Find out what other businesses are doing to stay ahead during Lockdown
The Covid’s complimentary economic lockdown witnessed many go out of business, lose jobs and worse still accrue debts without any glimpse of when the nightmare will be over.
We can all agree it was really bad for most businesses. As bad as it was, other businesses thrived and even made exponential gains. Some made gains, because they were ready and better positioned as the only businesses available to serve the needs of existing and new customers.
Covid-19 Business Impact Report
The Impact of the covid-19 outbreak on the Nigerian economy, for example, shows that the Nigerian economy having been projected to experience a 2.5% GDP growth, was instead truncated by the pandemic.
Fate foundation & BudgIT’s (2020) studies on the impact of Covid-19 on 1943 MSMEs across the 36 states revealed that 94.3% of respondent businesses recorded negative results during the pandemic principally in areas of cash flow, sales, and revenue by over 74%.
In truth, wealthier Nations can afford to give business stimulus packages, loans, and grants to help impacted businesses get back on their feet. Unfortunately, that is rarely the case in developing nations like Nigeria where a large number of the population are already living below the poverty line.
It’s no news that the pandemic plunged many into suffering, poverty, unemployment, and even business closure which many are yet to fully recover from.
Businesses have the sole option of taking full responsibility in averting the direct impact of a strangled economy both now and in the nearest future.
Besides the Lockdown due to covid-19, there have been a series of State-wide to Regional Lockdowns, especially due to conflicts and other security reasons. Various staged protests and sit at home, all to the detriment of businesses.
Business managers and CEOs still doing business as usual are often directly impacted by these lockdowns both immediately and in the long run.
It’s said that, “You can’t be doing the same thing, the same way and expect different results.”
Despite the prolonged lockdown and how we abhor them, the truth is, we are yet to see the last of them.
From resistant strains of the Covid virus to civil unrest, all we can do is be better prepared.
According to a Premium Times report, The Nigeria Center for Disease Control (NCDC) announced in a statement, confirming that it has recorded its first case of the Omicron variant (B.1.1.529 lineage) of the Covid-19.
Businesses, therefore need to be prepared, before anything else, preparation is key to success, for anyone who fails to prepare, prepares to fail.
The Economic Impact of the lockdown has exposed businesses to find better alternatives to staying ahead and surviving while ensuring such history never repeats itself at scale concerning their business.
Businesses are now more than ever, smarter and better prepared to navigate a post covid economic era.
What Does This Mean?
Businesses large and small are looking for more sustainable ways to cut costs and optimize profits and operations while being on the lookout for developments such as covid.
Banks, Multinationals including International Oil Companies (IOCs) have drastically streamlined spending, operations in both sourcing & service channels. More than ever, organizations are becoming more global while adopting various online systems for service process optimization and automation.
More Businesses have Moved Online
From small and fragile to large and agile, everyone is now making sure they can be found online and have an online footprint both for operations and customer service.
More customers are online now…and so are businesses.
A Mastercard report suggests that 81% of Nigeria Consumers shop more online since the start of the pandemic.
This is not limited to Gen-Z, as even many procurement departments in large organizations have further strengthened their sourcing framework to give room for more online purchases.
While online shopping is gradually becoming the next normal, the pandemic has drastically changed how we gather information.
A higher number of organizations perform more market surveys online compared to pre-covid and as stated earlier are more likely to make an online purchase in a post covid world.
This is not only limited to goods but also services and suppliers.
What Other Businesses Are Doing To Stay Ahead of Lockdowns
One question every well-meaning business owner or organization should ask is…are you better positioned for the new normal?
In an event of a lockdown, do you have any process that will ensure business continuity? What about trusted suppliers to ensure you keep delivering value, can they be available for you during a lockdown?
If you don’t have any clear answers yet, you may need to re-evaluate how future-proof or resilient your business may be in a lockdown event.
Business success is about creating value while building and maintaining meaningful business relationships.
Being better informed should translate to being ready… which means giving your business an online presence. Not just a social media kind of presence…but an online marketplace presence for real, serious, and verified businesses.
Spronet.ng is more than a marketplace…but an online business community for verified businesses to find each other, transact and connect regardless of any lockdown.
Spronet.ng Empowering Businesses To Thrive
Have you tried sourcing for equipment, tools, materials, goods, supplies, services e.t.c to no avail?
Spronet is open for all types of verified businesses to connect and transact for free. There is no middle man as businesses, dealers, and manufacturers, or local producers across the country, connect directly with each other.
Spronet gives you a free online store and a unique website/business profile.
Besides having your business website, there are many benefits of being part of an online marketplace.
Be found Online And Trusted
Do you know, many businesses and individuals resort to import after Local/Online sourcing efforts have failed? That’s your money leaving the country before you (Ha-ha).
With Spronet.ng online marketplace, we ensure your business, goods, and services are found easily by placing them to the right audience or customers both inside and outside spronet.
Contracts Should Be Won by Merits Not Bribe
Spronet.ng enables businesses to create and bid for contracts through our unique bidding system. Businesses are directly in control of the outcome of the bidding and section process. This way, even rare items/goods can be found easily.
It gets better because there is more value in store for every business.
See Also: What we do at spronet.ng
How To Get Started
Adding your business on spronet.ng is completely free and businesses have an unlimited number of products/services slots to showcase their goods and services.
To get started: Go to https://spronet.ng/signup
It’s free now…it’s always free. Be proactive and stay profitable.
Email Us: firstname.lastname@example.org
See Also: What we do at spronet.ng