How to not let political and economic instability affect your business.

[TOZZIBLINKZ]

When a country or region's economic and political sectors are unstable , this is considered to have negative repercussions and results under people concerning their business and financial welfare . political and economic instability is absolutely bad because when it occurs the government of such country or region tend to lose interest of In it people and citizens but rather channel their attention towards the fight that was started within them . So as a business owner what are some of the measures and ways that you can use to make sure that your business never become affected by economic and political instability caused by the government of your country or region .

Continue to keep your mindset as a business owner , do not be sidetracked by any intentions on actions to join the government in fighting anything , and though they may be little money in circulation continue to keep production and business activities going . Cost of production may also increase in the situation of political and economic instability , and in situation like this , it is advised to cut down on some production , sales , and rendering of a particular product , goods , or service that customers and clients and not likely to buy or been rendered to . But rather focus your available business resources on the production , sale , and rendering of products , goods , and services that customers and consumers are likely to buy and purchase , some of this goods or services include customer and essential goods and services that are very vital to an individual survival .

 

[Jasz]

Political and economic instability can wreak havoc on businesses, but there are some practices you can adopt to help protect yourself from the worst of it.

One thing you can do is reduce the number of people your business relies on. The less people you rely on, the smaller your company's footprint, which means that if something happens to one person, it will be a lot easier for the rest of your team to pick up the slack.

You should also look into ways to automate some or all of your operations. If politics in your country are especially volatile, there may be times when you have less access to basic resources like electricity and internet, so finding ways to make your company more self-sustaining as possible is always a good investment. This goes hand in hand with reducing the number of people you rely on—if you need fewer people, then having fewer people at any time won't necessarily impact your operations as much as it might otherwise.

One last thing is to try to "future-proof" your business by adjusting certain policies now to make sure they will be more effective in the future. For instance, if you've never thought about implementing an emergency closure policy, now would be a great time! That way if something does happen unexpectedly you would have something to fall back on.

 

[sincerem]

Their is no doubt to what you've said so far, when the country is unstable due to economic instability, recession and whatsoever, it affects the flow of business in the country. But that doesn't mean the business owners wouldn't succeed, no. Definitely when others increase their own products prices due to the high price of commodities elsewhere, and through inflation, you wouldn't have any choice too, but to increase yours to balance the equation. Because you can't be selling at loss, so you wouldn't crumble and lose out on your business.

 

[Ithedicious]

Normally, every business organisation that is operating within a different parties of government should always try as much as possible to be politically neutral , because taking sides in one political parties against the other may have a very serious effects in your business.
I can't even try that when establishing a business but I will always try to make sure that my business remain politically neutral.

Even if I have to vote as the business owner, I will just went to the voting polls and cast my vote and went out without making it known that I really take part in certain political campaign or standing against the other.

This is not the right approach for business because it will definitely have a serious consequences in your business and when a lot of people understand that you are standing against their own party and so on , it could likely leads to problem that could have been avoided which at the end of the day will have a negative consequences in your business.

Omo personally I don't really have time for any political activities, for now I'm just concentrating to make my money and if there's a way I can be able to make my money I will try to do it.