Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
MSMEs 2020-04-24

Top 6 things to do immediately for SME and MSME Businesses after the lockdown

It is important to understand and prioritise key points, as listed here, which can be helpful in a smooth and successful business transition, post the lockdown.

By Features Writer
Top 6 things to do immediately for SME and MSME Businesses after the lockdown

As the nation gears up to return to normalcy amidst fear of economic and health crisis, businesses, especially SMEs and MSMEs are hopefully looking forward to government support, tax holiday and several reforms that can help them make the transition better. While the solutions and possible government support in the near future sound promising, there remains a lot that needs to be handled on the ground level.

The COVID-19 crisis has impacted several areas of modern life and changed the very format of living and working. However, like every situation, this crisis has also come with a silver lining, with accelerated acceptance of new-age technology in mainstream operations, a sense of solidarity in business and personal lives, and a spirit to overcome the challenges thrown to us, as a unified, global population.

For businesses, especially SMEs and MSMEs, these challenges can seem detrimental, and even fatal. However, if approached strategically, these can be overcome. It is important to understand and prioritise key points, as listed here, which can be helpful in a smooth and successful business transition, post the lockdown:

Customer engagement

The customer is one of the most essential stakeholders for any business and hence, engaging with your customers, immediately after the lockdown, is vital. From informing them about your company resuming operations and assuring them of your continuous partnership and service at best qualities to being open to provide customised services that will suit the current need of the customer in the post lockdown era, could be vitally important aspects of this engagement.

Human Resource Planning

After the end customer, employees are the second most vital asset for an organisation and thus effective HR planning is important. From re-assigning roles and restructuring teams to offering WFH options etc. that can lead to both employee satisfaction and enhance their performance, can go a long way in building up a supportive business ecosystem.

Stakeholder engagement

Re-evaluating marketing and communication campaigns such that it is relevant to the post lockdown era, is vital in the overall success of the business. From employees and consumers to investors, vendors, and partners, it is important to inform and assure them of the reopening of office/services and, work closely with them to create solutions that offer a mutually beneficial work environment.

Financial planning

Economic crisis, at the global and national level, is one of the most feared and anticipated impacts of the COVID-19 pandemic. Just as the marketing and HR re-structuring, it is important to analyse the financial health of the company and re-evaluate the future plans for the business. These may involve selling off stakes or reducing employee salaries, cutting down on credit and repayment of debts, etc. can help boost financial immunity for the company.

Operational readiness

Resuming work after more than a month of lockdown could be a task from the operations point of view, especially considering the new, post COVID-19 scenario, where most ancillary business may or may not be operational to full potential. Ensuring agile and productive operational systems is another vital take way from the COVID-19 pandemic and the learnings/ challenges of this lockdown should be effectively used to ensure future preparedness and smooth functioning post lockdown.

Creating a relevant and robust operational plan is important to ensure the re-structured HR and stakeholder engagement initiatives are aptly backed through efficient operations and delivery of goods/ service, so as to maintain the good faith and credibility among clients.

Technology up-gradation

A valuable take away from the pandemic is the significance of technology in modern business. Irrespective of the size of the business, it is important to create an agile, relevant, and robust technology-based ecosystem to operate efficiently, after the lockdown. Introducing newer systems and processes that leverage the best in modern technology can go a long way in fortifying your business from the impact of a potential crisis in the future, while helping you move ahead of the competition, after the lockdown.

 

This article is written by Agnelorajesh Athaide, Serial & Social Entrepreneur, Real Estate Developer, Global Citizen, Educationist, Angel Investor, Motivational Speaker, Chief Mentor& Business Strategist -Business Opportunities Club (BOC).

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • About Us: FOOD MOHALLA was established in 2017 from Navsari (GUJARAT)..
    Locations looking for expansion Gujarat
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 380
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Navsari Gujarat
  • Grocery Stores
    About Us: Value4u is one of the best grocery suppliers in..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater pune Maharashtra
  • Pollution Control & Monitoring Equipments
    About Us: Hitech Enviro Engineers & Consultants Pvt. Ltd. provides complete..
    Locations looking for expansion Uttar pradesh
    Establishment year 2014
    Franchising Launch Date 2019
    Investment size
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Dadri Uttar pradesh
  • Quick Service Restaurants
    About Us: Biryani queen is a unique & Conceptualized QSR brand,..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
ads ads ads ads