-
Privacy and Data Protection
Our digital risk team is made up of a combination of subject matter experts and technical specialists who can help your business comply with the GDPR.
-
Governance, Risk and Compliance (GRC)
While business goals and strategies evolve, our services support you wherever you are in your business cycle. The digital economy is simultaneously increasing the magnitude of new business opportunities while increasing the difficulty of getting it right.
-
ISO 27001 and ISO 27701
Grant Thornton’s ISO 27001 and ISO 27701 specialists will arrange and oversee the formal audit process.
-
SOC 1,2,3
As a service organization there are many ways to provide assurance to your customers and in turn other stakeholders over your control environment. One of the most effective and cost-efficient ways is to issue a Service Organization Control (SOC) Report.
-
Incident Response
Grant Thornton’s Cyber Incident Response Team can support your business in the event of a cyberattack or data loss event. We work alongside your existing IT and Legal teams to provide a co-ordinated, timely and efficient investigation and remediation.
-
Hacking Services
At Grant Thornton, our cyber security experts can develop a bespoke penetration testing plan to meet your business needs and unique IT environment. We can undertake the full suite of testing or conduct individual assessments, as required.
-
Cyber Health Check
Approximately 54% of organizations report that they have experienced at least one cyber-attack during the past year. Grant Thornton’s cyber health check provides you with an objective, jargon-free assessment of your current cyber security, drawing on both qualitative and quantitative elements.
-
Dark Web Threat Intelligence
We use a variety of dark and deep web monitoring tools that continuously scans illegal sites to discover any mention of your data, ranging from breached security credentials such as usernames and passwords to leaked confidential documents of your company.
-
Digital forensics and electronic discovery
We offer a full suite of digital forensics and data acquisition services in investigations related to cybercrime, disputes, fraud and regulatory investigations.
-
Insolvency
If you're facing a time of personal or corporate financial crisis you need advice from someone who listens, who understands your specific issues and deals with them in a supportive and sensitive manner.
-
Crisis stabilisation and turnaround
In periods of financial distress, management teams often face considerable challenges, with many directors having little or no experience of similar conditions.
-
Operational and financial restructuring
Companies challenged by underperformance often need support in identifying options for financial or operational restructuring. Tapping this type of advice helps them create a stable platform for business turnaround.
-
Accelerated M & A
Even fundamentally sound businesses run into difficulties. Cash flow can come under pressure from the loss of a big client, or a dip in performance can threaten a breach of banking covenants if there is insufficient headroom.
-
People Services
Our HR Outsourcing solutions are designed to provide you with the flexibility and expertise needed to manage your people effectively and efficiently.
-
Relocation made easy!
We bring to the table our in-depth understanding of Cyprus immigration legislation and policies, coupled with long experience supporting corporate clients relocating non-EU staff to Cyprus, as well as entrepreneurs and executives moving with their families.
-
Family Office Services
In an era of rising digital threats, protecting the sensitive information and assets of high-net-worth families is paramount. In collaboration with our dedicated strong Cybersecurity and Data Protection team, we can help ensure the data security and privacy of your Family Office (employees and c-suite), family members and any staff supporting them, and also trusted associates.
-
Indirect Tax
Our experienced VAT specialists are available to assist companies and entrepreneurs of all industries and sizes in meeting their obligations.
-
Direct Tax
We can help you ensure a bespoke balance between tax compliance and effective tax planning for your special circumstances.
-
Ημερίδα Γνωριμίας με την Grant Thornton Κύπρου
Σας προσκαλούμε σε μια μοναδική ευκαιρία να γνωρίσετε την Grant Thornton Κύπρου! Την Τρίτη, 5 Νοεμβρίου 2024, θα έχετε τη δυνατότητα να συναντήσετε την ομάδα μας, να ενημερωθείτε για επαγγελματικές ευκαιρίες και να εξερευνήσετε πιστοποιήσεις όπως ACCA.
-
Life at Grant Thornton
At Grant Thornton Cyprus, we are taking a holistic approach and reimagining the way we work, continually assessing it and making necessary changes to better support our people.
-
In the community
Unlocking the potential for growth in our local communities.
-
Diversity and inclusion
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
-
Global talent mobility
One of the biggest attractions of a career with Grant Thornton Cyprus is the opportunity to work on cross-border projects all over the world.
