For Startups & SMEs: 6 Critical Rules for Surviving the Slowdown Post Covid-19

The slowdown in the aftermath of the Corona virus pandemic is going to be very different from any other we have seen in the past. This is nothing like the dot-com bust, or the housing market crash that the world emerged out of in the last couple of decades. Experts say that what’s coming our way is comparable only to the Great Depression of the last century. The outcomes of the depression then were drastic declines in industrial output, severe unemployment and acute deflation in almost all parts of the world. The gloomy sentiment around the Covid-19 virus pandemic is recruiting more and more economists and public policy experts with each passing day. While we should certainly avoid panic, as things always fall in place eventually, we certainly should not waste time preparing ourselves for what’s sure to follow the health crisis – a severe economic crisis.

There could not be two opinions about the time to act in such circumstances. No, it is NOT “Soon”, it is NOT “Sometime this week”, it is NOT “at the earliest convenience”. The time to ACT is NOW, no later. The mantra is simple – Adapt or Perish!

We list down a few extremely important points on how an SME can adapt and survive the storm during the downturn, here: