With the current state of business, what are your advise towards the economy effect on business?

[GIFTMICHAEL]

When the country is facing recession it might be very difficult and sometimes it can slow down the process of you making good amount of money in your business, recession should be stop by the government at all means.

Recession is a bad one, it hinders business progress cos everyone will be suffering the redundancy in economic benefits. Only the heads can do something and get the huddle getting off in the country.

 

[Richard92]

My take is that, you should not start a business in an economy or region that does not support the growth of your venture. If you do, then you would be exposing your business to high risk as well as failure. It is better to study how a business can thrive in any region before launching your brand.

Currently in my business is ok but if I want to work with the economy I need to really do well in order to help it grow well because the economy is changing and we do is you have to put more innovative skill to it.

 

[Shigobad20201]

My advice for business owners is to build an online presence for their business. The state of the economy doesn't have as much effect online as it does offline. Businesses with online backing appear to be the safest in these time of economic downturn.

With the currenct state of business at the present moment , we all know most of the offline business are just reviving bevause of the pandemic, so its very important to build an online presence to support your business.

 

[Setho]

The covid 19 pandemics cost a lot of inactivity in a lot of places resulting to loss of money amounting to billions of naira and that is why the economy is drifting back that will take time to recover.

 

[Jlife]

Recession is a bad one, it hinders business progress cos everyone will be suffering the redundancy in economic benefits. Only the heads can do something and get the huddle getting off in the country.

But sometimes it is only a business that has already been established and is doing well may not feel the effect of recession in a country. I always believe it will only affect business that are starting up newly.

 

[Senator]

That is one reason you should always take care to note the prices of commodities you are selling because you will have to return to buu these products again and should not be taken by surprise in price

 

[jeff87]

There has been a lot of down slow in the economy lately in which I believe if care is not taken they might be some backlash in the country GDP Gross Domestic Product.

Let share our thoughts.

I greatly agree that with the present condition that we are in due to coronavirus, businesses are affected.

Lots of prominent people have died already through coronavirus infection. They might have businesses.

 

[Yusuf1]

My advice for business owner is just that they should keep diversifying their business and ensure they make money from any possible means to sustain their business so far the possible means is legal

 

[Ralphjoe]

There has been a lot of down slow in the economy lately in which I believe if care is not taken they might be some backlash in the country GDP Gross Domestic Product.

Let share our thoughts.

Well for a business that is going through a rough patch in this pandemic error should make sure that it is disciplined when it comes to in curing and Spencers and also it should do all within its power to maximize profit in all each production processes.

 

[Setho]

My advice for anyone who wants to get the best out of business is to take their business presence online. This is because you can use the advantage of the so much reach.

 

[GIFTMICHAEL]

But sometimes it is only a business that has already been established and is doing well may not feel the effect of recession in a country. I always believe it will only affect business that are starting up newly.

Yes, it will affect the business that is starting up newly more often than the ones that has established themselves long time.

 

[Justin]

Adaptation is the key to succeed. A lot of restaurants in my home country started selling foods online when lockdown was imposed. They managed to stay afloat.

 

[Richard92]

My take is that, you should not start a business in an economy or region that does not support the growth of your venture. If you do, then you would be exposing your business to high risk as well as failure. It is better to study how a business can thrive in any region before launching your brand.

My advice for the current situation of economic change and meltdown in the world entrepreneurs and business owner is to re-strategize in all areas of their business.

 

[kayode10]

No matter how appealing a product my be, if people have no money to buy it, they will simply ignore and hope for the best. This is the situation on things in my country.

 

[Jlife]

Yes, it will affect the business that is starting up newly more often than the ones that has established themselves long time.

The reason is because the already established business will just increase the price of products or services when there is recession or they can adjust their business to whatever way that will not make them to be at loss.

 

[Setho]

It is actually very unfortunate that the coheed pandemic has actually become so was that it affected a lot of business areas. My advice is that anybody who has a business should try to have an online presence no matter what.

 

[Shigobad20201]

The advise I can give to a business owner in the current economy status right now is to always plan carefully and looks ahead before making a decision , in order not to affect the business.

My advice for business owners is to build an online presence for their business. The state of the economy doesn't have as much effect online as it does offline. Businesses with online backing appear to be the safest in these time of economic downturn.

 

[Ralphjoe]

Huh! I think the best that can be done now. Is that everybody should have there business online, although before online business start growing you must have undergo some spending to boost it beyond your locality and increase your customer.

It is a very good idea that you said about everyone having their businesses online because right now the offline business is a very bad corner right now as a result of the coronavirus pandemic that is ravaging the world.

 

[Good-Person]

I believe that the economy of a country really matterst when it comes to business. There are many Tier 3 countries with poor economical conditions and people are haveing hard time running business there.

 

[GIFTMICHAEL]

The reason is because the already established business will just increase the price of products or services when there is recession or they can adjust their business to whatever way that will not make them to be at loss.

Every business owner knows what's good to.their business. I can't advise any entrepreneur to go down selling beyond the original price of the commodities, even if their is recession.