Protecting a business during a crisis
Protecting a business during a crisis is an urgent issue for today. Investment bank experts recognized the onset of the crisis. In their view, the economy has entered a stage of a likely protracted recession.
At the same time, they suggest that depression will not be as terrible for the economy as in 2009, but they express reasonable concern. What should entrepreneurs do in this situation to stay afloat?
FIRST STAGE DECLINE 2020
It is assumed that 2020 will bring from 0.9 to 1.5% of the growth of the global economy. This is lower than expected a few months ago, but more than in 2009 (then the increase was 0.8%).
At the same time, economists say that the periods dotcom and the decadent beginning of the 90s were more optimistic than 2020. They consider it necessary to take urgent anti-crisis measures in Russia.
Despite the fact that the Fed rates are lowered to 0.25% (many countries, including Russia, have done so), a number of countries have taken more meaningful measures.
For example, the USA will support the population with checks with a face value of $ 1,000, and Latvia will partially compensate sick people with people who have been left without work for quarantine.
Specialists see the danger in the global economy in the fact that many countries, unlike China, delayed the response to the spread of coronavirus, which would bring significant losses to the economy.
The situation is aggravated by ignorance about the duration of the quarantine and the number of possible human casualties.
It is no secret that the Russians will face serious trials, but they are not the first to be passed with dignity. We have recommendations on how to get around peak situations, and what actions should be started right now.
HOW TO CORRECT THE CONDITIONS OF LOST TIME
Some stages that are late, but come in handy in the next wave of the upcoming recession:
- liquid stock, they help out in any crisis;
- savings in various stable currencies, wait for the price to drop and buy dollars, euros and pounds;
- hedge against gold – it is reliable during any crisis;
- business needs to change the inviolable resource, calculated taking into account the increase in the value of the currency by one and a half times;
- in everyday life, it is not out of place to make long-term (for a month) supplies of food and water, but this is not a mandatory, but rather a preventive measure to calm down.
IT IS NOT LATER TO DO IT
Note that stabilizing actions can be divided into two levels: with quick results and in the future:
- Quick result
- sending people to quarantine, leave the most efficient and maximizing work;
- pay special attention to protective measures, remember that only one sick person can disable a team;
- bring your business to the Internet, make every effort to do this, use social networks, create your own website, and start accepting online payments.
- If you have not already done so, we will teach you how to open a merchant account for accepting payments from cards;
- analyze the possibilities of business transformation, so for a company producing alcohol, it is promising to start producing disinfectants.
- The benefits are obvious: at low cost, a good profit;
- look for the opportunity to sell services or products at the international level, even small transactions will be good support.
In order to easily accept payments from international clients, it is correct to open a foreign account. We will do it remotely in a week.
PROSPECTS ACTION. Protecting a business during a crisis
The crisis is not eternal, but after it a new one will come in time. This is the way capitalism works, and one must always be prepared for this. If you do not have time to organize, start today.
Now, while many are panicking, it’s useful to calmly concentrate and implement such a strategy:
- enter and gain a foothold in the foreign market, make every effort to find new partners and customers there;
- master B2B services that work online.
Promising in this area will be the decision to open not a nominal merchant account, but to create a system that will work for your partners. So in Russia, one recognized platform received a large influx of customers.
To open such a system, it is not necessary to have a developed technical base. The main condition for launching such a project is a financial license.
We take the stage of creating and launching the platform: obtaining a license, launching and technical support.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.