IN NUMBERS

KEY RESULTS FROM THE YPO SURVEYS DONE IN MARCH AND APRIL

Things will get worse before they can get better – if companies can even pull through.

A lack of ability to do so was the most common negative business impact reported in the March survey. Other strongly affected areas are revenue, the chance for business development, and ensuring a stable supply chain. In the five weeks between the two surveys, 56 per cent more chief executives reported a “significantly more negative” business outlook, while 11 per cent of all respondents have said that their business is at risk of not surviving the pandemic.

Negative impacts by region.

For both the March and April surveys, chief executives from America were the least likely to be pessimistic about the situation. Compared to other respondents worldwide, American leaders were the least likely to view the crisis as a “severe threat”.

China, meanwhile, seems to have flattened the curve. Numbers from the European Centre for Disease Prevention and Control show that confirmed cases seem to be stabilising.

On YPO’s business distruption cycle scale for April, Asian companies seem to be ahead, and on their way to coming out of a continuity phase to transition into business revival. Australia, New Zealand, and America follows closely behind.

Sharon Wong, founder and CEO of Motherswork, a Singapore-based mother and baby retailer with a significant presence in China shares: “Q1 business in China dropped by 70 per cent. Only Beijing has shown some signs of recovery, which means we are in for a tough ride. We survived China’s lockdown because the landlords were supportive. The government ordered all state-owned malls to waive rental for February and March.”

Industries impacted.

With most social activities disrupted, the largest number of CEOs negatively affected by the virus come from the hospitality and travel industries; next are retail and wholesale. Despite this, 10 per cent of sector-specific retail and wholesale leaders, as well as those in the business of agriculture, factories, mines and utilities, reported a positive effect on revenue in March.

Meanwhile, according to a report by the World Economic Forum, large-scale events have taken major hits, with events being cancelled all over the world. Tech conferences alone, like SXSW and the Electronics Entertainment Expo, have sustained losses of over US$1 billion (S$1.45 billion).