COVID-19 Business Sentiment & Resilience Barometer
| Amidst the COVID-19 outbreak, 50% of APAC businesses are concerned about the future and 43% of APAC businesses are considering seeking out third-party support for business continuity planning, cost reduction and operational streamlining. |
Thriving Amidst Business Uncertainty
We believe that information and education are vital resources in managing business operations, especially as companies confront a new reality filled with challenges and complex implications for business growth. Tricor Group COVID-19 Business Sentiment and Resilience Barometer Report evaluates how the Coronavirus (COVID-19) outbreak is impacting Asia Pacific business sentiment, business continuity planning, operational decision-making, business restructuring, risk management, outsourcing and offshoring strategies.
Download our survey findings to better understand the implications of COVID-19 on local businesses, as well as how to mitigate risks, maintain continuity and scale up readiness and response in the face of business uncertainty.
What's in this report?
The COVID-19 Business Sentiment and Resilience Barometer Report contains:
- Key primary research findings from an in-depth sentiment survey conducted of business leaders and finance executives at 1,050 companies in APAC, sampling a cross-section of industries and firms in the private sector. Represented companies include entrepreneurs, startups, small, mid-size, MNCs and listed companies.
- Key findings include:
- 1 out of 2 executives agrees that their business has been impacted by the current public health situation and are concerned about the future of their business.
- 43% of executives report that if the situation gets worse, they will need to consider restructuring operations.
- Less than 1 in 3 executives are confident they have well-equipped crisis management teams capable of handling the situation.
- 43% of the executives agree that COVID-19 has heightened their awareness of business continuity risks and has increased their need for third-party, consulting and outsourcing support.
- 46% of the executives are actively looking for ways to streamline business functions through cost reductions and operational efficiency.
- Nearly half of the executives cite cost reduction as a key strategic focus to help navigate business uncertainty resulting from the acute reliance on Mainland China.
- Industry breakdowns from the Barometer report highlighting how the COVID-19 is impacting companies in various sectors, including infrastructure, manufacturing, consumer goods, financial services, professional services, technology, hospitality and travel.
- Insights on how agile companies can leverage outsourcing and offshoring strategies to prepare for disruptions and protect day-to-day operations.
Accelerate Business Resilience
Leverage Tricor's expert insights to future-proof business operations so your organization can remain nimble and strong in the face of change and disruption. Tricor helps clients mitigate risk, optimize GRC (governance, risk and compliance) strategies, diversify operations and achieve business resilience – now and well into the future.
“Since January of 2020, Tricor has received an increasing number of inquiries from organizations looking to circumvent the challenges posed by COVID-19, especially in mainland China and Hong Kong. Our teams are dedicated to helping clients face the evolving business environment with confidence – and thrive in the face of uncertainty.”
Lennard Yong, CEO, Tricor Group
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