The impact of COVID-19 on businesses is acute, forcing them to deal with unprecedented financial and operational stress. For CDC investees, this will have immediate implications for consumers in some of the most underdeveloped economies and financially vulnerable populations.
Learning from crises in the past, global bodies have initiated attempts to respond to the changing markets and mitigate risks to the economy, with the objective to soften the burden on businesses and eventually consumers.1 Effects in emerging markets are expected to be wider and more severe.
While regulators and governments continue to respond on a daily basis to support their economies, companies will need to play their part to ensure that micro-economies, value-chains and customers are protected in the longer-term. Lessons learned show proactive, and sometimes unconventional, responses to crises allow firms to minimise financial stress and retain customers in the longer-term.
Each business will face different challenges, under different contexts, and will have to prioritise efforts and resources accordingly.We have complied guidance on some of the key things businesses should consider in order to manage risk to customers as well.
In addition our CDC Guidance for Employers for more detail on how to support staff and contractors during COVID-19.