Changing local business landscape in Bangalore
Do we need to thank the coronavirus crisis? or is the world changing for its own reason?
Sam Nile
0
Personally I don't know!
Reality is, the economic recovery depends on consumer spending —but shopping will never be the same " are we changing "? Small business is no more seems to be a phobic factor. We have the opportunity in all the sectors with its own uniqueness. But as recent trends indicate, small businesses have demonstrated their ability to adapt to uncertain circumstances. This is where we are reconnecting back to our origin of human civilization age. where there was no concept of jobs "everyone in trade "
As per the general tendency of people, I have observed that they are not really scared of starting a small business when their parents' businesses have been a part of their day to day lives to cover loss of income and provide a stable job. Which is a good sign, everybody is starting to get into a self-sufficient ecosystem. The less problematic impact will happen to the community, it is good to create healthy competition and most of the time it's usually a quality product. I have noticed that the same products selling on the supermarket shelf for Rs 80- 90 are showing nowadays for Rs 50 on the side of the road. This, fortunately, happens to be a quality and tasteful product. We all know that the profit margin of anyone that does business will be up to 30-50% for any product that is sold. This Rs 50 product, we would be paying up to Rs 80 or 90 if it was purchased in the retail market. Why don't we realise how to import and vital our ecosystem is to provide affordable and sustainable food services for us to survive, we waited until 2020 to make us think about these tiny little microspecies called Coronavirus (COVID-19)?
The basics of starting something is very simple, understand what people want and how they want this. What is lacking in the market and cater to that? Anything above and beyond, any bells and whistles are additional and have recurring costs. So when we buy a beautiful factory product, we are forgetting the fact that we are paying not only for the product but for the artwork, printing and the electricity that is being used. Do we really need that? Remember we all do business every day, every second. If you lose your job or an opportunity to earn money and survive, don't get disappointed. Instead, start something today. There are a businessman and businesswoman in you. If you are still wondering where do I start, anything is called a business. If there is a need you can survive.
