believe in economic recovery

Why entrepreneurs must believe in economic recovery

Believe in economic recovery is the way forward – for entrepreneurs and everyone else.

Why do we say that?

Sri Lanka is facing unprecedented economic upheaval than ever before.

Everything from cooking LPG to fuel, food and power is in short supply. We spend more time in queues than we should be at work or at home.

Yet, in the midst of all of that confusion, one thing stands true and strong.

We must do the best we can in running our businesses. We must maintain a commitment towards ensuring economic recovery.

Is economic recovery possible? Do we believe in economic recovery?

Yes, although that is a big, really tall yes.

We can always start small. We can look at immediate short term gains, one by one.

Those gains can start with each and every one of us.

Let’s check the following to make sense of how entrepreneurs can contribute towards economic recovery.

Downscale but keep the business running –

While almost all businesses face challenges in staying operational, staying operational gives the business the opportunity to recover – even on a small scale.

It also keeps customers aware – and is likely to generate a certain amount of business.

We all have a small part to play in that walk towards economic recovery. Staying operational although small scale will help you generate an income towards managing costs like salaries and rent.

Stay in touch with your customers –

Letting your customers know that you are alive and well and that your business is open is important for survival.

Even in the midst of confusion, people still buy – perhaps the minimal and much less than they would under normal circumstances but nevertheless they buy.

When your customers know that you are open for business, their support will come and will also enable you to stay put.

Keep your customers informed of your operational hours and delivery options – stay connected.

Keep your supply chain active – use alternatives if possible –

One thing that needs to be done in the short term to keep the supply chain active is to use innovative and creative methods.

If cooking fuel is an issue, you can resort to various other options. There were stories of eateries that were cooking with firewood. Options are there and mist be explored ; although less convenient and may involve more hassle, alternatives will help you stay in business.

Ensuring your suppliers are active when you buy from them also means that they have business.

Staying active and working towards economic recovery also means keeping the network of business operations active.

Be determined to recover –

Our attitudes speak volumes in any struggle.

If we are determined to stay on top of what is going on, we can look forward to recovery.

We as entrepreneurs cannot give up too soon. Other countries have survived tormenting economic downturn – w can too.

We can look forward to recovery and understand that it involves every one of us.

We have many choices in this.

We can choose to stay open, minimise operations but stay active or we can choose to close down, go home and mope in one place about everything that’s going on.

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