COVID-19: Navigating the crisis together.
The COVID-19 pandemic is having a huge impact on people’s lives, communities and the overall economy.
Corporations, family businesses, start-ups and the public sector are all being challenged to rise to the occasion. They need to manage the crisis today, while laying the foundation to reemerge stronger over the long term. We’re helping them to do this, both locally and around the world. Because it’s easier to cope with difficult times when you’re working together toward a brighter future.
Of special interest
China’s Response to COVID-19: Raymond Chao, PwC China in discussion with Ulrich Störk, PwC Germany (recording)
Making virtual work easier: the Digital Fitness app can help
Global overview of tax, legal and economic measures addressing COVID-19
We are all facing an unprecedented situation.
It’s having a massive impact on our lives and on the people around us -- family and friends, colleagues, employees, clients. While their health is a top concern, many may also be worried about their professional future or their livelihood. Because it’s not just people who are facing a threat, it’s businesses too.
We’ll help you manage today’s difficult challenges and get ready now for tomorrow’s path out of the crisis. As members of the community, we have an obligation and a responsibility to help contribute solutions, in line with our company purpose to build trust in society and solve important problems.
Dr. Ulrich Störk, Chairman of the Management Board
COVID-19: what you need to keep in mind
Crisis management:
Stabilise and reorganise
What’s needed now: a crisis task force and a crisis plan that helps you run your business, identify sensitive areas quickly, keep your stakeholders informed and make strong decisions.
Workforce:
People at the centre
Companies have a duty of care and an obligation to keep employees informed. Both are especially important during the crisis. Companies may need to address changes to working conditions, such as home office options, as well as labour law topics, like short-time working arrangements or continued payment of wages.
Liquidity, finance and taxes:
Stay financially strong
Pandemics often lead to economic gridlock. Financial pressures may threaten an enterprise’s financial viability. Companies need to ensure transparency about their own financial situation and liquidity, understand the options for government support, and consider tax implications.
Legal & Regulatory:
Contracts under pressure
Crises often make it difficult to comply with contracts, due to delivery bottlenecks or a lack of sales markets. Don’t wait to consider where you may face penalties, incur liability or be unable to meet statutory deadlines.
Supply Chain & Operations:
Quick responses needed
A worldwide pandemic endangers business operations. Supply chains and connections are threatened - including critical links to IT service providers, suppliers, and customers. To make sure your operations don’t come to a standstill, now is the time to identify critical functions and operational risks.
Strategy & Transformation:
Protect your reputation
Companies that act decisively will be strengthened and emerge from the crisis with a competitive advantage. Successful companies are reassessing their strategy to make the most of an opportunity for strategic transformation. They’re aligning core competencies, cost structures and their organisation with the post-crisis "new normal".
Together through the crisis
How COVID-19 is changing food retail
The rapid spread of COVID-19 is putting the brakes on business in many industries. It’s a different story in food retail, where sales are hitting new records. Some of the changes we see currently are short-term, as a result of the crisis. But the pandemic will also accelerate other developments that could permanently change retail. PwC and Strategy& describe four ways that COVID-19 is having a long-term impact on food retail.
The Energy industry in the Corona crisis
The corona crisis is having a dramatic impact on the entire Energy sector. Read more about the global situation here, or watch our recent global Webcast on COVID-19 and its impact on Power and Utilities around the world. In Germany, the Power and Utilities sector is well-prepared as an essential industry, but there is a need for companies to intensify crisis defense mechanisms and to broaden these to all areas of the business. For more information, please contact Dr Norbert Schwieters, Leader, Energy, Utilities and Resources, PwC Germany.
COVID-19: impacts on the public sector
Our capable experts provide support for the public sector, with a focus on transformation and long-term success. For example, we’ve presented our views on what to consider and concrete proposals for government and business around the "re-start" of Germany in the context of COVID-19 in our white paper. For more information, please contact Prof Dr Rainer Bernnat, Leader, Public Sector and Government, PwC Germany.
COVID-19 and its impacts on Financial Services
Uncertainty and volatility are currently dominating financial markets. The economic outlook is changing rapidly and forecasts are continually being updated. That’s having a significant impact on banks, insurers and asset managers. It’s more important than ever to balance immediate action with longer-term perspectives and strategic topics.
Take a look at our global views for each of the FS sectors, or contact the PwC Germany leaders for more information:
Banking and capital markets, or contact Sven Hauke, Leader, Banking & Capital Markets, PwC Germany
Insurance, or contact Julia Unkel, Leader, Insurance, PwC Germany
Asset and wealth management, or contact Gerard Gonsior, Leader, Asset & Wealth Management, PwC Germany
Transport in focus
The corona crisis has had a dramatic impact on passenger transport. PwC Italy’s position paper Thinking Ahead: How to relaunch passenger mobility after the COVID-19 emergency provides some ideas for ramping back up. For more information on transport in Germany, contact Ingo Bauer, Leader, Transport and Logistics, PwC Germany.
PwC Tools and Services
Global overview of tax, legal and economic measures in response to COVID-19
In addition to its serious impacts on individual health and health services, the Coronavirus (COVID-19) is having a significant effect on enterprises and business. The global PwC network can provide you with support. Our navigator gives you an overview of highlights from rules related to COVID-19 around the world, including a search by country and topic. In Germany, your contacts Jan Becker and Volker Käbisch can respond to any questions.
Checkliste for start-ups and SMEs
To combat the uncertainties faced by start-ups and SMEs, PwC offers a checklist to help companies analyse their current situation and review how they can respond.
COVID-19 Navigator
The COVID-19 presents major challenges for all of us. We want to provide our clients with the best possible support during these difficult times. That’s why we developed a free tool that draws on our experience coping with crises.
Contact us
Prof. Dr. Rainer Bernnat
Leader Government & Public Sector, Strategy&, PwC Germany
Tel: +49 69 97167-414
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