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Views of all the learned friends from business and professional community are invited to advice “how to handle business/profession after Covid 19?” and how to come out of it. We request you to provide your innovative ideas so that they can be helpful to others. We are quite hopeful that if we all come together and help each other, we will be able to overcome this pandemic.
In my opinion we must replan and reorganise our resources. We must recalculate our fixed & variable income and our expenditure. Keeping in view our savings and regular investment plans unnecessary expenses must be avoided.
Humme hamare expenses ko control karna chahiye. Koi bhi expense jisko linger on kiya ja sakta hai usse avoid karna chahiye. Apni savings ko better tarrike se invest kare taki maximum return with minimum risk mil sake.
I agree with the opinions expressed above and think that we must try to expand our business and services in more innovative manner. As professionals can try to venture into some additional area of practice which will not involve any expense but may get some additional income. Businessmen can try to add more products which are available on credit to increase their sales.
In addition to above we may be required to provide sell goods or services on credit due to non-availability of cash with our customers/ suppliers and in that case the bank funding may be helpful to us. After few months when the covid impact will be over or with the availability of vaccine the things will start moving on towards normalcy so we must take advantage of bank funding as per government schemes. As the government has made provision for repayment of covid funding in installments and that too with moratorium we must avail them but keeping in view our capacity to repay.
I have read all the above suggestions which are good. I have prepared a detailed chart of my expenses and income. Although in normal days we all have more income and less expenses and face no issues but keeping in view this pandemic and revenue during last three months I feel that my income/ collection or revenue may fall in coming months. Actually in my opinion the real impact on revenue will be seen in coming one year. Everyone is facing shortage of funds and that will create more problems.
In view of above we must do proper financial planning. We might be required to even postpone or defer our investment plans during coming one year to meet up the expenses. We must also try to curtail each and every expense and save more money because the coming one year may be difficult for us.
As suggested above by one of the friends we must strive to earn more income by providing additional services. If after doing all above things we still face some issues than we can go for availing short term loan but with utmost care and keeping in view the repayment capacity because ultimately it is to be repaid by us only.Dear friends, it is good to discuss the burning topic How to handle business after Covid 19…..it is really a optimistic and advance approach to think and discuss like this….according to me this word *after* must be replaced with the word *During*….now the question arises how to handle the business during Covid 19. In this regard the trading world has been changed and now we should have to come out with new approach and ideas. Online business and trading practises are more opted now a days… Rest one thing is very clear that it will take another 1-2 years to get rid of this panedemic completely and we néed to sit and decide every aspect of life in family and should have accurate and clear budget while taking into consideration our future savings and also something for the rainy season in life…..I know this is hard time but I learnt a lot from this….I have so many issues and topics now, to tell to my coming generation to keep in mind during their life, all those that I haven’t took into consideration. Be optimistic and have faith in you and discuss every idea or khurafaat with your loved one, which are coming in your mind to stay away from depression.
Let this year be a year of SURVIVAL only…..stay unite with your family and I am sure you can conquer this monster…Covid 19.
Stay home stay safe.Azad
I addition to as stated above there is one slogan of Commandos in ARMY…..
*AAP DARUST SAB DARUST*Azad
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