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

[Jlife]

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.

Yes I was saying that they can actually adjust so as to be on profit, generally it is not nice for them to reduce beyond original price and be at loss because the main purpose of a business is to be on profit

 

[GIFTMICHAEL]

Yes I was saying that they can actually adjust so as to be on profit, generally it is not nice for them to reduce beyond original price and be at loss because the main purpose of a business is to be on profit

Yes, the main purpose of every business is the profit side, no profit means no business. We must make profit in.order to stay on for long.

 

[Jlife]

Yes, the main purpose of every business is the profit side, no profit means no business. We must make profit in.order to stay on for long.

Sometimes without proper management in a business, The business may not actually know when they are on profit or loss and before they know the business is already collapsing.

 

[GIFTMICHAEL]

Sometimes without proper management in a business, The business may not actually know when they are on profit or loss and before they know the business is already collapsing.

But with proper management skill we ought to know when our business is crumbling and when it is heading to the top if their is profit made or not.

 

[Jlife]

But with proper management skill we ought to know when our business is crumbling and when it is heading to the top if their is profit made or not.

It is an accounting department of a business that will know when a business is on profit or loss ,because they are to keep accurate record of the profit they make on daily basis.

 

[Hena101]

My advice to any business is try and create space for the business online and also do research on any business you intended to start and make sure it's inline with your passion so that you can continue no matter what happened.

 

[GIFTMICHAEL]

It is an accounting department of a business that will know when a business is on profit or loss ,because they are to keep accurate record of the profit they make on daily basis.

When it comes to business of any kind, any one can become an account, an entrepreneur. Cos business spreadsheet isn't hard to do, of you don't know basic ways of calculations then you can manage your finance well.

 

[Jlife]

When it comes to business of any kind, any one can become an account, an entrepreneur. Cos business spreadsheet isn't hard to do, of you don't know basic ways of calculations then you can manage your finance well.

A business owner may not be able to manage the financial part of the business very well,most times they are to hire a professional manager to help them manage the financial department.

 

[jeff87]

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.

I definitely agree with your advice to all business owners to make their presence felt in the online world. If the offline work is affected by the lockdowns due to coronavirus, then I also advise that they migrate to online selling.

 

[Senator]

More and more businesses will be facing a lot challenges this period of the pandemic and so you should be prepared to counter such challenge by minding your spending habit

 

[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.

The things that James no good or bad time for you to start up my business is just that at which time of the business cycle there is supposed to be some strategies that you can deploy to make the business successful at that particular point in time and then even and the time of plenty then there are also strategies that can deploy to make the business to become more successful.

 

[Alexandoy]

More and more businesses will be facing a lot challenges this period of the pandemic and so you should be prepared to counter such challenge by minding your spending habit

Innovation is the name of the game. Even schools have innovated to conduct distant classes via video chat. In other businessesyou also have to improvise for the delivery of products and services as well.

 

[GIFTMICHAEL]

A business owner may not be able to manage the financial part of the business very well,most times they are to hire a professional manager to help them manage the financial department.

That's it. And it comes in when the business have settled down. If the business didn't settle down it wouldn't be possible for hiring a financial manager.

 

[Jlife]

That's it. And it comes in when the business have settled down. If the business didn't settle down it wouldn't be possible for hiring a financial manager.

It is even possible to hire a professional financial manager in the beginning of the business at the early growing stage, I think it's really necessary at the beginning or don't you think so ?

 

[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.

I think for any business to become successful in this guy economic times but not make provisions for unforeseen circumstances like these that is by subscribing for insurance and also reducing its expenditures because the economy seems to be very unhealthy right now.

 

[GIFTMICHAEL]

It is even possible to hire a professional financial manager in the beginning of the business at the early growing stage, I think it's really necessary at the beginning or don't you think so ?

Lol, you're always making me to laugh through your write up. I'll simply say, it depends on the calibre of the business you operate. I can't own a barbershop and employ a manager for it.

 

[Jlife]

Lol, you're always making me to laugh through your write up. I'll simply say, it depends on the calibre of the business you operate. I can't own a barbershop and employ a manager for it.

Barbing shop at the type of business that do not even need an employee at all, any business that need employee more than 5 will need a financial department in the business organisation.

 

[GIFTMICHAEL]

Barbing shop at the type of business that do not even need an employee at all, any business that need employee more than 5 will need a financial department in the business organisation.

You're right. Those who have big supermarket, surely will need a financial manager to take record of every chance earned and cash spent.

 

[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.

With the current state of business are advised to owners of businesses or to the general economy is to improvise and diversify two areas which are very lucrative in order to boost the economy.

 

[Shigobad20201]

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.

Lately there has been many up and down and the economy of the world has been stagnant and somehow moving slowly due to the pandemic lockdown but the economy now is coming back around.