Why Many Businesses Are Shutting Down during the Pandemic By Israel Figa

The pandemic has wreaked havoc on the planet. People are so uncertain about the future that they can’t even plan for anything anymore. The small countries are only looking at the developed nations and how they have utterly failed in overcoming the spread of the virus. During all this, you have small businesses paying the price for something they don’t know. More and more small businesses are shutting down as the time passes. This has led many to believe that the face of the world and how small businesses operate will completely change in the coming times.

They might be right to some extent. However, small businesses shutting down is not a problem related to specifically the pandemic as per Israel Figa. He believes that there is a different factor at play. According to Israel Figa, these businesses are failing because of lack of preparation and the complete void of any sense of adaptation. When you are not willing to adapt to the changing world, you are bound to fail.

The Pandemic Is Just a Natural Disaster

Here is something you have to think about the current pandemic. Is this any different from any other natural disaster? Israel Figa asks the questions, “Would the same businesses that have shut down due to the pandemic survived had they been hit by a different natural disaster, say, a flood, hurricane, or an earthquake?” According to him, these same businesses would have failed in those scenarios as well. It is not the Coronavirus that has taken a toll on these businesses. It is their lack of preparation for the unforeseen circumstances that has caused this to happen.

People Have Not Stopped Eating

If you look around, according to Israel Figa, you will notice that many restaurants have shut down during the pandemic too. In fact, restaurants and other similar retail stores are the most common businesses that have been hit by the current circumstances. However, you have to ask yourself a question. Have people stopped eating? Are people not eating anymore because of the Coronavirus? If that’s not the case, how can your business shut down? You must have made some mistakes that have caused this to happen to your business. Either, you never prepared a contingency plan or you thought a natural disaster was never going to hit your business.

Lastly, you might be under the impression that not adapting to the modern changes will not cause you any harm. Well, you can see that there are some small businesses that are still afloat. In fact, you look at the current statistics, you will find out that some of them have actually grown to become bigger and better during the pandemic. That’s because they were ready to adapt to the changing situation. They knew they had to have a plan to fight off the consequences of being hit by a natural disaster. At the least, this virus has not caused any damage to your assets.

Imagine an earthquake taking away your business completely into the ground. So yes, you have to prepare yourself for just about anything if and when you have a business.

Conspiracies Won’t Do Any Good

You see, you can believe in the conspiracies all you want, but you also have to think if they have given you anything. Even if you call the whole Coronavirus thing a hoax, you are still facing the consequences of it right? So, does it make sense to keep calling this a hoax and not change at all? That does not make sense at all if you think closely. Even if it is a hoax, if it taking a toll on your customers, sales, and revenue, you have to do something about it. To be honest, you should not believe in the conspiracies at all. Millions of people dying around the world from the virus cannot be a hoax.

Perhaps, you think it is all a hoax and are thus keeping your business open for customers without following ay SOPs. That’s another mistake that is going to cost you a lot if you are a small business. People are scared of the virus because they have lost loved ones due to it. If you are not following the SOPs, they will be scared to enter the premises of your business. How will you convince them that everything is a hoax? Are you going to run after each customer and tell him/her that all of it is nothing? Don’t forget, the person you are talking to might have lost a loved one to the virus.

So, keeping your business open while allowing people to stand in crowds, and not requiring any masks is not the right choice. You have to make the right choice and do what makes your customers feel comfortable when entering your store or restaurant.

Online Is Everything, Everything Is Online

Just a few years ago, people were looking at a major shift. Everything was going online and so you could have easily said that everything was online. However, you now have to add a few more words to that. You have to know that online is everything right now. If you have a small business that provides retail goods, you should find a way out to provide your goods to your customers online. You don’t have to fight against the wave. You can’t win if you are constantly losing. So, make sure that you adapt to the changing circumstances as soon as possible and bring your services to the digital world.

That’s what people expect every business to do right now. If the businesses are closed, they still believe that can find whatever they are looking for online.

Final Thoughts

Israel Figa has touched upon some really important and sensitive points here. He has talked about businesses in the current circumstances and tried to bring wisdom to those who own small businesses. He cares about you, your business, and your livelihood. So, you should not fight a shadow because that’s a fight you can’t win. Make the changes as per the current order of the world and keep your business afloat.