The rapid escalation of the coronavirus (COVID-19) outbreak is prompting unparalleled responses by governments, financial institutions, companies and individuals across the European continent and around the world. As the voice of the private equity and venture capital industry in Europe, Invest Europe is reacting quickly, accelerating measures that will enable us to continue to support our members fully through this crisis.
Our priority, as always, is to protect our staff – and those of our members and partners participating in our events and training – while ensuring that the industry has the support it needs to safeguard businesses and portfolio companies.
As governments around Europe consider measures to limit social interaction in an effort to contain the virus, many companies are taking exceptional measures to protect staff and their families. In line with these steps, Invest Europe’s office in Brussels closed on March 17, with all employees working remotely until further notice.
Invest Europe has secure IT infrastructure in place to enable staff to perform their roles remotely in complete confidence. Office phone numbers are automatically redirected to alternative lines. All business travel and face-to-face meetings are suppressed until such time as guidance changes.
Invest Europe remains committed to providing the same high standard of day-to-day service to members. And our work to support our industry continues uninterrupted.
In response to the growing crisis, Invest Europe introduced a new library of resources in March to help members understand the potential issues arising from the coronavirus outbreak and manage the impact on their own operations, as well as at portfolio companies.
We continue to update this library regularly with new resources. In addition to publications from consultancy firms, financial institutions, public institutions and others, we are adding reports from law firms that provide advice and updates on managing issues related to liquidity, transactions and human resources. We have incorporated an RSS feed to alert members when we add new reports to the library.
We also ask you to contact us with any relevant articles or reports you think could help fellow members.
While governments across Europe are rightly focusing on the health crisis and placing the necessary restrictions on gatherings and business activities to protect the public, many companies, their staff and suppliers are facing great financial uncertainty. Invest Europe is working on multiple fronts to ensure that the political crisis responses also take into the account the serious economic implications.
Among our actions, we are engaging with policymakers and alerting them to the impact of coronavirus on our industry and portfolio companies, particularly small and medium-sized enterprises (SMEs) across Europe. We are also working closely with other associations from the financial industry and representatives of small businesses to coordinate our response.
We continue to hold regular Members’ Policy Calls to update members on Invest Europe’s key public affairs activities, including our latest initiatives on coronavirus.
Over the past few days, EU institutions as well as many European countries have taken policy measures to respond to the economic impact of COVID-19. Some of these measures are specifically designed to help the companies you support.
For your convenience, Invest Europe has prepared a member guide, which can help you find more easily the steps that have so far been taken in the respective European jurisdictions. Given that additional measures are expected as this crisis will continue to unfold, our team will regularly update this list in the coming days.
In light of growing health concerns and restrictions on movement and gatherings, we have taken the decision to postpone all events and training courses until the end of May. Please find a current list of rescheduled training dates below:
In addition, Invest Europe Chair’s Dinner in Paris on 28 April will be postponed until further notice.
Dates: 13 & 14 October 2020
Venue: President Wilson Hotel, Geneva
Dates: 14 & 15 October 2020
Venue: President Wilson Hotel, Geneva
At the current time, there are no changes to the training and events programme from June onwards, including our CFO Forum which is scheduled to take place in Nice on 11 & 12 June. We will continue to monitor the situation closely and will update members and attendees if the situation changes.
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