This crisis will pass, and each of us must be ready for the
The effects of the present turmoil
have had a serious impact in the economy, in our
own companies, our current clients and all our
business partners. We all have suffered reductions
in orders, revenues and profits. These are also
tough times for banks. Because banks are reducing
their exposure to risks, it has become increasingly
more difficult to negotiate rates and credit limits
with them. But this economic crisis, like all
others before it, will pass.
Growth will return, although
not in the same way or in the same places as before.
The developing countries, especially China, India
and Brazil will be a new source of projects for
all our industry. The result will be a different
world to the one we knew, some countries and regions
will have it difficult to sustain the living standards
they were enjoying, other regions are already
out of the crisis in what refers to investments
and growth. We have to be ready to take our share.
It is important to be ready for the moment when
the recovery comes.
The companies that will benefit
the most from this moment are those companies
- Have reduced operating costs
and increased productivity.
- Have been able to preserve
a workload through the crisis, being able to retain
key staff - Are bold enough to confront the new
scenario, placing the know how in the markets
that are to lead in this economic recovery.
- Have maintained a professional
approach to clients, defending their own position
but trying to help customers and other industrial
partners during the downturn.
We at Beroa have been very active
in the last months making sure that our group
is ready for the recovery. We are working closely
with our customers to help them be the winners
and leaders in that recovery.