Finance How To Maintain A Business At The Time Of Financial Crisis?

[Good-Guy]

Each and every business endures such harsh conditions when it has to go through harsh times. Not every day is equal. Sometimes you make huge profits and sometimes you don't. Sometimes you have a good amount of capital to deal with financial problems and sometimes you are so badly affected by financial problems that you have to take loans in order to pay your other loans and also sustain your business during such times. The current times of pandemic is one of the biggest examples in the history. If I were to suffer from such kind of financial crisis, I would focus more on selling my products without making profits and sell them at the exact same price I bought them. I would never take loans. What about you?

 

[Chibson]

It is very important you have experience about how to manage your finances when you want to venture into any business because crisis like the coronavirus pandemic may arise and if you do not have experience you will lose out in business. I think the main reason a lot of people start businesses is because they want to make profit and I don't think anyone will sell his goods the same amount he or she bought it.

 

[Sherman198]

Maintaining a business when having a financial crisis can always be very hard cos to maintain your business while undergoing some particular problems in your business needs financial assistance....And if you are not proactive towards providing money to socour your business in that situation, your business may go down the drain.

 

[Chibson]

Maintaining a business when having a financial crisis can always be very hard cos to maintain your business while undergoing some particular problems in your business needs financial assistance....And if you are not proactive towards providing money to socour your business in that situation, your business may go down the drain.

financing is definitely very important for any business and my business that does not i have enough financial backing will not succeed. this is a reason why it is important for any business man to have extra backup in terms of money before venturing into the business. Financial management is also essential.

 

[Sherman198]

financing is definitely very important for any business and my business that does not i have enough financial backing will not succeed. this is a reason why it is important for any business man to have extra backup in terms of money before venturing into the business. Financial management is also essential.

Yeah you are possibly right.... Because financial back up gives us something big to rely during crisis in managing a business. Many people or many business owners have failed due to the utmost fact that they have nothing or little to fall back on. And when business crisis or predicament looms they started running helter-skelter. And that's why most people turn to loans.

 

[Chibson]

Yeah you are possibly right.... Because financial back up gives us something big to rely during crisis in managing a business. Many people or many business owners have failed due to the utmost fact that they have nothing or little to fall back on. And when business crisis or predicament looms they started running helter-skelter. And that's why most people turn to loans.

definitely it is very important for anyone who wants to venture into any business to have a very good financial back up. It is also very important for anyone who wants to venture into any business to employ a very good financial manager in a situation whereby he or she does not know much about financial management.

 

[Good-Guy]

definitely it is very important for anyone who wants to venture into any business to have a very good financial back up. It is also very important for anyone who wants to venture into any business to employ a very good financial manager in a situation whereby he or she does not know much about financial management.

The problem is that not all the people have capital and I am sure that the problem of capital is the only main problem when it comes to starting a good business. There are many other important factors such as location, experience, and expenses. However, once you have enough capital, you will be ready to experiment with business more. Experimenting more will give you confidence and experience as well.

 

[Dorcey]

Maintaining a business when having a financial crisis maybe difficult and mentally stressful and dis can make it very hard for a business owner to handle or run d business successfully cus every business either small, medium or large scale needs to be finance, manage a business needs financial source

 

[btaliat]

When there is no financial backing or during the finicial crisis, it may be difficult to contunue running a business. That's why it is better to be saving a business owner for days like this, as the poster said, all days cannot be the same. But if the worst comes to the worst, one can borrow loans.

 

[Good luck]

I think at a time like this one need to get a loan from financial institutions to be able to boost such business so that it won't die finally.I do say it that it is always good to add or get money from any co-operative to boost ones business,it will make the fellow to be more serious with the business and don't spend any how.

 

[Good-Guy]

I think at a time like this one need to get a loan from financial institutions to be able to boost such business so that it won't die finally.I do say it that it is always good to add or get money from any co-operative to boost ones business,it will make the fellow to be more serious with the business and don't spend any how.

I do not think that taking loan is the best option in such kind of situation because taking loan may increase the debt and it is never a good idea to increase your debt during the time of financial crisis. I would advise people to start small if they do not have enough capital. In this way, they will be in a better way to avoid financial crisis.

 

[Alexandoy]

In this pandemic era when it is critical to some businesses there are ways to overcome the adversity. The restaurants are harnessing the delivery system for their business to recover. But if the problem is the loss that debts are piling up then a cost cutting measure should be designed to control the outgoing of funds and to increase the incoming of funds.

 

[Yusra3]

In situations when the business is struggling or the economy is in recession, companies have to react very fast. Cut unneeded expenses and reduce operations of these expenses. Efficiency will be the first objective to watch out for. Consensate with the vendors’ terms of settlement and investigate on the new options of revenue. Partial sample closure and reduction in employees, where required but prior to keeping the best resources. Rarely miss an imperative to reassess your cash flow and also set aside contingency plans. Basically, always be transparent and honest in communications with your employees, clients and stakeholders. Thanks to the flexible attitude, financial prudence, and the solutions-oriented stance, companies can withstand even the eeriest destabilizing financial turbulences.