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We, the meihikyun team, hereby invite you for open discussion on the issue of “Business after Covid 19”. Our team has talked to various industrialists, businessmen, shopkeepers, professionals and government officers. We analyzed their views and feel as under:
-The big industrialist, though suffered losses, can bear the burnt. This is cash rich category or those persons who were having turnover and profits in crores and now their profits will be lesser.
-The medium businessmen are the biggest sufferer because their money circulation has stopped. They are not getting payments from buyers and need cash to purchase raw materials and meet up day-to-day expenses. They are biggest sufferers because they kept incurring the fixed expenses without any income. Their total yearly profits were less than their two/ three months fixed costs. These are mainly labour oriented businesses.
-The small businessmen and shopkeepers are also facing financial problems but they have managed the things because they were not incurring expenses. They were managing the business on their own or with the help of minimal staff and their fixed cost is negligible or manageable.
-Another category of professionals such as advocates, C.A., C.S. and other self-employed people. In this case also the freshers are the worst sufferers. They can’t seek help from any one due to dignity and hence, suffered maximum.
We request you to give your comments/ suggestions which would be straight from horse’s mouth and would enable us to exchange thoughts and ideas.In my personal opinion, those having Indian life style will come out of this problem at the earliest. The Indian life style of saving money for future, health, children etc. This habit of saving will again prove to be a savior, as it did during 2007 economic crises.
The biggest sufferers will be those who living a western life style of spending whatever they earn or those who feel proud in showing off more than, what they have.
During this corona pandemic, the whatsapp was flooded with messages which highlighted our Sanatan Culture and its scientific worthiness. In addition to those highlights, the way we do financial management is also a learning experience for the whole world.
I am sure that all the persons /businessmen following Indian culture and traditions will come out of this very soon.Although future is uncertain but still businessman mostly forecast the demand and start production. But in current situation, we are not able to forecast the same.
Small businesses are mostly fear to block there capital in production due to our of control situation. On the other side there will be dual impact of low purchasing power of consumer in future.
But China Biocot may leads to opportunity for the Indian Industry. I think we can’t deny the downtrend in short term period after Covid situation but in long run Indian Industry will be on its track with lot of FDI opportunities.
Dear Raghav
You are right in saying that the businessmen are unable to forecast their sale but at the same time businessmen have seen slump in business in past also. In the year 2007 also there was a economic slow down all over the world. Indian businessmen have sailed through many such problems and We hope, this time also they will come out of this phase vibrantly and successfully with bright colours. Rest assured this is a temporary phase and what we need to do is to be careful. Just produce goods as much you can stock and which does not burden you financially. This year everyone is required to meet expenses out of his savings because income will be negligible. Let us hope for the best and remain positive.No doubt labourer and daily wage earners have suffered during last two months but at the same time they have got employment back and that too at higher wages because of labour shortage. During these two months the government tried to help them by providing free food and financial help. So, in my opinion this pandemic is also a warning signal for them to save money for future exigencies. Actually we have started spending more in rat race. We started following western life style of enjoying luxuries on borrowed funds. Now it is a lesson for all to control their expenses and plan accordingly. In nutshell we must start living according to our sanatan philosophy to remain safe in future.
I know not much about market trends and economy but still I believe that we should keep patience and help each other specially the down-trodden class. We have realised that life can very well be led in minimal resources so we should not act in any haste. Wait n watch n act with prudence and extend helping hand to the needy. Everything will fall in line automatically.
What about those people who did not get a single amount of money from their employer if in this tough time employer will not help them then who will help ? Even these people are earning between 10k to 15k . If employer will not help them in tough time then who will help even some companies whose accounts are NPA they are giving 30.percent salary then what about the professionals CA CS CMA and in the filing season these are only employees who handle all pressure and workload . If there is need then people are going on job no body is interested to become a slave😡.
No doubt that everyone should try to help others to the maximum extent. Employers must understand that the employees are an asset of the company and treat them accordingly. As we take care of our valuable assets, same care should be extended but at the same time, the old saying “money makes the mare go” has proved to be correct once again. This time everyone is in need of money and no other thing could replace it. It is also a learning for all of us to start living the life as our ancestors did, meaning thereby the habit of living with minimal resources. Since, last few years we all started following western culture of spending whatever is earned and are facing problems due to that. Our culture was such that every person, whether he was earning 10k or 100k, used to save money to meet contingencies but we disregarded it. Whether you agree or not, but the truth is we started considering Sanatan Culture as orthodox and western culture as advanced. We never tried to understand the complexities and difference between the two and result of the same is before us. Even now the only thing which can save us is our Sanatan Culture and its traditions. Joint families and their emotional bonding is the way out. Just try to go back to our basics, leaving this blind race of so called modern culture, behind.
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