General sustainability sustainability-related disclosure requirements and climate-related disclosure requirements consultations released by the the International Sustainability Standards Board (ISSB).
The role of the family business in Saudi Arabia is significant and has been a mainstay of the economy for the past century. These businesses provide the majority of private-sector employment and are now seen as a key driver of economic diversification.
The last quarter of 2021 was a record-breaking one for Saudi Arabia as the country saw a 400% increase in foreign investment licence issuance compared to the same quarter of the previous year. Most of this investment was in the technology sector, with start-ups and SMEs seeing substantial growth.
Saudi Arabia is fortunate to have an abundance of oil resources. This has been the foundation of their economy for decades, allowing the Kingdom to become one of the world’s leading energy producers. However, since the 1970s, Saudi leaders have expressed a desire to move the nation away from total economic dependence on oil revenue. In 2016, Crown Prince Mohammed Bin Salman announced his Vision 2030 plan for the future of the nation. This agenda seeks to diversify the Saudi economy and increase private sector participation.
The stampede of mid-market companies looking to expand internationally continues, despite the added challenges of transport costs and disruptions. The percentage of companies expecting to increase exports in the next 12 months remains high at 45%, while the percentage expecting to increase international revenue has risen 3 percentage points to 44%, according to Grant Thornton International’s Business Pulse.
Higher growth expectations are being seen widely across the world, with slightly elevated levels recorded in the more developed parts where vaccine roll-outs are helping economies to rebound strongly.
Technology firms have experienced high growth potential in 2021, with this trend projected to continue, however firms need to consider how to build resilience against changing customer behaviours, how to access and retain tech talent as demand increases for this new human capital and how to navigate the complexities of an increasingly digital world. We explore these questions further.
We explore whether TMT businesses can seize the opportunities of growing demand, or if they will be held back by the challenges presented by regulation and access to talent.
The financial services sector is taking stock of the pandemic’s impact, and future working practices. Against this backdrop, Partners working with financial services clients around the globe share their perspectives on advancing female leaders in the sector, and enabling financial services businesses to realise the performance benefits of an inclusive culture.
Despite the set back caused by the pandemic, the G20 countries continue to act as a launchpad for businesses wishing to penetrate global markets in both a virtual and physical environment. This summarised guide highlights the strategic and commercial value which the G20 countries offer, supporting dynamic businesses to consider reigniting their growth path in new markets, which require diverse solutions, services and new innovative approaches.
For 17 years, Grant Thornton has been tracking the global progress of women in senior management. In this summary report we share the insights from the 2021 study, along with the progress being made across the Gulf, whilst highlighting the thoughts of key leaders.
In the immediate aftermath of COVID-19, businesses looked to improve their cash flow management and focus on day-to-day survival, leaning heavily on government support packages. But longer-term, businesses will need greater liquidity as they move towards a post-covid era. They will need to invest in adjusting to the changes, to sustain operations and stay competitive. Raising finance to do so will be essential. We share key insights relating to accessing finance
Regulatory changes can be challenging at the best of times but with many businesses focused on day-to-day survival, recent rule changes have proved particularly problematic. In the early stages of the pandemic, governments had to act quickly to protect lives and support the economy, meaning businesses had little time to prepare. As attention turns to the future and recovery, further regulatory changes are inevitable. With many governments talking about a ‘green recovery’ environmental, social, and governance regulations may tighten.
The COVID-19 pandemic presents extreme challenges to businesses and the competitive landscape will be a hot bed of innovation, quick pivots, divestments and acquisitions as businesses devise new models to recover growth. This insight explores how businesses need to navigate the market dynamics.
The global pandemic combined with economic uncertainty is changing the way people consume products and services – possibly forever. Businesses will become irrelevant to their customer base if they fail to understand the changing behaviours and priorities brought about by the pandemic. Understanding the customer’s new world has never been more critical. Mid-market businesses need to use this time to assess whether they have the right business intelligence and engagement tools to understand and meet their customers’ changing needs.
Lockdowns and remote working have blurred the lines between business and professional lives and brought to the fore the physical and mental wellbeing of workforces. Health, morale, the working environment, skills, and productivity are critical issues and meeting those challenges is a priority.