NASSAU, Bahamas, Jun 20, CMC – A new survey conducted by the audit, tax and advisory firm, PricewaterhouseCoopers (PwC), has found that the greatest concern for Caribbean businesses is a new wave of the coronavirus (COVID-19).
The majority of CFOs surveyed in the Caribbean expect COVID-19 to decrease revenue/profits by 10 per cent.
Most Caribbean CFOs (70 per cent as compared to 63 per cent globally) cite offering new or enhanced products or services as most important to rebuilding or enhancing their revenue streams.
According to the survey, 77 per cent of Caribbean CFOs say they are implementing cost containment, while 50 are considering deferring or cancelling planned investments as a result of COVID-19.
A significant number of Caribbean CFOs (77 per cent) say the current work flexibility will make the company better in the long run while 59 per cent say the current situation has resulted in better resiliency and agility which will make the company better in the long run.
