Question

Explain and give three (3) examples of challenges faced by small businesses in the era of Covid-19.

Please let the answer be in an easy form...

Answer 1

Below are the few example of challenges that small business faces during era of covid 19.

• Since most parts of the world is affected by covid 19, customers are facing financial crisis thus no customers are willing buy any goods or services from the small business. Therefore small business are not getting enough revenue as they expected.
• Since there is no business operations in the small scale sectors, in order to reduce thier costs companies are laying of thier skilled employees. Thus reduce the labour productivity and high rate of employee turnover.
• As governement are more involved in covid 19 situations, small scale business are not getting enough financial support from the governement.
• Due to covi 19, many countries have stopped the supply chain and logistic services between the countries, states etc. Which have led to lack of raw material in the production industries. Meanwhile companies are not able to meet the customer demand in the market.

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