Business as Usual: Effect of COVID-19 to Small Businesses
Will businesses resume to normal after the Covid-19 Pandemic? How will businesses bounce back after experiencing an unforeseen event? After losing a job, is it feasible to start a business? These are some of the questions that most people…
Published: JUNE 22, 2020
Will businesses resume to normal after the Covid-19 Pandemic? How will businesses bounce back after experiencing an unforeseen event? After losing a job, is it feasible to start a business? These are some of the questions that most people are asking. Whether they are a small business owner, an employee, or an ordinary person, everyone is affected by this pandemic.
With the government allowing a certain percentage of businesses to operate in the Philippines, some businesses are starting to cope with the loss they had experience for the past four months. But what about those businesses that has no other choice but to close due to loss? Based on research, small businesses with less than 20 employees have a cash flow good for 2-3 weeks only they are the first ones to close even before the heights of the pandemic.
In order to survive, businesses will have to adapt to the new normal in business by catering to their customers online. While other businesses close down, some businesses start to thrive like those in food and beverage, delivery services, grocery items and services, and new business natures like “Pabili” or “Pasabuy” where people will look for motorcycle riders to buy goods or fresh food for them via online.
Having a business software is important in order to track your whole business operations and to avoid unfortunate scenarios like stopping your operations. QNE Optimum Accounting System and Inventory Management System is one of the leading Accounting Software in the Philippine market together with SAP, QuickBooks, Xero and more. These Accounting System is a great business tool which will help you in managing your business efficiently and effectively.
Businesses will definitely not be as usual but we can cope and survive this pandemic by having the right business software to help us manage our business. For more information about QNE BIR Accounting Software, contact us at 09177104722 or email us at [email protected].