As the coronavirus continues to take a toll on the global economy, our experts at Temple Group have identified the various ways to gauge the impact of this pandemic for businesses and stakeholders and help them to adapt to the ‘New Normal’. Temple Group, specialized in the Legal, Compliance and Financial affairs, in partnership with an international consulting firm has been analyzing the Socio-Economic trends affecting the different pillars of the economy in Mauritius and globally, alongside providing meaningful explanations to help mitigate the future risks associated to it.
In preparation of this precarious issue, Temple Group has been working on the “Economic Impact Assessment Report” (EIAR) for companies faced with Economic and Operating challenges. The EIAR is an effective tool used by several Economists across the globe to highlight the several areas affecting a sector and the strategies to be adopted for quick recovery of companies.
The importance of the EIAR resides in its efficiency to demonstrate the potential impact on the crisis alongside providing resourceful solutions to tackle the issue effectively and quickly, which could also be used for other emergency crisis arising in the future.
The EIAR would essentially comprise of a holistic sector solution, combining all areas touch its stakeholders, including:
- Collation and analysis of pan-industry data, referencing against other sectors in Mauritius, as well as against other countries operating in the same sector
- Research on business development and market outlook, together with a baseline marketing plan.
- Financial forensics and forecast, including cash flow requirements, funding options and leverage re-structure.
- Human and Intellectual Capital analysis and recommendations going forward.
- Studying the existing levels of automation and technology, and propose commensurate optimization for business efficiencies
- Overview of existing regulatory framework, available sovereign assistance and incentives, together with recommended industry protection and lobbying measures aimed at the Govt of the day.
- Overview of international applicable grants and schemes impacting the sector.
The coronavirus has caused a lot of social instability causing several companies to shut down and in many cases, operations have ceased completely and turnover has fallen drastically. In this regard, the EIAR aims to provide appropriate heat-maps and recommendations helping companies and industries alike. We are pleased to attach an overview of what a typical EIAR entails , for your perusal, easy reference, and onward instruction. We remain available for further discussions via video conferencing and/or via email and phone, and we look forward to hearing from you accordingly.