Follow us
News and latest updates in the Accounting and Tribuatry area
In this section we keep you informed on issues related to the External Audit, Accounting and Finance, Taxes, Legal, Human Talent, in addition to current issues
KNOW ABOUT THE “FINANCING MECHANISMS FOR SMEs THROUGH THE STOCK MARKET
The Superintendency of Companies, Securities and Insurance, through the National Securities Market Intendency, with the support of the Espol ESPAE Business School and the Ibero-American Securities Market Institute, organizes the event “Financing Mechanisms for SMEs to through the Stock Market. International experience". The online event will take place on Thursday, August 27 at 5:00 p.m. and will be broadcast on Facebook Live through the “Superintendency of Companies Ecuador” fanpage.
The event aims to put in context of the participants, the international experience on the initiatives and efforts of different countries of the region to seek effective and innovative financing mechanisms for the access of SMEs to the stock market, considering that SMEs constitute most businesses are in operation and have a considerable impact on employment figures of up to more than 60% of GDP in some cases.
MANY COMPANIES WILL NOT SURVIVE THIS COVID-19 PANDEMIC
To survive the crisis, your company needs to think in parallel on three time horizons: analyze today, tomorrow and what follows.
THE TODAY
It is the quarantine stage in which the objective is to adapt quickly to survive. The company is between the "jungle of COVID-19" and the "jungle of financial crisis." Navigate "unknown land", an unknown territory that does not appear on the maps.
At this stage, most companies are "drawing water from the boat", from the liquidity hole that has caused the financial crisis. The coronavirus crisis is like entering a long, dark tunnel (the tunnel of uncertainty) that will take you to a new place. Although, we don't know how long that tunnel is, or how deep the water is.
THE MORNING
Tomorrow is the next 90 days after we come out of quarantine (an uncertain date for most countries). This is the "rebound" stage, when we are allowed to leave our homes again and demand returns little by little.
To survive, your company should have two crisis teams. The first is the one that most already have and focuses on short-term actions. The second is what we call the agile strategy team, which most companies do not have, this is focused on gathering market intelligence, reviewing the scenarios that they could face in the coming months, restructuring the debt and exploring opportunities, as well. as, strategic plays.
WHAT NEXT
The stage that follows is that the company must reinvent itself for the “new normal” that will come after the crisis. This period can happen between 3 to 12 months after the rebound.
We should not expect that when the COVID-19 pandemic passes we will return to the reality of 2019. The challenge we will face will be a “new normal”. In this unprecedented new reality, we will witness a dramatic restructuring of the economic and social order in which business and society have traditionally operated. The crisis opens the possibility for customers, markets and ecosystems to shift to a new equilibrium. Some new behaviors forced by the crisis will likely remain as new habits after the pandemic has passed.
Conclusion:
These three stages your business must navigate through crisis, today, tomorrow, and beyond will certainly overlap and will not necessarily happen in a linear fashion. Likewise, it is possible that you have advanced to a stage and circumstances force you to return to an earlier stage.
COMPANIES MAY CANCEL THEIR CONTRIBUTIONS IN TWO QUOTAS WITHOUT CHARGES
Superintendency reminds companies that they may cancel their contributions in two installments without surcharge, this year
The Superintendency of Companies, Securities and Insurance reminds users that through Resolution No. SCVS-INAF-DNF-2020-0007 of April 15, 2020, it provided that for the only time, The companies subject to the surveillance and control of this entity that are obliged to pay the tax for fiscal year 2019 payable in 2020, may make the same in two installments, as follows:
a) 50% of the value of the contribution will be paid until September 30, 2020.
b) The remaining 50% will be paid without surcharge until December 31, 2020.
Notwithstanding the provisions, companies may cancel the total value of the 2019 contribution, until September 30, 2020.
Publications
