According to official data, small businesses with fewer than 50 employees are the largest and most potential portion of UK economic activity. Other advanced industrial countries are likely to have a similar proportion. It is also known that such businesses experience a high closure rate after major incidents whether the cause be floods or pandemics. Bouncing back – or ‘building back together’ as the government proclaims – is often a hard task that may take some time. Yet there are some simple steps that can be taken by businesses themselves as well as by local authorities to support business communities.
Community insights and announcements
Read the latest insights and announcements from the Travel, Tourism and Hospitality Community.
As the coronavirus (COVID-19) pandemic continues to impact businesses throughout the country, many valuers face challenges in performing valuations. One particularly challenging area is goodwill impairment assessments prepared under IFRS and U.S. GAAP.
During this webinar our speakers provide you with sector specific information, government advice and practical guidance for you to follow.
In a recent interview published by the Cyprus Mail, a daily English speaking newspaper in Cyprus, Eleni Kaloyirou, CEO of Hermes Airports, the company that manages the two international airports of Cyprus, talked about the company’s strategy, the importance of its people and communication, and how the Covid-19 pandemic has affected the airports and the tourism sector in Cyprus.
With challenges come opportunities. Several regional airlines and hotel chains are backed by Sovereign Wealth Funds. It’s no surprise that they are keen to acquire trophy assets globally, whilst valuations are low.
The COVID-19 crisis has inevitably shone light, yet again, on the regulation of travel and specifically how firms are required by law to protect customer money. This has led to much debate about trust accounts and increased interest in trusts from travel firms, regulators and financial institutions all looking to mitigate risk and repair damaged reputations.
The last few months has been exceptional, and its amazing what difference a few weeks makes to the outlook. In mid June the position pre unlocking trade seemed near impossible to read. Trade was to be allowed but how would the rules on social distancing work; what would the customers appetite to visit be like, let alone even enter a venue and spend money.
21 July: Eleni Kaloyirou, CEO of Hermes Airports, the company that manages the two international airports of Cyprus, talks about the impact of COVID-19 on the air transport industry and its outlook for the future.