COMPRENDER LA PROBLEMÁTICA DEL SECTOR EMPRESARIAL DENTRO Y FUERA DE MEXICO ANTE LA PANDEMIA COVID-19. IDENTIFICAR PRINCIPALES TENDENCIAS, ASÍ COMO RIESGOS Y OPORTUNIDADES. TO UNDERSTAND THE PROBLEMS OF THE BUSINESS SECTOR IN AND OUTSIDE MEXICO CAUSED BY THE COVID-19 PANDEMIC. IDENTIFY THE MAIN TRENDS, RISKS AND OPPORTUNITIES.

1. ENCUESTA GLOBAL DE RESILIENCIA DE NEGOCIOS
BUSINESS RESILIENCE GLOBAL SURVEY
NOVIEMBRE / NOVEMBER
2020

2. ENCUESTA ELABORADA POR / SURVEY PREPARED BY
EN ALIANZA CON / IN PARTNERSHIP WITH

3. OBJETIVO
COMPRENDER LA PROBLEMÁTICA DEL SECTOR
EMPRESARIAL DENTRO Y FUERA DE MÉXICO
ANTE LA PANDEMIA COVID-19. IDENTIFICAR
PRINCIPALES TENDENCIAS, ASÍ COMO RIESGOS Y
OPORTUNIDADES.
NÚMERO DE EMPRESAS QUE CONTESTARON LA
ENCUESTA
136
SEGMENTACIÓN POR TAMAÑO DE EMPRESA
53% PEQUEÑA
29% MEDIANA
18% GRANDE
PERFIL DE LA ENCUESTA
SURVEY PROFILE
OBJECTIVE
TO UNDERSTAND THE PROBLEMS OF THE
BUSINESS SECTOR IN AND OUTSIDE MEXICO
CAUSED BY THE COVID-19 PANDEMIC. IDENTIFY
THE MAIN TRENDS, RISKS AND OPPORTUNITIES.
NUMBER OF COMPANIES THAT RESPONDED THE
SURVEY
136
SEGMENTATION BY COMPANY SIZE
53% SMALL
29% MEDIUM
18% LARGE

4. EN DÓNDE OPERAN LAS EMPRESAS QUE
CONTESTARON LA ENCUESTA
17% NORTE, CENTRO Y SUDAMÉRICA
14% OPERACIONES GLOBALES
63% SOLO MÉXICO
2% EUROPA
2% ASIA
2% ÁFRICA
SECTORES ECONÓMICOS
27% SERVICIOS PROFESIONALES
17% COMERCIO
16% FINANCIERO
6% MANUFACTURA
5% BIENES RAÍCES
5% TECNOLOGÍAS DE LA INFORMACIÓN
5% EDUCACIÓN
4% SALUD
4% ENERGÍA
2% TURISMO
1% AGRICULTURA
8% OTROS
PERFIL DE LA ENCUESTA
SURVEY PROFILE
WHERE DO THE COMPANIES THAT RESPONDED
OUR SURVEY OPERATE
17% AMERICAS
14% GLOBAL OPERATIONS
63% MEXICO ONLY
2% EUROPE
2% ASIA
2% AFRICA
ECONOMIC SECTORS
27% PROFESSIONAL SERVICES
17% TRADE
16% FINANCIAL
6% MANUFACTURING
5% REAL ESTATE
5% INFORMATION TECHNOLOGY
5% EDUCATION
4% HEALTH
4% ENERGY
2% TOURISM
1% AGRICULTURE
8% OTHER

5. RESULTADOS
RESULTS

6. 1: ¿Cómo calificaría el entorno comercial
ACTUAL en el que opera su empresa?
1: How would you rate the CURRENT business
environment in which your company operates?
45% de las empresas encuestadas
encuentran las condiciones
ACTUALES de negocio como
MALAS o MUY MALAS. Este
indicador MEJORA en este mes,
pasando de 50% el mes pasado.
45% of surveyed companies find
the CURRENT business conditions
as BAD or VERY BAD. This
indicator IMPROVED this month,
moving from 50% in the last
month.

7. 2: ¿Cómo calificaría el entorno de negocios
PROSPECTIVO hacia los próximos
seis a doce meses?
2: How would you rate the PROSPECTIVE
business environment towards the next six
to twelve months?
45% de las empresas encuestadas
encuentran las condiciones de los
PRÓXIMOS 6 a 12 MESES como
MALAS o MUY MALAS. Este
indicador MEJORÓ, pasando de
53% en el mes anterior.
45% of surveyed companies find
the conditions of the NEXT 6 TO
12 MONTHS as BAD or VERY BAD.
This indicator IMPROVED, moving
from 53% in the previous month.