-
Learning and development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day.
-
Our values
We are a values-driven organisation and we have more than 56,000 people in over 140 countries who are passionately committed to these values.
Global business optimism falls as mid-market prepares for ‘unusual’ recession
Faced with high levels of economic uncertainty, optimism among mid-market businesses has fallen a further five percentage points to 59% (down from 64% in the first half of 2022), according to Grant Thornton’s International Business Report (IBR)*, which tracks sentiment among global mid-market business leaders. Despite the fall, optimism remains above the historic average, indicating business’s hope for a return to normality may lie ahead.
Business optimism 2019 - 2022
Many economies around the world are preparing for a rather unusual recession. One that is characterised by conditions usually associated with a boom, such as low levels of unemployment (instead of increasing levels) and central banks raising interest rates (instead of cutting them). These unusual characteristics combined with what many commentators expect to be a shallow and short recession, could mean the ‘usual’ response to a recession may not be the right course of action for businesses.
For example, now may not be the right time to reduce headcount in search of cost savings. With a record number of businesses citing availability of skilled workers as a key constraint to growing their business (57%) – if any recession is short-lived, layoffs could leave businesses short-staffed when demand picks up again.
There is no doubt businesses are grappling with what may lie ahead this year. Economic uncertainty and energy costs remain the top concerns globally with 60% of businesses citing them as a constraint to growing their business. This is followed closely by the availability of skilled workers (57%) and labour costs (55%).
Concerns over a shortage of finance have eased somewhat, down to 47% citing it as a constraint compared to 50% in the second half of last year. However, the true impact of rising interest rates can be seen when comparing historic data as this is more than double the pre-pandemic average of 22%. This is also true for energy costs (60% citing it today compared to 29% on average pre-pandemic) and quality transport infrastructure (49% today compared to just 16% on average pre-pandemic). Shortage of orders was another constraint cited by 53% of mid-market businesses.
Top business concerns globally
Inflation and a tight labour market has led to 82% of businesses saying they expect to increase salaries in the next 12 months. However, there is a clear limit to what businesses can afford, with only 24% of businesses indicating they intend to offer ‘real increases’ over the next 12 months.
Despite these constraints to business growth, the desire among mid-market businesses to expand internationally remains high. The percentage of businesses expecting to increase exports over the next 12 months sees a slight increase to 45%, while 40% expect an increase in revenue from non-domestic markets and 41% expect an increase in the number of countries sold to over the next 12 months.
While 55% of businesses expect an increase in profitability over the next 12 months, up one percentage point from H1 2022, future business investment intentions are slightly down across the board. Technology investment is the top area businesses are focused on, cited by 57% of businesses (down from 60% in the first half of last year), followed by increased investment in staff skills at 53% (down from 55%), while investment in new buildings remains at the bottom of the list, cited by 36% of businesses (down from 40%).
Investment intentions
Peter Bodin, CEO of Grant Thornton International Ltd says, “The global economy has been hit hard by several shocks that are likely to result in recession in many markets around the world this year. However, businesses need to carefully consider how best to respond – scenario planning will be key: ‘If we cut staff, will we be able to meet demand when it returns? If we need short-term finance to see us through, will we able to access it and at what cost?’ Almost all responses carry consequences which must be weighed up.
“With uncertainty about the only certainty right now – focusing on resilience will be key for all business leaders. The focus on expanding internationally is a sensible hedge against domestic uncertainty – as long as it is properly planned and carefully executed. Hopefully the more significant shocks are now behind us and, as conditions normalise, which they show signs of doing – we all hope 2023 will be the year global markets finally return to some sense of normality.”
ENDS
*International Business Report
The Grant Thornton International Business Report (IBR) is a survey of mid-market businesses. Launched in 1992, the IBR now provides insight into the views and expectations of around 10,000 businesses across 28 economies.
Questionnaires are translated into local languages and fieldwork is undertaken on a biannual basis, through both online and telephone interviews. The data for this release is from interviews conducted between October and December with chief executive officers, managing directors, chairpersons or other senior executives from all industry sectors.
More information: https://www.grantthornton.global/en/insights/Global-business-pulse-methodology/