As people lose their jobs and as established businesses struggle for opportunities, this may be the best time for the rest of us to start a business.
Some of you may be saying, “Ha? Ano kamo? Are you crazy?”
Before the pandemic, you would need a lot of money to start a business in order to compete with the major brands and international franchises. You needed to put your stores inside the malls because that is where people go shopping, thus increasing your financial requirement. It was hard for local convenience stores to survive when Save More and 7-11 open shop in their neighborhood. And small eateries or food shops die when Jollibee and McDonald’s come to build their stores in their localities.
Before the pandemic, established businesses have the ability to saturate the market to eliminate their competitors, especially the local ones. They can do this through their logistical might and financial strength. Because of these, the rich get richer while those who have the potential to become entrepreneurs end up working for the so-called “big boys” of the industry.
But these advantages have disappeared when people cannot go to the malls because they were advised to stay home. And because there are no tourists, many fast-food franchise stores have to close because the locals prefer to eat in the carinderia nearby.
After World War 2, most businesses were home-based, serving their neighbors. In the 1960s, they grew to become small enterprises with the ability to serve a community, kaya centralized public markets were established. In the 1980s, shopping centers were built so that businesses can serve a bigger market, the cities. But at the turn of the centuries, came the rise of mega malls and the establishments of large franchise stores. The “big boys” thought that it was a good idea to let people shop, eat, and be entertained in one location. While this was seen as a sign of progress, it also killed small businesses.
COVID 19 has forced us to go back to home-based businesses that would serve our neighbors. But the new model allows these new enterprises to serve a bigger community through the aid of the internet and delivery companies like Grab, Food Panda, etc. COVID 19 has just leveled the playing field. This is why I said it is the best time to start a business of your own.
You do not need a lot of money to start because you can work from home. You do not have to hire employees because you can contract out the work to your neighbors. You do not have to manage accounts receivables because people pay cash.
I believe the economic strength of a country is determined by the number of small and medium enterprises it can develop. Because when only large corporations dominate the market, only a few will become rich. And many of the potential entrepreneurs just become their employees.
Have you been thinking of starting a business of your own but you do not have the money to start big? You should not wait any longer, because you can start small and start now! Sana you will use this pandemic to start your personal journey to becoming fruitful!
Fruits are not meant to be kept, the plant uses them to bless those around it. Let's be like plants, share this message with those who may be blessed by it, especially your family and friends.
Always feel free to let me know what you think.
Keep safe. Stay healthy. And, be fruitful,