8. 3: En comparación con el MES ANTERIOR, la
condición general de su empresa es:
3: Compared to the PREVIOUS MONTH, the
overall condition of your company is:
34% de las empresas encuestadas
reportan condiciones de negocio
PEORES que el mes anterior. Este
indicador PERMANECIÓ prácticamente
sin cambio en relación al mes anterior.
34% of surveyed companies report
WORSE business conditions than the
previous month. This indicator
REMAINED virtually unchanged from
the previous month.
32% de las empresas encuestadas
reportan condiciones de negocio
MEJORES que el mes anterior. Este
indicador MEJORÓ, pasando de 28%
en el mes anterior.
32% of surveyed companies report
BETTER business conditions than the
previous month. This indicator
IMPROVED, moving from 28% in the
previous month.

9. 4: ¿Cuál es el MAYOR RETO para su empresa
en los próximos seis a doce meses?
4: What is the BIGGEST CHALLENGE for your
company in the next six to twelve months?
Tres principales riesgos
reportados por las empresas
encuestadas:
• Falta de demanda
• Falta de liquidez
• Falta de rentabilidad
(empatado con Disrupción en
Cadenas de Suministro).
Three main risks reported by
surveyed companies:
• Lack of liquidity
• Lack of demand
• Lack of profitability (tied with
Supply Chain Disruption).

10. 5: ¿Cuál es la MAYOR OPORTUNIDAD para su
empresa en los próximos seis a doce meses?
5: What is the BIGGEST OPPORTUNITY for your
company in the next six to twelve months?
Tres principales oportunidades reportadas
por las empresas encuestadas:
• Nuevos Mercados / Nuevos Productos
• Menor Competencia a Causa de la Crisis
• Mejoras en capacidades digitales y de IT
Three main opportunities reported by
surveyed companies:
• New Markets / New Products
• Less Competition Due to the Crisis
• Improvement in digital and IT capabilities

11. 6: ¿Qué tan probable es que su compañía
considere ADQUIRIR un negocio o entrar en
una ALIANZA ESTRATÉGICA en los próximos
seis a doce meses?
6: How likely is that your company will
consider ACQUIRING a business or entering
into a JOINT VENTURE in the next six to
twelve months?
38% de las empresas encuestadas
reportan que SÍ ESPERAN ENTRAR en
alguna transacción de M&A o Joint
Venture en los próximos 6 a 12 meses.
Este indicador MEJORÓ pasando de
34% en el mes anterior.
38% of surveyed companies report
that they DO EXPECT TO ENTER into
some M&A or Joint Venture
transaction in the next 6 to 12 months.
This indicator IMPROVED, moving from
34% in the previous month.

12. 7: ¿Cuánto tiempo cree que pasará hasta que
regresemos a la normalidad?
7: How much time do you think will pass until
we go BACK TO NORMAL?
43% de las empresas
encuestadas piensan que el
regreso a la normalidad tardará
ENTRE UNO Y DOS AÑOS.
21% de las empresas
encuestadas piensan que el
regreso a la normalidad tardará
MÁS DE DOS AÑOS.
43% of surveyed companies
think that the return to normality
will take BETWEEN ONE AND
TWO YEARS.
21% of the companies surveyed
think that the return to normality
will take MORE THAN TWO
YEARS.37% de las empresas encuestadas piensan que el regreso a la
normalidad tardará SEIS A DOCE MESES. Este es el mejor registro en este
indicador desde que iniciamos la encuesta.
37% of surveyed companies think that the return to normality will take
BETWEEN SIX AND TWELVE MONTHS. This is the best scoring in this
indicator since we started the survey.

13. 8: ¿Cómo calificaría la gestión de esta crisis por
parte de AUTORIDADES GUBERNAMENTALES?
(Promedie su respuesta para considerar niveles
federales, estatales y municipales)
8: How would you rate the management of this
crisis by your GOVERNMENT OFFICIALS?
(Average your answer to consider federal, state
and city levels)
85% de las empresas
encuestadas piensan que el
desempeño de las autoridades
federales, estatales y municipales
ha sido MALO o MUY MALO.
Este indicador no ha bajado de
85% desde que iniciamos la
encuesta en el mes de mayo.
85% of surveyed companies
think that the performance of
federal, state and city authorities
has been BAD or VERY BAD. This
indicator has not dropped below
85% since we started the survey
in May.

