Top tips for business survival during the hard times – Part 1

Monday, January 3, 2022
Fragile context Myanmar
Monday, January 3, 2022

The economic downturn and unstable political environment will affect any business no matter the size. Entrepreneurs who want to survive can follow the tips below:

  1. Evaluate the current business environment
  2. Understand the financial status of your business and find solutions
  3. Reduce general expenses
  4. Save for the future
  5. Acquire digital financial literacy

Please continue to read Part-2 for more tips.

 

References

  • Dr. Jenny Lao’s training content of “Entrepreneurial Surviving Amidst and Conquering Aftermath”
  • "Small Business Success" magazine, Volume 4, produced by Pacific Bell Directory in partnership with the U.S. Small Business Administration and the Partners for Small Business Excellence.