How to Grow Your Business During and Post Lock-down?



Problems faced by Entrepreneurs, Business Owners
  • Businesses are Slowdown or completely shutdown
  • Operational Cost is unmanageable
    • Office Rent
    • Employee Salaries
    • Infrastructure Cost
    • Loans
  • Depression/demotivation
  • Uncertainty in Future
Let us look at the businesses during the lockdown across the globe. This is retail sales volumes experienced in Great Britain. During April, 14.3% of all stores described having zero sales. The most unsurprisingly severely hit were department store and textile, clothing and footwear stores.
ONS retail sales chart

Effects of the Problems (long term and short term)
  • Many Micro and Small scale businesses would shut down
  • Loss of employment to many countrymen
  • Poverty Ratio will increase
  • Economy will fall down
Proposed Solutions
  • Raising funds for MSME segment by Government
  • New lockdown with guidelines to operate businesses with precautions
    • Allow MSME to open their stores, factories with limited staff
  • New standards of living with Social Distancing should be imposed
Action points / Call to action
  • MSME: Use technology and digital platforms to keep your strong hold on your customers.
  • Govt. : Give relief to MSME Owners in terms of loans

Conclusion
This is indeed a novel situation across the globe and you should adopt an approach of 'from crisis to innovation' and work for a 'self-reliant' India.

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