Most CFOs of Belarusian companies do not expect significant changes in doing business in near future – Deloitte survey

<p> MINSK, Sep 24 - PrimePress. A poll conducted by Deloitte has shown that the majority (60%) of chief financial officers (CFOs) of Belarusian companies do not expect significant changes in business in the near future. The survey is based on a poll conducted by Deloitte interviewing financial directors of leading Belarusian companies in spring 2021 to determine the strategy of business development in the post-Soviet period. </p> <p>   </p> <p> About half of Belarusian respondents (47%) indicated that their companies have already exceeded the pre-crisis level of business performance, and, in general, the survey showed that the proportion of pessimism about the prospects for further business development in Belarus has decreased significantly, from 52% in autumn 2020 to 20% this spring. The majority of respondents (60%) do not expect significant changes in business conditions in the near future. This may indicate adaptation to the current realities and implementation of updated business development strategies. </p> <p>   </p> <p> The main changes that business representatives say with confidence will affect the format of interaction with customers and employees. For example, 60% of respondents say that interaction with customers and potential clients will mostly shift to a remote format. 27% of respondents believe that the majority of their companies’ employees will work remotely on a full-time basis. Likely based on a strategy of partially moving staff to telecommuting and shifting customer interactions to the online space, just over a third of respondents (34%) reported plans to reduce space, including leased space. It is noteworthy that a similar trend is observed in Russia. </p> <p>   </p> <p> Belarusian financiers plan to develop their businesses primarily through a strategy of increasing cash flow, digitalisation and growth in current markets. The strategy of cutting operating costs, which was popular at the beginning of the pandemic, has lost relevance among both Belarusian and Russian business representatives. </p> <p>   </p> <p> “The results of the survey reflect the fact that Belarus, Russia, continue to live in the so-called ‘new normality’ which was triggered by the COVID-19 pandemic. Moreover, while in previous years this situation was stressful for most companies, at the moment it has become more of a familiar norm. Digitalisation and tight integration of modern digital technologies into business processes will continue to play an increasingly significant role in achieving the companies’ strategic goals,” said Sergey Kostyuchenko, Risk Management Department Manager at Deloitte Belarus. </p> <p>   </p> <p> A survey of CFOs from various companies in Belarus representing key sectors of the economy was conducted in the spring of 2021 to provide a comprehensive study of business trends in the country. This study is part of the European survey, which allowed for a comparative analysis of the results of the survey of respondents from Belarus, Russia and Europe. End </p>

2021-09-25

Primepress