{"id":17737,"date":"2021-04-23T03:45:08","date_gmt":"2021-04-22T22:15:08","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=17737"},"modified":"2021-10-19T18:14:47","modified_gmt":"2021-10-19T12:44:47","slug":"how-to-prepare-your-business-for-the-second-wave-of-covid-19","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/how-to-prepare-your-business-for-the-second-wave-of-covid-19\/","title":{"rendered":"How To Prepare Your Business For the Second Wave of COVID-19"},"content":{"rendered":"

Small businesses in India are gearing up for the second wave of COVID-19, a virus that severely impacted businesses in 2020. This time, however, businesses will be better prepared for the worst. In this blog, we will discuss how your business can fight the virus and keep business going as usual.<\/p>\n

In this blog, we will discuss:<\/p>\n

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  1. How the first wave of COVID impacted businesses in India – an overview<\/li>\n
  2. What small businesses need to expect with the new strain<\/li>\n
  3. How to stay prepared for the second wave of COVID – 7 tips<\/li>\n<\/ol>\n

    How COVID impacted businesses in India – an overview<\/h3>\n

    Currently, India has reported over 15 million confirmed cases of Coronavirus (COVID 19). Out of these, over 12.9 million patients had recovered, while 178 thousand cases were fatal.<\/p>\n

    The first wave impacted businesses’ cash flow, sales, and overall, morale. Over 73% of small businesses in India saw a shortage of cash flow during the first pandemic lockdown.<\/p>\n

    The most impacted sector was travel, real estate, and automobile due to travel restrictions, reduced spending, and lockdowns. The aviation sector alone incurred a loss of Rs. 85 billion in just one year.<\/p>\n

    But these numbers should not demotivate you. If your business is prepared for the worst, you have nothing to fear.<\/p>\n

    \"Statista<\/a><\/p>\n

    How will the second wave of COVID affect small businesses?<\/h3>\n

    The country is in chaos, and for business owners, this could mean trouble. States have announced a lockdown and many shipping services have been put on hold. Last year, these sudden changes came as a shock to Indian MSMEs. The Government scrambled to give financial provisions to ease business operations, but it was not enough. This time, the second wave could bring:<\/p>\n

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    1. A sudden lockdown<\/strong> – As per several news reports, there are public lockdowns and curfews imposed on states. Businesses with an offline store or office will need to pull shutters down and carry out work from home till the lockdown is lifted.<\/li>\n
    2. Travel restrictions<\/strong> – If you require to travel across state lines for work, a second wave could stop it from happening.<\/li>\n
    3. COVID test<\/strong> – Everyone looking to get back to work or travel across states might need a negative COVID test or a vaccination report<\/li>\n
    4. Shortage of working capital<\/strong> – Once again, unaware businesses might be caught in a cash crunch due to uncertainty and sudden Government imposed restrictions.<\/li>\n
    5. Manufacturing units shut down<\/strong> – Due to another slow decline in demand, supply will come down and this could result in manufacturing units closing down for a while<\/li>\n
    6. Pause on shipping services<\/strong> – Due to the lockdown, several express shi[ping services will put a pause on delivery.<\/li>\n<\/ol>\n
      \n

      In last 24 hours, India recorded 16,946 coronavirus cases, 17,652 recoveries, a fall of 904 in net active cases and 198 deaths, taking India\u2019s COVID-19 case load to 1.05 crore, while active cases stood at 2.14 lakh#coronavirus<\/a> #COVID<\/a> #COVID\u30fc19<\/a> pic.twitter.com\/pQFWjm68xl<\/a><\/p>\n

      \u2014 Business Today (@BT_India) January 14, 2021<\/a><\/p><\/blockquote>\n