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How Does Covid-19 help in building sustainable business?
Every Business has got affected in one or the other due to present scenario of Covid 19 and has changed a lot of things, which were earlier present in business. Every business has to undergo changes if it has to survive the present uncertainty, which is looming over the globe.
Its not just about MSME its also about big corporates which has got shaken to the Covid-19. Business owners have literally come to stand still unable to keep business alive in the present scenario. Its not first time that this type of pandemic has changed lot of things in business world but the first time it has brought whole of the globe to stand still, though lot of crises have come and gone but this one has lot of uncertainty without any clarity as what things are going to be.
Many businesses have shut shops and some of the industries have come to halt and many are on the way to close. This pandemic has made even governments to think over to tide over this crises. As the saying goes when going gets tough, the tough get going, in this changing world nothing is constant only constant is change so every business has to change and that’s the only constant.
There has been sudden wave of shock, which has engulfed the consumer from luxuries to necessities, which has brought the demand to zero, which has affected every business. These situations also give rise to new things as human being has always found ways to tide over when he has hit wall, every business has to find ways to overcome to move forward.
This pandemic has also given way to growth for sustainable business, which were built on robust business models yes there has been dip in revenues but being alive is the biggest challenge every business is facing.
The changes every business has seen due to Covid-19 is very unfortunate but unfortunate things do happen so no point in cribbing over past, as the golden rule says in business every day is new day and you were good only till yesterday.
Business have to reinvent the wheel in order to be alive as when things change those business which survived will prosper again, this situation has given way to reducing your expenditures and focusing on increasing revenues.
Covid19 has given way to diversification of business both in product and service also ensuring is to be alive. Many businesses have come up with various options either by reducing or cutting down un wanted expenses, which were prevalent when things were good.