14. 9: ¿Qué posibilidades hay de que su empresa no
cumpla con algunas obligaciones contractuales en
el futuro cercano debido a la crisis pandémica (por
ejemplo, no pague el alquiler, no pague un
préstamo o no entregue ciertos productos o
servicios)?
9: How likely is it that your company will fail to
comply with some contractual obligations in the
near future because of the pandemic crisis (for
example, miss a rent payment, default on a loan,
or fail to deliver certain products or services)?
38% de las empresas encuestadas
estiman caer en incumplimiento de
obligaciones contractuales debido a
la pandemia. Este indicador LLEVA
TRES MESES por encima de 35%.
38% of surveyed companies
estimate that they will breach some
contractual obligations due to the
pandemic. This indicator has been
above 35% for THREE CONSECUTIVE
MONTHS.

15. 10: En su empresa, ¿cuántos casos de COVID se
han registrado al día de hoy?
10: In your Company, how many cases of
COVID have been recorded to date?
70% de las empresas
encuestadas reportan al menos
UN CASO DE COVID.
25% de las empresas encuestas
registran SEIS O MAS casos de
COVID.
70% of surveyed companies
report at least ONE COVID case.
25% of surveyed companies
report SIX OR MORE COVID
cases.

16. Las empresas encuestadas ven muchos más riesgos
que oportunidades actualmente:
RIESGOS
• CARTERA VENCIDA
• MENOR FLUJO DE EFECTIVO
• DESCONFIANZA EN POLÍTICAS PÚBLICAS
• DESEMPLEO A CAUSA DE LA CRISIS
• INCREMENTO EN CASOS DE COVID
• CORRUPCIÓN
• POLÍTICAS FISCALES INEFICIENTES
• DEBILITAMIENTO DEL ESTADO DE DERECHO
• POCA O NULA INVERSIÓN PRIVADA
OPORTUNIDADES
• TRANSFORMACIÓN DIGITAL
• MENOR COMPETENCIA
PRINCIPALES RIESGOS Y OPORTUNIDADES
MAIN RISKS AND OPPORTUNITIES
The surveyed companies see far more risks than
opportunities today:
RISKS
• PAST DUE PORTFOLIO
• WEAKER CASH FLOW
• DISTRUST IN PUBLIC POLICIES
• UNEMPLOYMENT DUE TO THE CRISIS
• INCREASE IN COVID CASES
• CORRUPTION
• INEFFICIENT TAX POLICIES
• WEAKENING OF THE RULE OF LAW
• LITTLE OR NO PRIVATE INVESTMENT
OPPORTUNITIES
• DIGITAL TRANSFORMATION
• LESS COMPETITION

17. NURICUMBO + PARTNERS

18. WE SUPPORT SENIOR MANAGEMENT IN THE
RESOLUTION OF SPECIAL OR CONFIDENTIAL
PROJECTS.
 Ideal to tackle those projects that are crucial
but sometimes difficult to deliver internally.
 Teams of highly experienced consultants.
 Our consultants have on average 20/25
years of professional experience.
 Reduced learning curve / More productivity.
 High degree of flexibility.
 Solid specialization in Finance, Audit, Tax and
Accounting.
 Big Four / Big Consulting background.
Who are we?

19. COMPANY
PROFIT
Our Firm at a glance
Key Facts Industries
• 50 CONSULTANTS
• MULTIDISCIPLINARY
• BIG 4 BACKGROUND
• INTERNATIONAL
EXPOSURE
• ACTIVE ACROSS MEXICO
• ABLE TO TRAVEL IN LATAM
• FLEXIBILITY
• BILINGUAL / BICULTURAL
Professional
Organizations
Our Service
Portfolio
• MANUFACTURING
• FINANCIAL SERVICES
• PROFESSIONAL SERVICES
• TRADING
• RETAIL
• ADVERTISING
• EDUCATION
• PRIVATE EQUITY
• FAMILY BUSINESS
• MEXICAN INSTITUTE OF
PUBLIC ACCOUNTANTS
• MEXICO CITY ACCOUNTANCY
BOARD
• MEXICAN INSTITUTE OF
FINANCIAL EXECUTIVES
• ILLINOIS ACCOUNTANCY
BOARD
• AMERICAN CHAMBER OF
COMMERCE
• EXTERNAL AUDIT
• INTERNAL AUDIT
• PART TIME CFO’S
• INTERIM
MANAGEMENT
• FORENSIC
• TAX
• TRANSFORMATIONS
• ADVISORY BOARD
For more information: www.nuricumbo.com
EY PWC. BBVA / BANAMEX ZIMAT CIT
METLIFE LESAFFRE
KPMG DELOITTE. INTERPUBLIC BOMBARDIER +GF+
GM KANDEO
1990 1995 2000 2004 2005 2010 2015 2020
Formal launch as
independent consultancy
Professional Experience
as Employees
History
Some of our interventions as
Consultants

