How is your business coping with the current economy?

[eldavis]

I don't know about other countries, but over here things are going from bad to worse. Our local currency keeps depreciating against the US dollars, the price of things keeps increasing by the hour. The one liter coke we use to buy 300 naira in our local currency, is now sold for 550 naira. The price of rice and everything else has increased. Recently the price of transportation has also skyrocket. How is your business coping with these changes?

 

[nomad]

I am operating small businesses, I mostly sell services (freelancing services), digital products (ebooks) and merch. Since I spend zero dollars on products, what ever I make will be my own profits

 

[Stardom22]

In a matter of fact, the businesses oflate face a straining and struggling business environment because the economy is somehow ravaged and not in good fit for the successfulness of the businesses.

 

[SHAHID987]

Current economy is on its bottom line some countries are struggling to survive and they are battling from being default. So it becomes very much difficult to do business here.

 

[freelancermaria]

The same applies in our country. Everything is more expensive. I got some food from Food Panda the other day and was surprised to see that the price of the sandwich I had previously ordered had doubled. It was Php 50 or $1, but today it is Php 92, or nearly $2.

 

[Starmix]

Prices are now skyrocketing all over the world. The cause of this is inflation and the bad manipulations of the businesses here and abroad. It seems we are trapped. All we have to do is find extra income online.

 

[eldavis]

Managing and running a business right now has never been this hard. It has become extremely hard to even get paying customers, especially due to the fact that the price of things are on another level.

 

[Starmix]

We're suffocated with the high costs of commodities. We're like crazy thinking about the problem of the entire world. I pity the helpless old people they rely only on their kids support.

 

[eldavis]

We're suffocated with the high costs of commodities. We're like crazy thinking about the problem of the entire world. I pity the helpless old people they rely only on their kids support.

The situation of things are indeed pretty tough. The worse part is that even customers are not willing to pay, even when they know the cost of things at the moment, they still fight for a reduced price.

 

[Starmix]

The situation of things are indeed pretty tough. The worse part is that even customers are not willing to pay, even when they know the cost of things at the moment, they still fight for a reduced price.

That's right but there's nothing we can do to the customers or else we'll go bankrupt. There are customers who also understand the situation of our economy that's under inflation. All must adjust the situation now.

 

[eldavis]

That's right but there's nothing we can do to the customers or else we'll go bankrupt. There are customers who also understand the situation of our economy that's under inflation. All must adjust the situation now.

Yes there are some who understands this, while there are some who just simply refuse to accept like it's our fault. Like you said we can't really do anything to the customers cause it would affect us in the end.

 

[Starmix]

Yes there are some who understands this, while there are some who just simply refuse to accept like it's our fault. Like you said we can't really do anything to the customers cause it would affect us in the end.

That is right, we need to be firm, it is business and we capitalize on it. We have to protect our business against malicious customers. There are many of them in our community. They want to play around our business.

 

[flower]

There is a global meltdown and that is why you need to involve in a robust business management if you really want to succeed in this trying times and this calls for you to have enough business management skills.

 

[Ratine]

In my country most business are doing so great because most of the entrepreneurs do rely on the credit facilities that are provided by most financial institutions im the country.

 

[Stardom22]

l think it's high time to look forward to other alternative policies and strategies that can revive the business sector to its healthy life again because the economy has really ravaged that sector.

 

[Springtime]

As I am offering translation service and business consulting service, the current economy has not affected my business a lot. I do translation for various types of companies and NGOs. For my consulting business, my clients are mainly SMEs which need advice on how to attract investors and apply for government funding.

 

[cherry123]

Things keeps increasing on a daily basis, and it hits more harder because,the prices of goods and commodities increasing