Increased state regulation, geopolitical risk will affect IT business decisions about relocation
<p> MINSK, Nov 20 - PrimePress. Deloitte conducted a survey in September-October 2020 among CFOs of Belarus’ largest companies. It turned out that all the IT and communications representatives who took part in the survey were considering various options for temporary relocation of employees and/or partial transfer of business abroad, reads a press-release by Deloitte. </p> <p> </p> <p> In the opinion of respondents thinking about relocation, two factors will have a greater influence on decision-making in this area: increased government regulation and geopolitical risk. </p> <p> </p> <p> It is noteworthy that a number of respondents who view the release as a possible option are quite optimistic about the financial prospects of their companies today compared to the situation three months ago, and some expect growth in revenue and operating margins over the next 12 months. </p> <p> </p> <p> “The widespread belief that IT companies can change jurisdictions very quickly is only partially true. This is a very serious step, involving significant costs even for this business segment, which must be calculated and evaluated. It is known that IT companies are very attentive to the needs and moods of their teams, so it cannot be overlooked that most private companies are in some way considering this option. If there is an internal demand for relocation, it will be satisfied," says Director of Deloitte Legal, Yury Veremeyko. “An important factor for this may be not only the care of employees, but also stable conditions for business,” he said. </p> <p> </p> <p> “Some large companies have already noted that they have to manufacture products not on the territory of Belarus, as the whole complex of problems they have recently faced, forces to make decisions to minimize possible risks and move project teams to other jurisdictions”, said Yuri Veremeyko. </p> <p> </p> <p> The survey of financial directors of the leading companies of Belarus, which represented the key sectors of the country’s economy, was conducted in September-October 2020 for the purpose of comprehensive study of business development trends in the country. The survey was conducted as part of an international study by Deloitte. This is the first study of its kind in Belarus, in which about 40 financial management experts took part. End </p>
2020-11-21
Primepress
MINSK, Nov 20 - PrimePress. Deloitte conducted a survey in September-October 2020 among CFOs of Belarus’ largest companies. It turned out that all the IT and communications representatives who took part in the survey were considering various options for temporary relocation of employees and/or partial transfer of business abroad, reads a press-release by Deloitte.
In the opinion of respondents thinking about relocation, two factors will have a greater influence on decision-making in this area: increased government regulation and geopolitical risk.
It is noteworthy that a number of respondents who view the release as a possible option are quite optimistic about the financial prospects of their companies today compared to the situation three months ago, and some expect growth in revenue and operating margins over the next 12 months.
“The widespread belief that IT companies can change jurisdictions very quickly is only partially true. This is a very serious step, involving significant costs even for this business segment, which must be calculated and evaluated. It is known that IT companies are very attentive to the needs and moods of their teams, so it cannot be overlooked that most private companies are in some way considering this option. If there is an internal demand for relocation, it will be satisfied," says Director of Deloitte Legal, Yury Veremeyko. “An important factor for this may be not only the care of employees, but also stable conditions for business,” he said.
“Some large companies have already noted that they have to manufacture products not on the territory of Belarus, as the whole complex of problems they have recently faced, forces to make decisions to minimize possible risks and move project teams to other jurisdictions”, said Yuri Veremeyko.
The survey of financial directors of the leading companies of Belarus, which represented the key sectors of the country’s economy, was conducted in September-October 2020 for the purpose of comprehensive study of business development trends in the country. The survey was conducted as part of an international study by Deloitte. This is the first study of its kind in Belarus, in which about 40 financial management experts took part. End