Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Business Ideas Forum
Business strategy
7 Business Strategies to Deal With Inflation
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Suba, post: 338789, member: 3658"] Inflation occurs when goods and services increase overall, which is often preceded by an increase in fuel. Although not all types of inflation can affect a country's economy, inflation that exceeds 20% is often a scourge for business people. The negative impact of inflation will occur, such as a decrease in sales, an increase in raw material prices, and then business profits will also decrease, even if the inflation percentage is higher, many businesses will close because they are unable to cover operational costs. However, business people do not have to give in to inflation, for this reason business people need a strategy to deal with inflation so that even if profits fall, the business will still run. The following are several strategies that business people can use to deal with inflation: 1. Practice Efficiency The first thing business people have to do is make efficiency in all parts, so that all costs can be reduced, if necessary, carry out automation to further reduce expenses. 2. Selling price adjustments If there is an increase in production costs or the cost of merchandise at a trading company, the sales price also needs to be adjusted or increased. 3. Storing Inventory If possible, it is necessary to store inventory before inflation occurs, especially for types of inventory that are not easily damaged or expire. 4. Create Innovation and New Variations or Product Diversification Businesspeople need to create innovations and new variations in their products, so that consumers have several price choices, usually in smaller sizes and cheaper prices. 5. Implement a risk management system Carry out several evaluations, analyze and identify the risk of inflation so that business people are able to minimize the risk of inflation in their business. 6. Improve relationships with Customers and Suppliers Improve relationships with customers so that they can maintain their trust in products and establish good cooperation with suppliers, so that they can save costs related to raw material supplies or merchandise inventory. 7. Safe Haven Investments It would be good if business people had safe haven investment instruments, as protection during inflation, such as gold, USD or EURO, government securities/government bonds, US Treasury, Defensive Stocks and Bitcoin. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Business Ideas Forum
Business strategy
7 Business Strategies to Deal With Inflation
Top