2021 was a year that changed the future of businesses, not only in the United Kingdom but on a global scale. From many retail businesses and hospitality venues closing to large corporate companies changing their business models to allow their employees to work from home.
With such a turbulent year for industries in 2021, what are the 4 top risks to UK businesses in 2022?
Over the last 24 months, businesses have had to acclimatise to both Brexit and the Covid- 19 pandemic, impacts include advanced import and import costs, cashflow challenges, and supply-chain disruption. The epidemic saw numerous businesses forced to close their doors either temporarily or permanently, those in the retail and hospitality especially.
The Covid-19 pandemic saw a large-scale move to remote working which numerous businesses are still embracing 24 months on. Moving workers offsite introduces new access points for vulnerability, and the geographical spread of staff translates to thousands of routers and networks, amplifying exposure across a company’s IT ecosystem. Cybercriminals have exploited these vulnerabilities, plus the increased reliance on videotape conferencing apps, for marketable gain through conditioning similar to social engineering styles and phishing emails.
Climate change was the biggest challenge in 2021, being a prominent issue in the minds of numerous business leaders. The COP26 conference in Q4 2021 brought ‘loss and damage’- the expression used to describe the destruction being wrought by the climate extremity- under the limelight and this will probably remain high on the agenda at the COP27. Away from the egregious environmental impact, climate change can impact many companies’ business models and pose a wide disruption to organisations.
Brexit related legislation and regulation for businesses continue to evolve, from importing and exporting, to transporting goods to the EU, swapping data, and reclamation of people from outside the UK. Organisations have naturally also demanded to keep up with changing Covid-19-related regulations and measures and understand their liabilities in keeping workers safe.
At IntaCapital Swiss, we facilitate funding for business and projects across the United Kingdom. With our expert team of financiers, we can offer new projects immediate working capital, subject to passing our due diligence, whether they fall under commercial, residential, infrastructure or leisure.
Find out more about how IntaCapital Swiss SA can facilitate multiple different facilities here.