question archive how should small, medium, and large scale businesses manage to survive in this period affected by covid 19?
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how should small, medium, and large scale businesses manage to survive in this period affected by covid 19?
The small, medium, and large scale businesses should manage to survive in this period affected by Covid-19 by:-
*small businesses can receive stimulus funding from the government
*medium scale businesses can rely on the payment protection programs during this pandemic
*some large scale business are reducing their workforce to survive through the pandemic
The covid-19 pandemic have greatly hit all forms of businesses(small, medium and large scale entities). The businesses are affected because the sales level have declined as the pandemic continues. The small, medium, and large scale businesses should manage to survive in this period affected by Covid-19 by:
*small businesses can receive stimulus funding from the government: Various governments have provided stimulus funding to protect the small businesses from the pandemic. The stimulus payments are based on loans (low interest) and grants that are given to small businesses.
*medium scale businesses can rely on the payment protection program during this pandemic:Medium scale businesses have a significant number of employees. The payment protection program can be used to prevent these business from collapsing . The program prevents the companies from furloughing their workers.
*some large scale business are reducing their workforce to survive through the pandemic: The financial needs of large scale business may not be fully met by the stimulus payments. In addition to the stimulus payments, many large scale businesses are reducing their employees through early retirement or layoffs. The measures will help them survive the pandemic as the costs are reduced.