for \u201csignificant\u201d impact to business operations<\/li>\n<li class=\"p1\">58% expect a decrease in their company\u2019s revenue and\/or profits this year<\/li>\n<li class=\"p1\">34% say impact has been limited to specific regions, but that they are monitoring developments closely<\/li>\n<li class=\"p1\">Just 14% of finance leaders reported that their company is not considering any financial actions as a result of COVID-19<\/li>\n<li class=\"p1\">Only 30% are considering supply chain changes<\/li>\n<li class=\"p1\">80% indicated that a potential global recession rated among their top-three concerns with respect to COVID-19<\/li>\n<li class=\"p1\">48% of finance leaders expect to change disclosures<\/li>\n<\/ul>\n<p class=\"p1\">\u201cUncertainty, especially regarding both the length and severity of the COVID-19 pandemic, is a predominant concern for chief financial officers,\u201d said Tim Ryan, PwC US Chair and Senior Partner. \u201cHowever, with 90% of CFOs and finance leaders optimistic that they can return to normal business operations fairly quickly if the pandemic stops soon, this should signal a strong sense of urgency for business leaders to work closely with government and public health officials to help address the crisis.\u201d<\/p>\n<p class=\"p1\">PwC has also created the <a href=\"https:\/\/www.pwc.com\/us\/en\/library\/covid-19\/response-navigator.html\">COVID-19: Navigator<\/a> \u2014 an online tool that helps companies assess the potential impact to their business and gauge readiness to respond to disruption created by the coronavirus pandemic.<\/p>\n<p class=\"p1\">\u201cMost finance leaders surveyed seem to be optimistic about a resolution to the spread of the coronavirus and as a result are focused on near-term versus long-term solutions to managing costs,\u201d said Amity Millhiser, PwC U.S. Vice Chair and Chief Clients Officer. \u201cHowever, if conditions continue to deteriorate we would expect to see a pullback in long-term investment spending as companies move to longer-term cost containment strategies.\u201d<\/p>\n<p class=\"p1\">Of the 50 finance leaders surveyed, 80% are from <em>Fortune<\/em> 1000 companies, with others in healthcare non-profit associations or in privately held companies, and 44 respondents are from the U.S. whereas six are from Mexico. The <a href=\"http:\/\/pwc.com\/us\/covid-19-survey\">survey<\/a> will repeat every two weeks to track changing sentiment and priorities.<\/p>\n<h4>Want more news about COVID-19?<\/h4>\n<p><a href=\"https:\/\/businessfacilities.com\/?s=COVID-19\">Check out all the latest COVID-19 news<\/a> related to economic development, business development, corporate expansion and more.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/businessfacilities.com\/pwc-survey-reveals-expected-business-economic-impact-of-covid-19\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Just released by PwC, COVID-19 CFO Pulse Survey: What finance leaders are focused on reveals how chief financial officers (CFOs) and finance executives in<\/p>\n","protected":false},"author":1,"featured_media":207504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[151],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/207503"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=207503"}],"version-history":[{"count":1,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/207503\/revisions"}],"predecessor-version":[{"id":342673,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/207503\/revisions\/342673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/207504"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=207503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=207503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=207503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}