Just Released: Business World March 2023

March 2023

Russell Bedford International has released the March edition of its biannual magazine, BUSINESS WORLD. 

Business World delivers the latest views and analysis written by specialists from within the Russell Bedford network, together with guest authors from various other organisations from around the world. 

Articles in the latest edition include: 
 
Navigating economic turbulence 

Even in the midst of last year’s economic gloom, forecasters were already predicting that 2023 would continue in a vein of economic uncertainty. It seems to be a widely held perception that, after a pre-pandemic time of relative calmness, the world has entered a period of global economic turmoil. But do the economic indicators back this up? 

Andrei Badiu, a partner at Russell Bedford’s Romania member firm, 3B Expert Audit, shares his thoughts on the economic outlook for 2023. 

How IFAC engages with the G20 

In November 2008, at the height of the global financial crisis, Washington DC hosted the very first G20 summit. Now an annual event, the G20 summit brings together the leaders of the nineteen largest world economies, plus the European Union, to focus on the global economic issues of the day.  

Scott Hanson, Director, Policy & Global Engagement at the International Federation of Accountants (IFAC), discusses. 

Transfer pricing and the impact of rising interest rates 

During 2022, central banks around the world such as the US Federal Reserve and European Central Bank introduced successive increases in base interest rates. This tendency has continued in 2023, and further increases are expected to help curb rising inflation. 

Airam González San Fiel, partner at Russell Bedford in Spain explains. 

How to attract and retain talent – incentivising employees 

In a world of volatility, uncertainty, complexity, and ambiguity (VUCA) everything changes rapidly. This makes it important to act quickly, be flexible, and adapt to circumstances. Attracting and retaining employees in this changing environment is a concern for employers. 

Khatuna Goletiani, HR consultant at RB AAC (Georgia), shares advice gleaned over the course of her 15 years’ work experience in executing HR management for small and large companies, on how to attract and retain great talent. 

Franchising and what it has to offer   

For many entrepreneurs going it alone and building a new business is an exciting prospect. However, it is also fraught with risk. The prospect of building a brand and reputation from scratch, with few or no customers, can be a challenge, and the costs associated with setting up, running, and maintaining a business until it can support itself while also covering day-to-day personal living expenses can be a worry. 

Anne-Hélène Mathieu, partner at Russell Bedford’s Lyon member, Pyramide Conseils, shares the most important things to consider before committing to investing in a franchise. 

Accountants – helping businesses achieve sustainability 

In recent years the issue of sustainability has taken on increasing importance in all walks of life, both personal and business. Russell Bedford deems sustainability, and the impact of business on society and the environment, as one of the key global challenges. To confront this issue, Russell Bedford set up its Social Impact Committee with the task of promoting action among its global member firms.  

The committee launched with a panel discussion at the network’s global conference in October 2022. Here, Business World asked three members of the panel – Lina Lemessiou, Deanna Salo, and Michael Sweeney – for answers to some key sustainability-related questions. 

How to build great business relationships 

The most successful businesses understand that every solution and success can be created and found through partnerships and mutually dependent working relationships, particularly if your business operates internationally and cross culturally. 

Michael Quigley, a former primary school teacher with extensive experience of teaching, coaching, leading and team membership, discusses the techniques that help cultivate great relationships, leading to creating positive and tangible successes.  

To read the latest edition of Business World in full, visit the Business World page of the Russell Bedford website HERE. Business World is also available from member firms of the global accounting network.