Small Business ‘at the breaking point’ due to Pandemic & Its Elixir

When a sea wave comes, it ravages somehow, But leaves an amazing ‘pearl in oyster’ behind

If you are a small business owner then lock your apprehensions. And open the best-suited remedy box for you from this blog and start healing your wounds. Although, the wave of pandemic has hit hard every sector of the economies; it has not spared Small Business sectors as well. Ispo facto, it is among the hardest-hit sectors of economies. COVID-19 has functioned as an X-ray showing the fragile skeleton of markets and businesses. The sweeping virus has exposed the grim realities of the “Capitalistic” culture and “Free markets” as also mentioned by Secretary General of UN.

Small businesses are facing abysmal intricacies such as, lower levels of supplies, business shutdowns, decreasing levels of revenues, burgeoning expenses, and lack of technical facilities, insufficient capital and lot more.

Moreover, current statistics are indicating a horrific picture of small business’ decline and demand for meticulously-planned policies for mitigating and compensating the small business’ plights, motivating small owners, inspiring small entrepreneurs and bolstering the economies.

What’s the point of worrying then, if you are a born-fighter? After the fatigue of all-over-swept pandemic and its miserable impacts on small businesses has left a “pearl in oyster” behind by hatching new small business ideas as well as their solutions. So, to all born-fighters, here is the elixir to counter the problems and to help bridge the divide of incomes as well as become successful.

• Adapt changing business Patterns

Small businesses are inflicte through the pandemic and are paying the highest cost in return. Business shortfalls during lockdowns, aggravating costs and lower level of incomes ergo. They have to adapt modern business dynamics and follow the flow.

As per the recent statistics, businesses and economies of the under-developed countries would be gruesomely inflicte and consequently, large number of people would be unemployed and hinting towards a “hunger pandemic”.

Therefore, the most suitable business pattern is tech-based mediums, web-based services and deliveries. So, hit the nail on the head and follow the changing business patterns to become successful and soar up the income.

• Work from Home, Serve from home and Earn from home

One of the widely-embraced notions for the businesses, maintaining lenience is the “Work from Home” strategy.  All the businesses, ventures and organizations are reverting towards this distinctive strategy.

Small businesses must opt for this method to keep their business running on the track and earning their revenues. Where highly prestigious organizations, education sectors and Multi-national companies (MNCs) are working from home and are not being affecte by this pandemic then small businesses must not stay behind.

So, hold a scissor, trim the obstacles by serving from home and earning from home.

• Ride on the Online horses

Where universities like Oxford, Cambridge and Harvard have gone online for a year, MNCs have turned to web-based services, even the international meetings of UN and OIC have also reverted online; there, the small business platforms are trying their best to jump on the bandwagon.

Seeing the unflinching miseries caused by COVID-19 has increased the significance of riding on online horses. All the developed and underdeveloped countries are going online.

Such as, in Pakistan, various small business owners are enough motivated and inspired by the “online drive” for instance, ‘Buttercups’ selling cookies and cakes, ‘Food panda’ delivering meal, ‘AkhrotClothing’ offering clothes and dresses as well as ‘BooksOnlinePk’ are selling books online. These small businesses are not only earning online but also handing jobs to the delivery-men to sustain during stiff junctures.

• Operate Under Standards of Procedures (SOPs)

Various regions have intended to open their sectors with laying appropriate standards of procedures such as, China, Pakistan, Kingdom of Saudi Arabia and other Arabian countries. The main agenda revolves around the fact to support businesses and save small business sector from being topple down.

These SOPs are comprised of rules i.e.

• Wearing masks by every worker
• Washing hands frequently by staff
• Maintaining distance among employees almost 6 feet
• Avoiding extensive gatherings
• Using disinfectants
• Ensuring clean working environment for the working lot

Idea of operating under SOPs is one of the smartest approaches to support the small businesses and secure jobs of the workforce. It motivates them to become successful and unfurl the flags of developments.

• State-level Programs for Rescuing Small Businesses

Another remedy to rescue the small business ‘at the breaking point is, Governments should initiate the programs for saving the Small Business ‘at the breaking point from collapses. When a small owner intends to go online continuing its business operations. Then a huge level of funding is required to bring the business statures online.

If states and governments offer them subsidies, interest-free funds and network support then it would become boon for small owners. Deep inside, small owners would not feel left out and governmental support would uplift their confidence to stand on the foot again.

Crux revolves around the fact that small business is ‘at breaking point’ and inflicted by the pandemic as well as requires an elixir to come out of the ‘Pandora of problems’. Ergo, solutions are discusse in this blog for securing and supporting “small business” sectors around the globe.

• Adapt changing business Patterns
• Work from Home, Serve from home and Earn from home
• Ride on the Online horses
• Operate Under Standards of Procedures (SOPs)
• State-level Programs for Rescuing Small Businesses

We would be oblige to know about your best-fitted elixir ameliorating your small business. So, let us know in the comment box about it.