Author: Anagh Pal PUBLISHED 17 April 2020 on OutlookIndia.com
The extended national lockdown has meant that businesses across all sectors have taken a hit. The impact is more severe for small businesses that have seen their business dry up and their cash flows disrupted. While the going will no doubt be tough, there are ways a small business can survive the crisis and be in a position to bounce back when things get better.
Take Immediate Action
In such a scenario it is better to be proactive rather than be reactive. Decisions need to be taken and taken very fast. Look at ways to cut down on costs as much as possible. You might have to put on hold any expansion plans and try to wait it out till things get better. Even as you should help others as much as you can, you can also turn to others for help and support.
Focus On Cash flows
Now is the time to focus on cashflows and not on profits.
