Blog

Recovery Following COVID-19 Can Be Strong If We Adapt

Philippe Dessertine is an economist and specialist in finance that has not only graced several television screens over the years but has also worked with several government bodies from a financial vantage point.

Given the current climate regarding COVID-19, it should come as no surprise that the much focus has been shed onto the effects COVID-19 has had on the economy, with the outcome being surprising to many.

Of course, CVOID-19 has caused significant upheaval in the world of finance, especially during the beginning phase. The confusion surrounding the pandemic meant that businesses did not how to react, and some may have acted incorrectly at the start.
However, when mistakes are made a lot can be learned, and many businesses around the world have accepted it could be sometime before the virus is contended with and have enacted changes that align to this.

Some businesses can be difficult to change, but in difficult times, it is important to think outside the box. Sure, there is Government support in place in some instances, but this is often in short supply, and will have little effect if the goals of the business are contradictory to what is happening in the real world.

Philippe Dessertine Speaks at the Fipec General Meeting in Paris
Fipec is an association that deals with wood preservation industries, as well as those who operate in the paint, ink and glue sector. As expected, the focus of the meeting was health-centric, but was still able to host to almost 150 attendees while following the current guidelines in place.
The talks taking place were also unique. Rather than asking businesses to wait for an update, the talks were focused on ensuring businesses are fully aware of what they are capable of when combating the unknown virus.

Dessertine covered the major challenges of recovery but was keen to reinforce that the current crisis was not connected to the economy. The economic downturn experience in the USA was due to the flipping of the switch when in panic mode, which led to the biggest recession in history.
However, the initial lows are starting to balance, and Philippe Dessertine believes a strong recovery will be seen between 2021 and 2022, with Asia playing an important part. Another point made was that the economy will change moving forward and needs to be embraced for businesses to prosper.

Coronavirus is an Accelerator of History

As the pandemic has changed the way that many people work, it has meant more focus is being dedicated to areas that may have been neglected otherwise. An example, of some focal areas include climate change and advancements made withing big data.

The forthcoming technological change is believed to surpass the industrial revolution of the 18th and 19th century, so innovation needs to be prominent.

The onset of COVID-19 has not been good news for anyone, but when moving forward it is crucial that businesses are realistic of what tomorrow will bring. Although it comes with its share of bad news, COVID-19 can also present an opportunity to find new ways of working, as well as new ways of communication with customers and clients.

Leave a Reply

Your email address will not be published. Required fields are marked *