ALL CONTENT AND PHOTOS WRITTEN AND SUBMITTED BY NIALA RAMKALLAWAN
Predictions from various astrologers, psychics and authors have foretold of the great spread of a virus affecting mankind for years prior to its arrival in the 21st Century. Appearing in late 2019 and progressing into 2020, several authorities and agencies have engaged in talks and meetings spanning continents in preparation for the epidemic.
With the escalating spread of the virus, the COVID-19 outbreak has now evolved into a pandemic as declared by the World Health Organisation (2020). This virus has become an unconventional health scare, accelerating into a global crisis affecting travel, trade, wealth, and the structure of entire economies. Worldwide public panic has created alarming behavior among citizens with an increased product demand, panic buying, quantity restrictions on purchases, price gouging and hoarding are the reality that set in.
As a result, it has become essential for Entrepreneurs in Small and Medium Enterprises to undergo Emergency and Crisis Management. Perhaps, you’re wondering: What should I brace for in the upcoming months?
- Economic impacts:
- Wealth - Fluctuations within Markets and Stock Exchange; Imposed limits on Foreign Exchange; Extensions on credit facilities
- Trade - A slowdown in imports and exports; Government’s decision to prioritise items on the Purchase List (Imports); Longer periods to clear shipments
- Diversion of monetary allocations to Sectors deemed as priority by the Governing Body
- The possibility of a recession exists if stringent measures are not in place
- Social impacts:
- Health care - Precedence given for medicines, equipment, proper facilities and safety measures
- Education - Suspended classroom learning at all levels; Encouraged online learning or home schooling; Cancellations or deferrals of exams
- Employment - Threat of job loss; Introduction to new types of leave; Change in operating hours; Flexibility to work remotely or from home office
- Life - No congregating; Practice of social distancing; Personal responsibility and use of good sense
- Political & Legal impacts:
- Government heads working together, as well as, interference and discord from opposing parties
- Drafting of new policies and legislation
- Firm and compulsory decisions regarding public safety
- ICT impacts:
- Lots and lots of information online and in the media (local, regional and international)
- Technology - To communicate warnings and precautions to the general public to take proactive measures
- Security & Safety impacts:
- Strict and limited travel restrictions via air and sea for the next 6 months
- Enforcement of sanitation and hygiene at business places, state agencies and public facilities
- Call the advertised HOTLINE if symptoms are exhibited; Self-Quarantine; The responsibility to seek immediate medical attention
- Restrictions and bans in place for public gathering
It is no surprise that things will be impacted on a macro-economic level, but we also need to focus on a micro-economic one as well. This outbreak has caused public panic, infections and deaths triggering the need for quick action, and the practice of personal hygiene and sanitation thoroughly and more frequently. As entrepreneurs, we have a multi-faceted role to play as many people will depend on us.
Important Tips to survive this global outbreak:
- Keep abreast of changes:
- Listen to news updates and breaking news from trustworthy information carriers. I urge you to please exercise great caution with regards to social media, namely Facebook, Twitter and WhatsApp during this crisis, and on your own volition engage in factual research.
- Have Contingency plans in place
- Try your best to plan for 6 months ahead
- Examine your current financial standing and situation, looking closely at your finances inclusive of Expenditures, Cash Flow, Investments, Savings, Loans and Personal Spending.
- Revisit all your financial commitments, and find ways to reduce and cut excessive spending. Also, look into any type of discounts, credit facilities or reduced borrowing and interest rates.
- Figure out if you can be financially responsible for all your employees or you should consider options such as reducing operating hours, increasing flexibility, offering avenues to work from home or letting staff go. These are the toughest decisions Entrepreneurs face as Employees are a part of the Team and Family, but a downturn on a global scale can have a rippling effect, before it bounces back.
- Safeguard your:
- Family
Be vigilant regarding precautionary hygiene measures.
Eat nutritional meals with portions of vegetables and fruits; take the necessary vitamin supplements daily and keep hydrated.
Ensure you have at least a 3-month medical supply in your home, and groceries for at least 1-month into the foreseeable future.
Sanitize and disinfect high traffic areas, rooms for family gatherings and objects frequently in use such as door knobs, phones and such inside your home.
Maintain your vehicle in a similar manner, with regards to upholstery, air vets, door handles, etc.
- Business
Reduce face-to-face interactions by conducting training and meetings online. There’s the option of chats, calls and video conferencing via WhatsApp, Skype and Zoom, to name a few.
Sign up for online banking to monitor transactions instead of receiving physical statements via the postal mail. You can also do online transfers, pay suppliers and e-payments for utilities.
Encourage advertisements, marketing and sales via online and digital platforms.
- Yourself
If you exhibit flu-like symptoms that worsen or persists longer than 5 days, get up and go seek professional attention
Ensure information is from a credible source. Limit the use of social media that subconsciously contribute to anxiety, panic attacks or nervous breakdowns, as your mental health is of paramount importance.
COVID-19 can be contained if we all actively play our part. Our role as Entrepreneurs may be demanding, but we still need to be alert and attentive to those around us, the present situation and circumstances we face.
We may seem average, but our ROLE as a Parent, Child, Role Model, Mentor, Neighbour and several others is crucial at this time. Let’s not disappoint all those who secretly hold us in high regard and look up to us. Let’s all be informed, responsible, set an example and also lead by it.
I request that special acknowledgment and a moment of prayer be given to all our healthcare providers, along with safety and security personnel diligently working to mitigate the spread of this virus, and also our Governing Body with regards to decision making and the required prompt response during this pandemic.
To all my readers, please be safe during this time and engage in proper sanitation and personal hygiene, especially when no one’s looking.
Sources:
https://www.verywellhealth.com/difference-between-epidemic-and-pandemic-2615168
https://www.victorvilleca.gov/services/emergency-services/covid-19
https://www.pinterest.ca/pin/409475791115994396/
About Niala
I am a Freelance MSE & Social Media Advisor, the Owner/Founder of Gia’s Creative Studio and YBTT Mentor/Advisor providing ‘Insights from a Creative Entrepreneur’ on transformational leadership, strategy, forging a legacy, motivation and success.
Niala Ramkallawan, MBA, BSc.
You can find me on:
LinkedIn - https://www.linkedin.com/in/niala-r-71b12742/
YBTT - https://ybcaribbean.skysthelimit.org/volunteer-profile/15317
Facebook - https://www.facebook.com/giascreativestudio/
Instagram - https://www.instagram.com/giascreativestudio.868/
