I got down writing a business blog. I suddenly started thinking as to what business is. Business according to Investopedia is defined as, I quote, “A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause. The term “business” also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. Businesses range in scale from a sole proprietorship to an international corporation. Several lines of a theory are engaged with understanding business administration including organizational behavior, organization theory, and strategic management.”, I unquote.
Reference of business as per investopedia: investopedia.com/terms/b/business.asp
Having known that and seeing the post COVID ground reality, I felt that there is a need to redefine business. Because of COVID, the business survived. The loss incurred may be in billions. Restaurants, movie theatres, small shops, big business houses, schools, and colleges (they can also be considered business entities), you name it, it will be there in loss incurring small, medium, and large establishments. There is a change in the outlook of people in everything they are concerned about.
Restaurants started supplying only to the home, movie theatres have still not opened resulting in laying off all those that are working in the movie theatres, small shops went into big losses, big business became online and are asking their staff to work from home, schools and colleges, which have also become business entities have still not opened and education went online.
The pandemic has ruined the lives of many. Many lost their jobs. Their families are starving. In the current scenario, what is business and what business can anyone think of. Whatever it may be the reason, for some more time, all businesses need to be online, if they have to survive.
One of the persons known to me started a home business of preparing reusable cloth face masks, by employing his wife and children. He stitches and supplies it to a wholesaler and collects his money immediately. He is earning a decent amount per month. Another person known to me is buying sanitizers on wholesale and supplying them to retailers. He doesn’t get paid immediately. The retailers pay him after they sell the product. Good enough for him, because he continuously. This way different small scale business community people have started different relevant things that can be sold during this COVID season without difficulty.
In my opinion, any business done within the legal framework is better than losing confidence and running away from the family.
There are many small business owners, whom I know that have given up hopes and resigned to a situation of bankruptcy. The other day I saw a 30-year-old lady, who was till then working in an IT company, started selling vegetables, after being retrenched from office.
There are many sad stories of people from different walks of life, who literally lost their livelihood, but lived up to the situation and started however small the business is, with whatever amount they could raise.
Life is to live, not to die. Problems are bound to come, and we should not lose our equanimity during difficult times. There is always the saying, “After darkness, the sunshine has to come.”
However bleak the situation may be, there is nothing to lose to try for the last chance.