News By/Courtesy: Lia Jils | 05 Oct 2020 9:20am IST

HIGHLIGHTS

  • The COVID-19 pandemic has gone far from a global health crisis to a socio-economic crises.
  • It is important to support small scale businesses which comprise 40 percent of India's non -farm workforce.
  • Power of social media is very high in supporting these small scale businesses.

The COVID-19 pandemic has gone far from global health crises to a socio-economic crisis. Businesses are facing challenges brought by new norms around social distancing and isolation. Small businesses in particular have been hit hard during this situation. Many businesses have shut down permanently and others have reduced their scope temporarily. This is true for India and many other global economies. MSMEs have reported a drop in their orders and their inventory levels are increased by 50 percent. This sector employs 11 crore people nearly 40 percent of India's non -farm workforce. This is the reason why the revival of MSMEs is important. The government called for the urgent need for consumers to support small, medium, and micro-businesses. Here are how consumers can contribute to the survival of businesses, particularly small businesses. 

  1. Search and shop from local businesses in your locality

Most of the people prefer to buy from cities or large marketplaces mainly because of convenience and visibility. But there may be many stores in our neighborhood that offer great quality products and services. These shops can be discovered by asking around or looking online through the help of google maps or google search and shopping from them. 

2. Take to social media for shoutouts for small businesses

People are spending more time on the internet now thus the power of social media can be put to use. Make a little effort and support small brands and businesses. Word of mouth conversations and recommendations includes trust factor around the people and they can be convinced to buy products from local markets.

3. Leave positive reviews on Google, websites, and share testimonials.

Our community may be limited to our family and friends which constitutes a limited number. In that case, leaving a positive review on the website will be very useful. Small bakeries or groceries won't have a website of their own, so all we have to do is find them on google maps and give a positive review. This will add to the credibility of the business. 

4. Buy credits or gift cards.

Go to a small brand shop that you loved purchasing and choose to buy a gift card or buy credit which can be redeemed later. This helps the businesses to maintain their cash flow. 

5. Use your expertise to help a struggling business. 

Some people have a good business network. These skills help clients. If you do not have the skills a webinar can be organized which helps small businesses.

 

 

This article does not intend to hurt the sentiments of any individual, community, sect, or religion, etcetera. This article is based purely on the author’s personal opinion and views in the exercise of the Fundamental Rights guaranteed under Article 19(1)(A) and other related laws being enforced in India for the time being.

 

Section Editor: Pushpit Singh | 05 Oct 2020 20:41pm IST


Tags : #small businesses #pandemic

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