Updated: Apr 4, 2020
COVID-19 has badly affected the outside movements like meetings, interactions, etc.
I am a Business advisor and based in Delhi. I assist startup/SME businesses and other stakeholders of startup ecosystem by providing business & financial advisory services. i used to be on travel always (both local and outside Delhi)
Scenario has been totally changed from last 10 days where i am operating from home and aligning with my team which is present in different part of territories in India. We are now interacting and re-defining our strategies while working from home. No-one can move and meet the people on ground. However, we are making best use of technology while working from home and interacting with our clients and working for them
Like someone has rightly said "the show must go on". We are following the same and assisting other in this disastrous scenario
We are trying to make things easy for the people or small small business owners in how they can still work and can focus on survival plans, short term business strategies and effective cash management. All we are doing through online. I think this is the right time where all the available technological means can be best utilised, for example, whatsapp, facebook & instagram - in communicating the awareness about the issues, zoom meetings, airmeet, skype etc. for conducting online meetings with clients & customers
However, the major concerns come for the people who are not technologically connected like Small manufacturers, retailers of non-essential items, and similarly others and people connected with them, contract labours, employees, wage earners etc.
We are moving towards recession as discretionary income of the people has been badly affected. Discretionary income is an income which a person spends on other than essential items. People's priority and behaviour towards demand will be significantly changed in this coming 6-12 months and will be challenging for the economy to review from it
However, we do pray for the people who are at BOP (bottom of the pyramid) in our country that they will survive this crucial time and the central and different state governments will take care of them, especially in their daily food and other survival needs
Stay safe & Take Care