The ongoing pandemic has placed many businesses in a precarious situation. With social distancing in mind, people are less likely to go out to do their shopping.
With that, a lot of consumers have shifted to online shopping. Businesses that have an online store are more likely to stay afloat.
This is because they can reach customers despite maybe having shorter hours. That’s aside from the predicted traffic decrease.
One of the avenues a business may take to improve on their reach is thro...
With growing differences between China and most of the other countries in the world due to the Coronavirus pandemic, there could be a big shift in manufacturing bases from China to other developing countries in the post COVID period. Some of the world’s large economies like the USA, Japan, and the UK, etc. have already initiated measures to shift their production bases from China to other parts of the world.
Fig 1- The Potential of Smart Manufacturing (Courtesy- Markets and Markets)
How well ...
We need to understand that every business, regardless of its stead, has been impacted by the pandemic. With the induced economic repercussions ranging across diverse industry verticals, smooth-sailing for most entrepreneurial ventures, even post-lockdown, is highly improbable.
Nevertheless, the dynamic nature of the global economic landscape has a snowballing effect on most businesses. This means that for businesses to grow and stay in the range of profitability, financial recovery is imminen...