Dun and Bradstreet has pointed out major global risks for businesses. These risks include the economic impact of the ongoing Coronavirus, which is taking its toll across continents.
The report titled The Dun & Bradstreet Global Business Risk Report (GBRR) is a powerful source of information for all business groups who are fighting more than just local and global market trends. The report has ranked the biggest threats to business based on each risk scenario’s potential impact on companies, assigning a score to each risk. The scores from the top ten risks are used to calculate an overall Global Business Impact (GBI) score. Apart from the COVID-19 spread, Dun and Bradstreet reported risks of cross-border business, cyber threats, geopolitical implications (US-Iran tensions, China, North Korea, etc) and political meltdowns in the leading European economies due to political changes.
Top Highlights of The Dun & Bradstreet Global Business Risk Report (GBRR)
– The paralysis of the Chinese economy resulting from the Coronovirus epidemic. The epidemic has stark consequences for the Chinese market, customers, suppliers, and the labor force.
– Outside China, coronavirus has resulted in a flurry of Pan-Global events getting canceled or banned from inviting guests at one location. These unexpected national and epidemiological security barriers could enhance global risks for business in investments, customer retention, and branding.
– Political developments in the US, Western Europe, and Italy also heighten risk factors for doing business.
– The decline of the automotive sector in the European mainland could have knock-on effects on the global supply chains.
– Global risks are arising from the growing proliferation of AI and other neo-technologies. The emerging threats of cyber-attacks, data theft, fraudulent activities could be both sponsored by state and non-state actors.
– Cross-border business deals are also at their peak since US businesses have more or less reached their saturation levels.
– Recent developments in the Middle East could also put major barriers to businesses in the coming days, even as defense analysts see Iran-US tensions at a point of eruption.
You can read the findings from the report here.
Surprisingly, the Dun and Bradstreet report does not highlight the growing risks arising from non-adherence to Zero-carbon efforts, Australian bushfire-like incidents, and the interruptions caused by various regional data privacy laws and regulations. Amidst new threats, we also foresee the potent rise of India, Singapore, Middle, and South African countries, (continent), and ANZ as the next-phase drivers of the economy in 2020 even as we fight off the dangers of coronavirus and flu-like epidemics.
(To share your thoughts on the global business risks for 2020, please write to us at firstname.lastname@example.org)