Staying Connected, Stronger Together.
We understand that connectivity is more important than ever right now and we want to let you know that HSBC banking services are always within your reach.
Whether you are working remotely, at the office, or in other locations, our relationship managers and digital services mean we are always here and available, keeping you connected with your finances and to the advice you may need.
In that regard, here are a few ways in which we may be able to help you today and going forward.
Getting the support you need
Your Relationship Manager: please do contact us as usual, if you have any questions. We are ready to help anytime, alongside our product specialists
Credit and Cashflow: We know how important this topic is and we are here to discuss your needs, alongside our specialist product teams, and to offer guidance and support where needed
HSBCnet: Just a click away, it can help you manage your trade, payments and FX securely anytime, anywhere without having to visit a branch. Explore more
HSBC Navigating Business Series: We will be hosting weekly webinars to help you navigate this challenging environment, helping you to transact digitally and have access to our senior and sectorial-based expertise
During this time of heightened concern, it’s important to be especially vigilant against those seeking to commit fraud. We urge all of our customers to remain secure and alert. HSBCnet has many features that will help to ensure you transact securely
Be assured that the size and structure of HSBC means you can depend on us to support you seamlessly from multiple sites, while special measures we have put in place for these unprecedented times ensure critical processes are always maintained.
We have been supporting our customers, staff and wider communities for over 150 years. HSBC’s values are about being open, connected and dependable and we believe that during challenging times, these values are more important than ever.
In a fast-changing situation, it’s important to have a plan in place.
Here are our five suggestions, providing a guide for your firm.
1. Look after employees and their families
- In an effort to halt contagion, employees in affected countries have been unable to work from their regular workplace.
- Ensure you can contact your staff and share information at short notice. Have a business continuity plan which enables remote working.
- Consider technology to enable this, such as video conferencing, through company or personal computers.
- If necessary, split teams across multiple sites or rotate office-based staff with those working remotely.
- Follow World Health Organisation, governmental and public health official updates - and keep employees updated.
2. Review your supply chain
- Following the 2011 Fukushima nuclear disaster, global car manufacturers discovered a significant supplier dependency when one company producing 40% of the world’s microcontrollers had to close a plant.
- You can unearth hidden dependencies through reviewing your supply chain from end to end, identifying your suppliers’ supply source down to component level and understanding who your customers sell onto.
- Undertake a risk assessment of contractual commitments and potential use of clauses relating to unforeseeable circumstances, by you or by your buyers and suppliers.
- Identify and connect with alternative supply options, right down to the component level.
3. Logistics and distribution
- Enforced office or factory closures and disruption to transport services – including roads, ports and loading facilities – could impact on goods being delivered and documents being processed on time.
- Map your dependencies, ensure you have visibility and a plan for disruptions – for example, using air freight in the event shipping is restricted.
- Anticipate disruption to service providers – from legal services to customs checks.
- Consider implications right across your operations - from sourcing to production to distribution.
4. Build resilience
- Replicate this exercise to plan for other potential disruptions – such as natural disasters, political instability or cyber-attack.
- Develop response protocols and internal chains of command for each scenario.
- Contingency planning for different scenarios will stand any business in good stead.
5. Manage financial risks
- Prepare for changes in market conditions including demand, price, and foreign exchange volatility.
- Stress test your working capital, as flows of goods and services are interrupted and consider any support you may offer your suppliers.
- Where necessary, build your inventory selectively and consider insurance requirements if interruptions occur.
- Speak to your bank about immediate support and building resilience against potential disruption.