How do you cushion your business against negative financial losses

[Trexxxy]

We have all seen the covid 19 impact on businesses across world . Some businesses have actually thrived and shatter their profit margins. Companies with industrial capacity across different sectors have made it big time, I know of companies during the covid that were allowed to run because they produce essential materials like food products and medical materials etc. While some other companies simply cannot recover from the financial implications of shutting down due to covid.
What are some the measures you can put in place to avoid or cushion against negative financial implications?

 

[Josemendez]

The covid-19 pandemic was an unexpected outbreak which affect many companies . The fact is that there are some companies that can never run away from similar outbreak due to the nature of their work.

 

[Ridorz]

Covid-19 is a memorable for world, it makes some company/organization rundown totally while some or animation are still managing to stand back. The question you asked make many people lose their job while the company could not able pay their salary. So, organization reduce the its employees in which to reduce the salary paying.

 

[Dubai]

In order to avoid financial lose in your business then you must have a good business plan. Make your budget before venturing into it. Ensure you dont make unnecessary spending at all time during the during of your business. Also, you have to observant to there is no wastage of materials in what ever you do.

 

[Alexandoy]

I have no business right now but if I have one and I had anticipated the pandemic then more likely I would cut down on the expenses in my business. It would be sad that the employees will be directly affected but it is better then closing the business. I would not dare to continue operating at a loss. For the business to survive it needs more production or sales and less expenses. That is the best antidote to neutralize the receding economy.

 

[Presido]

Covid19 pandemic came when no one was even expecting and that's why it really had financial implications to some companies, but at the same time, business shouldn't close down after the pandemic, I'll advise they should just reduce the number of employees until they recover fully from the implications of the pandemic

 

[Nurudeen]

The best to avoid losses in your business now adays is to move your business online. We all see how the pandemic dealt a huge blow on different offline Business and makes the business owners loss some tangible amount of money. If most Businesses are online it will be easy to operate and run

 

[chalcedony8]

financial losses in business can not be predicted and most times it is inevitable, most times it happens due to wrong investment, gongbinto business with bad or wrong people, it can also be a fault from staff, and most times taking loans too might later lead to financial loss.

 

[Tunnexisco]

Measu

We have all seen the covid 19 impact on businesses across world . Some businesses have actually thrived and shatter their profit margins. Companies with industrial capacity across different sectors have made it big time, I know of companies during the covid that were allowed to run because they produce essential materials like food products and medical materials etc. While some other companies simply cannot recover from the financial implications of shutting down due to covid.
What are some the measures you can put in place to avoid or cushion against negative financial implications?

Measures to put in place to cushion against negative financial implications during this rampant Covid-19 Pandemic is to systematically opt in for an online marketing, thereby allows for internet advertisements to enhance rapid customers patronage during this era.

 

[Erik4150]

Corona virus was a surprise in 2020. Many business lost money even the big companies had to lay off many workers.
That is why government should support small business owners with funds to cushion their financial loss.
That is the only way to help some businesses from crashing.

 

[Ojonuyo]

To prevent financial bankruptcy from your business in the days of economy crises such as covid-19 pandemic, means planning ahead of time. Most business that were affected by the pandemic did not plan ahead, they were mainly living base on the present and working with the mindset of nothing could go wrong. And when they least expected the shocking wave of covid-19 pandemic took them by surprise. Planning ahead is the key to prevent such happening.

 

[Ralphjoe]

We can cushion businesses to cushion against financial losses by some of these methods;
1. Maintaining great financial discipline in the business
2. Cutting all forms of cost in the business.
3. Conducting research in any product development to know how well the product will be accepted by the target market before it's produced.

 

[Adexgrace]

Negative financial losses should be shuned and caution because it hinders and hampers the growth of business. Negative thoughts should be cautioned for the success and higher positioning of any country. To yield more positive financial output.

 

[Mary]

The covid-19 pandemic came just like a thief in the night, it caught everybody unaware and that's why the impact was felt among all nations, all businesses and individuals. The best thing at the situation is to reduce the member of staffs numbers

 

[chicnthin]

This pandemic has really affected us all, BIG TIME. It's unfortunate that this happened to us. I don't have any business but for me stop having a financial loss or lessen the loss, I would have to cut dowm my expenses. Starting with operational expenses and the salary expenses. The employees will be greatly affected by this but there's not much of a choice, really. Terminating employee is not what I have in mind, I'd just lessen the work hours/days.

 

[Sincerem]

When you have business strategy, plans ahead of the current time. Have financial left over, that's why it is advisable as a business person to always save money ahead of time for your business in case of emergencies like this covid19 we're experiencing now. That has caused havoc to the entire world.

 

[Pousinha]

I'm a teacher and writer and coronavirus strictly affected the first of the 2, as I completely lost my offline teaching job (that was quite a businees even when my micro-enterprise wasn't still open, as I worked independent mode). What I did was to redouble efforts with online tasks to earn more through them, especially articles publishing, and to transfer teaching to online mode. Better said, I combined the 2 jobs, teacher and writer, into one: by publishing chapter to chapter my spanish language e-book, providing spanish teaching tips to the chapters. In any way, my job doesn't need employees, as I'm enough to run it and no extra-expenses. When it comes for languages courses supplies, I always run the web to find free legit resources.

 

[Nma]

The pandemic affected a lot of companies negatively such as the event planning and decoration industry.... As we all know all forms of events were banned causing these companies to lose money... so many of them had to go into other businesses in order to make ends meet

 

[WhiteHouse]

Consider it to be a chance. You have taken in something from the experience.


In the event that markets are simply down, it is senseless to assume a misfortune. However, on the off chance that you have hypothesized in an incredible rich snappy plan, assuming a misfortune bodes well.

Simply center around long haul contributing. Putting the leftover cash in something more profitable will guarantee you beat the misfortune rapidly enough.

 

[Ltherman]

We have all seen the covid 19 impact on businesses across world . Some businesses have actually thrived and shatter their profit margins. Companies with industrial capacity across different sectors have made it big time, I know of companies during the covid that were allowed to run because they produce essential materials like food products and medical materials etc. While some other companies simply cannot recover from the financial implications of shutting down due to covid.
What are some the measures you can put in place to avoid or cushion against negative financial implications?

Some companies will definitely go under during this lockdown, not a lot of people can take such a hit on their finances. The protractive nature of the lockdown has converted the balance sheet of most companies into negative balance sheet. and that's where government are giving out stimulus packages to some companies.