The coronavirus lockdown has sent business morale plummeting. Small entrepreneurs share their growing concerns Businesses take a beating
Apart from battling health-related concerns about the spread of the novel Coronavirus, many owners of small businesses are worried about the financial losses they are suffering as a fallout of the pandemic. We speak to a cross-section of small entrepreneurs about their problems and fears.
K. Sankeerth, the managing director of an even management company, had to close his firm’s office. “We cancelled more than 12 events. mostly weddings and other parties,” he says. He stresses that he has made sure that the staff stays home. “Though there is a huge loss for us financially, we believe nothing is more important than saving one’s life,” he explains.
Nama Prem Kumar, director of a printing company, is afraid it will take a long time to recover from the losses he is suffering. “This year did not start off well. With everything being shut due to the spread of the virus, there is no way that I can be sure things will be good going forward. But I hope to recover from the situation soon,” says Prem.
Hyderabad-based designer Sangeetha Rajesh also has had to shut down her studio. “People don’t really buy clothes on a daily basis and this [current situation] has certainly affected us,” she says. “We don’t get proper loans for our business and that becomes an additional challenge,” she laments. “Though my studio is shut, I have to pay my employees, as the present situation is not their fault, or mine,” she adds. “I am waiting to hear that the government says everything is fine and we can start living our normal life,” she says, but fears that “it will be a hard task for me to get back on track.” The food industry has also taken a massive beating. Shakeel, who owns a restaurant, said, “We have to pay the rent, and it is heavy.” He is, however, thankful to the owner of the premises for waiving the rent for two months. “I have 30 employees,” says Shakeel, “and I have to pay them and also provide transport to those who want to return to their hometowns. I have to provide food and pay half the salary to people who remain here. Even after business resumes, it will take time for us to get back to normal,” he concludes.
For the business community, the rise in COVID-19 cases across the country is a twoedged sword, and they can only hope that things will get better soon