Grant Thornton International Ltd. has produced a publication named ‘Retail: Navigating the Impact of COVID-19’ for retail businesses.
“As non-essential trading was halted in many parts of the world, many businesses have experienced a significant drop in revenue with store closures. As a result of this, many retail staff were made redundant or worked reduced hours during the pandemic,” said Marivic Espano, chairperson and chief executive officer of P&A Grant Thornton.
The Asean Focus Retail Industry Services aims to meet rising demand from retail businesses looking to relocate operations to the region. The service will focus on medium to large enterprises looking to expand, relocate or diversify their businesses in the region.
While the Asean region is often the prime choice for businesses and investors, any relocation or expansion in a new country or region can be challenging. Many factors need to be considered, including risk management, cost management, investment returns, cultural differences and more.
The growing demand for help in these areas is the driving force behind the Grant Thornton member firms from the Big 7 ASEAN countries – Malaysia, Indonesia, Philippines, Singapore, Thailand, Vietnam and Cambodia– coming together as Grant Thornton Asean. “We offer seamless cross-border services to all the medium to large enterprises looking for opportunities to expand their retail businesses across the Asean region” said Espano.
With a team of local experts from different countries, Grant Thornton Asean can provide medium to large enterprises valuable business insights and strategic perspectives, evaluate business challenges and support their needs in local or regional growth, risk management or cost management.
As published in Malaya Business Insights, dated 28 August 2020