Cristina Vintila, Founder, CV-Expert Contabil
In a recent study by the EY Global Capital Confidence Barometer (CCB22), 73% of respondents, executives from 45 countries, believe that the COVID-19 pandemic will have a strong impact on the global economy. 54% of respondents estimate that the economic recovery period will be extended until 2021, noting that it is already reconfiguring its business strategy. Against this background, every entrepreneur or company should consider the most pessimistic scenarios and devise a post-crisis strategy for its business, even if this involves a major change of plans, such as rethinking capital allocations or merger and acquisition plans.
More and more experts say that this crisis will change the way business is conducted over a long period of time, which makes us realize that this new world is not a temporary one, but rather becomes the new normal. A new world, a new normality in which the impact of technology is a major one for redefining the way we work and communicate, in which digitalization has entered by force, being a necessary solution even if some of us were not prepared for it. A new normality in which the human resource, the most vulnerable in this pandemic time, must be supported by a united effort from the business and political leaders so that we can maintain people’s health and financial stability.
Financial strategies, the way the data are selected and presented as tax facilities by experts will help us get through this difficult period. Of course, in all of this, a good strategy of the Government to mobilize liquidity is very important. The first step is
the strategic collection of taxes by the state through fiscal facilities, such as bonuses, elimination of seizures and prescription of interest and tax penalties. The next step would be to rethink the method of taxation, reporting, collection and verification. I think that a fiscal „relaxation” will make the entrepreneur create jobs and focus more on business and development.
Regarding the financing from the European Union, they must be implemented in the sectors affected by the pandemic, but through a well thought out and developed filtering system through which the entrepreneur can ensure business continuity, but also job creation.
How do I see the future in the economy? Simple, digitized, organized, flexible and growing, but with fiscal stability, in the idea that we must learn from the times we live now. In order to reach this level, it is necessary to test, organize, digitize, to change our habits, to learn that only united through collective consciousness and work we will succeed.
What to invest in? A not so difficult question, but one that is strictly related to the financial education we have. What I consider to be beneficial, lasting, and good financial stability may not suit others because it involves many factors. As a recommendation, we could turn to technology, stock market, maybe even real estate.
The growth strategy I am currently applying for CV Expert Contabil is based on technology, and in the next period we are preparing to launch our new application, software for customer management, activities and their invoicing, all in a new way, as dynamic and practical as possible.
The CV Expert Contabil group was founded out of the desire to offer entrepreneurs confidence and constant support for the development of their business. In the 10 years of experience, we have managed over 500 projects of our clients, a large part of which we still collaborate with today. The greatest satisfaction was the fact that we managed to grow and enjoy success together.
Our mission is to provide accounting and financial consulting services for people. Starting from the premise that the most valuable resources of a company are the entrepreneur and its employees, we always focus on guiding them, so we do not only help them with the identified accounting problems. CV-Expert Accounting Vision – We want to be the best business partner, not just the best accounting firm.
For more details, you can find us here.
This article first appeared in the Elite Business Women magazine.
Read the full magazine here.