20. Managing Partner of Nuricumbo + Partners.
His career started as Audit Manager with PWC Mexico. After a few years, he moved into the
advertising industry where he held Internal Audit positions with Y&R and IPG, two international
advertising groups, working in New York City for five years. He returned to Mexico as CFO for
the New Business division of McCann Group Worldwide. Started his career as independent
consultant delivering audit work for several multinationals in Latam and leading several fraud
investigations in Mexico. Won a contract with Bombardier Transportation to work for three years
in Canada and Europe on a financial transformation initiative. Worked with the American Consultancy RGP as their Country
Manager.
Today, Nuricumbo + Partners is specialized on subjects such as financial due diligence for M&A, internal and external audit,
independent process assessments, debt/equity solutions, on-demand financial talent, anti-corruption initiatives, enterprise risk
management, and corporate governance. Nuricumbo + Partners have become trusted business advisors for companies of all
sizes, providing direct support to CEOs and CFOs in special or confidential projects.
Armando has held different positions at the Mexican Institute of Public Accountants, including Vice President of the Business
Sector, President of the International Affairs Committee, and Member of the Audit Quality Control Committee. He is member of
Editorial Committees at Mundo Ejecutivo and AAPAUNAM. He is Treasurer and Board Member at the British Chamber of
Commerce, as well as the Anglo-Mexican Foundation. He was President of the charity Amistad Británico-Mexicana. He is
member of the Mexican Institute of Financial Executives. He has been Board Member or Comisario at many companies. His
opinions have been referenced by El Financiero, Reforma and Canal 40.
Armando graduated as a public accountant, Summa Cum Laude, from the National University of Mexico (UNAM). He is certified
in Mexico by the Mexican Institute of Public Accountants and in the U.S. by the Illinois Accountancy Board. He has a Masters
Degree in Asian Studies by the University of Tamkang in Taiwan. He recently completed the program “Leading Professional
Service Firms” at Harvard Business School.
Armando Nuricumbo
Managing Partner

21. Apoyo cierre de año
RECURSOS TEMPORALES PARA PROYECTOS ESPECIALES
Nos especializamos en áreas
de contabilidad, impuestos y
finanzas.
Recursos con amplia
trayectoria en empresas
multinacionales y ambientes
complejos.
Esquema altamente flexible que
permite atacar proyectos
especiales de forma rápida y
efectiva.
NUESTRA PROPUESTA DE
VALOR
Nuestros recursos pueden atender proyectos especiales con alto profesionalismo y
confidencialidad. Pueden trabajar bajo modelo implant para proporcionar capacidades
adicionales por el tiempo estrictamente necesario, y son un excelente back-up en caso de
rotación de personal clave dentro de su organización. Mayores informes:
contacto@nuricumbo.com

22. COMPANY
PROFIT
More Information: contacto@nuricumbo.com / www.nuricumbo.com
First-hand knowledge of
business environment
Our business DNA is Mexico. Our
Firm has extensive experience
working with multionationals and
local companies all across the
country.
40+
1
20+
Translators of local
language and culture
We can facilitate productive
cooperation between parent and
subsidiary. We understand
corporate requirements as well
as local business practices.
We can be your eyes
and ears in the field
Taking the correct business
decisions is never easy. We can
provide you with the business
intelligence you need to be
successful in Mexico.
ROME
Do you need support with your operations in Mexico?
Mexic City
Multi-disciplinary consultants
Average years of work experience
Objective: Supporting your Company
What can we do for your company
- Interim Management - Fraud Investigations
- Financial Due Diligence - Business Process Outsourcing
- Debt/Equity Solutions - Trust Management
- Tax Advice - Special Audits

23. WHAT WE THINK
Winning an election does not resolve our problems
The reinvention of big global cities
North America: From shared prosperity to failed state
Who will win the U.S. elections?
Will we avoid another lost decade?
Inequality is not a good business
The Lebanese mirror
Wirecard, external audit and the public interest
OUR YOUTUBE CHANNEL
Walter Buchanan: US Elections 2020
Vestiga Consultores: Información y pandemia
Historic Lessons of the 1918 Pandemic
Willingness to Pay & Value Stick
James Francum – Perspective from Germany
Toshiyuki Yasui: Chief Happiness Officer
Antonio Prida: Mediación
Oscar Becerril: Cómo superar COVID-19
OTHER
Encuesta Resiliencia Económica: Octubre 2020
Riesgo Global: Relación Estados Unidos - China
Ranking Empresas Zombies Mexico: Q2 2020
Mexico’s Top 25 CFO’s of 2017
¿Por qué medir la confianza económica?
Perspectivas internacionales 2020
Nuricumbo + Partners in the Media

24. Estamos a la orden para profundizar
sobre cualquier aspecto relacionado con
la encuesta.
We are at your service in case you require
more information about any aspect of the survey.
contacto@nuricumbo.com
Muchas gracias
Thank you very much