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SME – Business Challenges while surviving COVID 19 PPT

The COVID-19 pandemic has had a unprecedented impact on small businesses worldwide, regardless of their location.

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SME – Business Challenges while surviving COVID 19 PPT

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  1. SME – Business Challengeswhile survivingCOVID 19 The COVID-19 pandemic has had a unprecedented impact on small businesses worldwide, regardless of their location.

  2. Consumerbuyingand spendingpatternshave changedforever Small businesses are shutting down and facing an existential crisis. The situation is especially severe for hotels, cafes, and restaurants, as well as fitness and wellness centers such as salons and spas, gyms, and other professional services. Stringent government regulations, serious financial struggles, and a loss of customer demand all played a significant role.

  3. Nontraditionalmediums arepickingup Ordering takeout or delivery and online shopping from retailers has become the new normal in this age of social distancing. Since the pandemic began, the “Buy local” slogan has been getting popular to persuade individuals to support local businesses. As SME’s planned to substitute in- person dining with deliveries, they needed to tackle questions about the earnings and viability of the move, including assessments of employee wages, auto insurance, and managing tips.

  4. Onlinepresenceisnowan absolutenecessaryforsurvival Small businesses going online is one of the most significant trends to emerge during the COVID-19 pandemic. Many businesses have begun to implement new e-commerce interface that lets them to create online stores. Previously, many businesses had no online presence. Undoubtedly, the internet remains a vital resource for many small businesses, allowing them to stay in business during the pandemic.

  5. Adopttechnology, suchas cloudaccounting This is an urgent requirement. Internet-based services scale to your usage with little to no adjustment, allowing businesses to handle more workloads. It also assists small businesses in lowering total costs because there is no need for infrastructure/hardware costs or hiring personnel to manage the software. This means that business owners can adjust resources more quickly to meet unpredictable demand.

  6. Thankyou! Phone: +61 437157610 Email: info@mymconsultancy.com.au Website: www.mymconsultancy.com.au Disclaimer : This is a generic Information & post; content about the services can be changed from time to time as per your requirements and contract. To get the latest and updated information, contact us today or visit our website.

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