We move forward—together.
Your vision is unwavering. Our commitment is too. Our latest Purple PaperSM, Transforming macroeconomic uncertainty into opportunity, focuses on the future and what business leaders can do to mitigate risks while harnessing opportunities.
Michael Carter (00:06):
What is business as usual? That's a great question.
Jason Cagle (00:09):
It used to be that you could imagine tomorrow and do a long-term plan and put it on the shelf. Now, you got to think about it in an agile fashion all the time and constantly reevaluate.
Kathleen Farrell (00:20):
One of our values at Truist is to act as one team, operate as one team for our client. And we're able to bring broader perspectives, deeper insights, more solutions. And that really allows for growth.
Michael Carter (01:00):
The human spirit has an amazing ability to adapt. And no matter how tall the mountain is, we keep climbing it.
Jason Cagle (01:11):
This is the new normal. So the business owners we see that are the most successful are the ones who are leaning in and looking towards the future.
Leaders are experiencing fatigue from trying to determine what comes next. Truist subject matter experts deliver insights for how business leaders can focus on the future even in an uncertain economy.
Surround your leadership team with the people and tools that will set them up for success. Having the right team at the right time can help you create a nimble framework that can react quickly to economic uncertainty. Adapt swiftly to periods of economic slowdown with experienced advisors in your corner.
90% - Percentage of business executives who say they're concerned about macroeconomic conditions-more than any other issue.
Source: PwC Pulse Survey 2022, accessed July 28, 2023.
Place a renewed importance on digital transformation to cut costs and drive innovation. Implementing a digital plan is crucial for businesses during a volatile economic environment. Determine where to focus your digital advances to cut costs, add value, and promote innovation.
Spending on digital transformation technologies and services worldwide is projected to grow over 250% from 2017 to 2026.
Source: “Spending on digital transformation technologies and services worldwide from 2017 to 2026,” Statista, November 14, 2022.
Revisit your business’s goals and what it will take to get there. Staying ahead of a volatile economy can be challenging, especially when trying to predict future risks. Help your business plan for the unexpected by revisiting your goals and analyzing hidden risks—so you’re ready to face the changing economy.
Source: The Council of Insurance Agents & Brokers.
Evaluate your business’s strengths and make necessary changes, even when it’s hard to do. Examining your current operations now is the best way to prepare your business for uncertainty in the economy. Strengthen your position in the future by making sound moves for your company today with our strategic advice.
47.9% of M&A professionals expected to pursue a divestiture in 2023, according to a poll by Deloitte.
Source: “Divestiture Trends: 2023 Could See More Sell-Offs, but Expect Lengthier and More Extensive Diligence,” Deloitte, May, 2023.