These were some of the key factorsI presented
at an online conference about the
economy that awaits us (emphasis on UK,
US and Russia).
-Entrepreneurs will restart, but slowly
For entrepreneurs, surviving the
pandemic has been a major challenge,
with many
losing revenue due to their clients’
inactivity.
Travel and legal services
have joined shops and restaurants in
the fight for survival.
State support
has been difficult to obtain for many.
Some have secured loans, but these will
have to be repaid following interest
payments that will further depress
profits.
Many entrepreneurs gave up employment
to run their own business.
Their may be
no way back, when jobs are scarce.
Many have adapted, especially online, but
rebuilding markets, such as travel, may
take years, rather than months.
Many will see today’s problems as
opportunities, but they will have to
develop plans to exploit them
profitably.
The major problem will be cash flow,
which has been weakened by the
floundering economy that has been so
damaged by the pandemic.
To be continued…..
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