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|Business / Re: Free Forex Tutorials Come Learn How To Trade At No Cost by pija(m): 5:00am On Oct 30, 2020|
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|Business / Free Forex Tutorials Come Learn How To Trade At No Cost by pija(m): 6:11pm On Sep 21, 2020|
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|Business / Re: Forex Trade Alerts: Season 20 by pija(m): 4:01pm On Sep 21, 2020|
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|Business / Effect Of COVID-19 On Entrepreneur And Startup Ecosystem by pija(m): 9:19am On Apr 12, 2020|
In just a couple of weeks, the preventive measures for COVID-19 have already started showing drastic effects. In the last month the two major cities in Nigeria Lagos and Abuja announced emergency lockdown, and several other states are exercising lockdowns up to various degrees.
In the times where people need to stay indoors and away from each other, the challenges startups face, particularly the ones with a high physical engagement, are only increasing. The world post the coronavirus pandemic, where research for cures is on the peak, companies like Google and Zoom are coming through for entrepreneurs and startups, allowing them to leverage their tech solutions.
How the startups are more vulnerable
As a result of some of the preventive measures taken by governments worldwide to control the pandemic, small businesses, startups, and entrepreneurs have come out to be one the most vulnerable groups that have been directly affected by these measures. Whether it’s the preventive measures or the general chaos, COVID-19 has caused extreme disruption socially and economically.
Decline in productivity
most of the newly formed businesses and startups have been adopting the lean organization structure, which means more cross-functional roles. With facilities being shut down, even a small decrease in employees’ productivity can build up serious problems for the businesses.
Besides, these tough times also require additional time and attention on societal needs, such as to keep up with the global reactions and monitor possible development of the virus around the proximity. One also has to be more attentive towards personal needs like household concerns, taking care of the family, and ensuring the stable mental health of family and their own. No one can doubt these are tough and unprecedented times, but the cumulative impact of the loss of staff productivity spread over weeks and possibly months will be very tough to handle for businesses worldwide.
The supply-chain breakdown
With the global commerce community being more connected than ever before, it is not surprising to see that a lot of companies are also facing problems because they are unable to communicate with vendors in the red zone areas.
China is the world’s biggest market for industrial goods, mostly because of its cost-effectiveness, the practice of quarantine within the region is impacting businesses across the globe.
Closing down the premises
As part of the preventive measure, an increasing number of countries are practicing social and commercial lockdown, except for healthcare and other essential business. The closing down or restriction of running operations is profoundly affecting the performance of startups and other organizations. For a lot of small businesses, their management systems are either not adequately established to can’t be fully taken online. This is again turning out to be another reason for concern.
Even though authorities have ordered businesses to shut down their premises, and as part of the social distancing, employees are expected to function as a virtual workforce without letting their productivity drop, which is a bit too much to ask for, given the current situation.
The stakeholders come through for startups
There is no doubt entrepreneurs and startups are going to suffer due to this rising economic uncertainty. Besides, the United Nations has stated, along with other tragic consequences of coronavirus, the slowdown in the global economy will cost the world around $1 trillion within the year. However, with all that has changed in minimal time, it is imperative for the government, concerned authorities and leaders of the commercial and digital world, to come together for the more vulnerable community of entrepreneurs and startups.
The government provides support to create some ease in the time of economic instability
As the coronavirus epidemic takes over the world, entrepreneurs, organizations, and startups are looking at the government to offer some protective measures and financial tools to strengthen them to survive through the shock. And, in a lot of cases, governments have come through to support local businesses with some noticeable initiatives.
|Politics / Re: Names Of Occupants Of Osborne Towers Ikoyi Where $50m Was Found By EFCC by pija(m): 6:42am On Apr 19, 2017|
Great Job guys..sorry to say but it's looking like a PDP affairs..how much does an apartment there cost any idea??
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