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Entrepreneurship Amidst COVID-19: Challenges and Opportunities

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COVID-19 continues to wreak havoc on industries and companies worldwide. The last six months have seen volatility in several markets, with the tourism industry badly hit. However, even though many companies have been adapting, the reality is things may not go back to the way they used to be for a while—or ever.

Among those who are unsure of the future are small businesses. After all, if mega-corporations like airlines and hotels didn’t survive, what’s to say that an SME will?

Before you lose hope, know that there’s still a silver lining amid the situation. Fortunately, we are now living in a technologically-advanced era with a ton of possibilities. Part of what made other businesses adapt so quickly is the fact that there is an option to move operations remotely.

Some have bolstered their online presence, beefing up their website, and strengthening their social media presence in the process. This has allowed for continued sales and ramped up marketing strategies that otherwise might not have been tested out.

Another popular trend that companies are looking at is SMS services. With information overload online, one of the best ways to reach your audience is straight through their inbox—and these text messaging services for small businesses come at affordable rates.

While the pandemic may have put a pause on many people’s plans and caused companies to reduce human resources, the fact remains that the business landscape is still highly competitive. To survive this economic downturn, you need to be smart in adopting strategies to propel your business forward.

Looking for ideas on how you can map out a better plan? The infographic below discusses plenty of great insights on the challenges and entrepreneurial opportunities that COVID-19 presents. Navigate the new normal with newfound knowledge on the business landscape’s current status.


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