By Uche Anyika
Amid this lockdown, many businesses, especially the small enterprise, are on the brink of going bankrupt. Why? The number one aspect of a company that is keeping it afloat, it’s customers, are all locked inside their homes.
No revenue is coming in. However, the business has to settle fixed costs, such as land use or lease payments. Bills keep coming. On the other hand, there isn’t enough money coming to fit those bills.
However, business still can benefit from this isolation. Although this benefit may not be evident at the moment, in the long run, however, it will start to turn up. Let’s see some advantages of isolation on businesses.
- Less open to contaminations
This advantage is virtually the most important. In the face of a dangerous virus, companies attending to customers despite certain measure put in place, contamination is still possible. The fact this virus is microscopic, makes measures against it sometimes out of our hands.
The more people/customers we allow into the office space, the more prone the business is open to contamination. Company will benefit from this isolation as they, in turn, prevent themselves from adding to the tally of infected persons.
- Increased individual employee productivity
Although most countries are currently in lockdown, some businesses are still open. Regardless, this situation is due to it’s necessity. Fast Moving Consumer Goods (FMCG) are mostly the basic needs of the masses. Enterprises such as Dufil (Indomie) need to be up.
However, they are to take certain precautions of their own by rotating shifts. Thus, they reduce their workforce available at specific periods. While this might decrease their overall outcome, more will be expected from each employee.
What I am saying is the individual work rate, and productivity will increase if employees are pushed to shoulder the responsibilities of, two three persons.
After the lockdown is over, some employees might maintain this attitude. This mindset will inarguably multiply the overall productivity of the enterprise. All this started with an employee doing more amid isolation.
- Less competition more customers
Since many small businesses are barely hanging on after the lockdown, there will no doubt be less of them. Even if these businesses fail to shut down, they will be on tails end to get back to the way it was before lockdown. Meanwhile, enterprises that manage to hang on will now have less competition.
Although this might change in the long run, in the short run, the competition wouldn’t be that significant. This gives businesses who manage to hang on an opportunity to recoup. For then, there will be more customers to market their commodities to.
- Set plans to tackle future isolation due to a pandemic
Just like other disease outbreaks that have come and gone crippling businesses, more will come. This prediction isn’t a wish but something that when you look at history is unavoidable.
We had malaria, HIV, Ebola and now the Coronavirus. Companies with the right mindset will devise plans that will keep them afloat in case of a future outbreak. With this current lockdown, some firms are already designing these plans. One of them is that most businesses are now gearing towards meeting their customers online.
The isolation is a big blow to the industry, especially new and small startups. However, we can see that with some specific measures put in place, some companies could still gain from the lockdown.
Know some benefits we didn’t put down here? We did love to hear all about. Do leave your ideas and opinions in the comments section below. Don’t forget to share this article also.