THE COVID19 PANDEMIC - HOW YOUR SMALL BUSINESS CAN SURVIVE

COVID19 has had a profound impact on the world so far, and its consequences will gradually come to the forefront of the world's economic and social landscape. Even though every business segment is affected by COVID19, but it has been more devastating for SMEs. And sooner or later, as long as the COVID19 is under control, many SMEs will not be able to survive except for those who adapt themselves to the changing economic conditions of the world.

Have you made any plans on what to do when this epidemic comes under control? If you haven't done so do it now, get your plan on paper. Create strategies and when this pandemic is over, immediately start action according to strategies and planning.

Here are a few things to focus on:

• Re-build your entire process and supply chain maps and put them on paper.
• Check out how you can get liquidity from low to high to manage regular and monthly expenditures.
• Many of you who have finished products, start planning quick delivery of those products. Notify your distributors and buyers and substitute clients.
• If you have the extra raw material, be prepared to make finished products in the shortest time possible.
• Keep in touch with your buyers and do all the planning for the delivery of finished products.
• If you have more material than you need, get in touch with nearby businesses who are interested in buying it.
• Create a new business plan for your existing business and plan for it if you want to launch a new service or launch a new product in the future.
• Keep connected to the vendors and suppliers
• Make sure you have an online presence and stay in touch with your customers
• Look for many new opportunities to come in the coming days, and prepare now to take advantage of those opportunities.
• Support your employees in the current situation
• Be aware of government announcements regarding business regulation
• Continue to follow the directions of various government departments
• Take care of your health, exercise regularly
• Meditate for peace of mind and for concentration