Scribd
Upload
161 views4 pages

Financial Fragility: Entrepreneurs Can Certainly Provide Many Benefits To Individuals, Society As Well

The document discusses the effects of COVID-19 on entrepreneurs and businesses. It identifies threats to business owners' survival and financial stability due to the economic crisis. It investigates whether burnout levels have increased for entrepreneurs during the pandemic due to risks of illness, lockdowns, or bankruptcy. The pandemic has transformed many industries and negatively impacted the global economy. It discusses the effects on the economy, society, and individuals through decreased productivity, job opportunities, and lack of business continuity plans. Automation, remote work models, and strategic marketing are proposed as solutions to problems created by the pandemic for entrepreneurs.

Uploaded by

Mohd Azmezanshah Bin Sezwan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
161 views4 pages

Financial Fragility: Entrepreneurs Can Certainly Provide Many Benefits To Individuals, Society As Well

The document discusses the effects of COVID-19 on entrepreneurs and businesses. It identifies threats to business owners' survival and financial stability due to the economic crisis. It investigates whether burnout levels have increased for entrepreneurs during the pandemic due to risks of illness, lockdowns, or bankruptcy. The pandemic has transformed many industries and negatively impacted the global economy. It discusses the effects on the economy, society, and individuals through decreased productivity, job opportunities, and lack of business continuity plans. Automation, remote work models, and strategic marketing are proposed as solutions to problems created by the pandemic for entrepreneurs.

Uploaded by

Mohd Azmezanshah Bin Sezwan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

Introduction

The COVID-19 crisis effect of identified threats to business owners, as their businesses' survival is
frequently directly at stake due to the increasing economic crisis. This existential threat, combined with
their critical role in the economy, is the impetus behind the plethora of public financial assistance
schemes being implemented around the world. However, there are no mental health support
programmes. We intend to investigate, first, whether burnout levels have increased during the crisis,
and, second, whether burnout levels during the COVID-19 crisis are affected by the threat of becoming
ill, having to stay at home due to the lockdown, and/or having to declare bankruptcy due to the
economic downturn.

The corona virus pandemic has tranformed bussines entrenprenur huge


challenge for many industries and many organization until to people effected. So,
this is the trend issue have come out of the corona virus crisis. Successful
entrepreneurs can certainly provide many benefits to individuals, society as well as to the economy of a country.
The current issue is to be a major issue for every country because the source of
the country's per capita also depends on the success of business entrepreneurs.
EFFECT
ECONOMIC
-Financial Fragility
The most significant negative impact of entrepreneurs on an economy is resource plundering,
which can have disastrous consequences for the environment. While such negative consequences are
mitigated to some extent in developed economies due to the implementation of environmental
protection standards and regulations, this is not the case in developing economies. Furthermore,
entrepreneurship necessarily involves a certain level of business knowledge and know-how, without
which entrepreneurial ventures frequently fail, resulting in significant financial hardship and, in
extreme cases, destitution.

Im agree, world economic is an interconnected network and each individual has


direct relationship either with the retailer selling the goods, employers who pay
salaries, or bank that provide home loans, when one propety is affected, economy
in a country will also be affected. Most of countries will experience an economic
recession. Decreased production of goods, and lack of demand cause many
business to lose money and could no longer afford to hire workers until some had
to close business. Last, the policies and asssistance provided by the goverment
are essential to reactive the economy.
SOCIETY
- Decrease job Oppurtunities
As stated in the previous section, one of the main reasons that individuals tend to become entrepreneurs
is because they are unable to find suitable jobs. But, due covid -19 , by being enterprising, creative will
through many challenge and employee finding a market niche, not only are they not able to generate an
income for themselves but also to employ other individuals in their business operations. Therefore, one
of the most impacts that entrepreneurs make on society is decrease job creation and increase of
unemployment levels. Therefore based on everything that has been stated above it is apparent that
entrepreneurs can cause a nagetive degree of impact on an society through job creation and income
generation couple with status in married ensure the needs of family.

-Changing perspective of the business world among the self -employed community and the impact on
the working community. Without a doubt, entrepreneurship has been heavily influenced by Covid-19.
Some state that this perception changes. In the future, these changes may have a negative impact and
discourage new entrepreneurs. new entrepreneurs can be a source of progress by providing
employment opportunities to the community now because of the lack of employment opportunities and
even layoffs in certain companies

PEOPLE
-Decline in productivity
With facilities being shut down temporarily, or permanently, companies were compelled to terminate
their employees or send them on unpaid leave, and even a slight decline in the number of employees
has led to decreased productivity and serious issues in businesses During this extraordinary time, staff
also experienced mental stress due to work or family pressures, which had a cumulative impact on their
productivity over these months, making it difficult for the entrepreneurs to compete in the world

-entrepreneurs are stuck without the preparation of a business continuity plan


rumors of business closures and layoffs due to the COVID-19 outbreak are getting hotter, especially on
social media. business owner do not have any plans to deal with emergency situations such as the threat
of the COVID-19 pandemic. Based on the Federal Emergency Management Agency (FEMA) USA,
there are four phases in emergency management, namely mitigation, preparedness, response and
recovery. However, most do not emphasize the recovery phase which is the most important element in
determining the viability of a business, where in this phase a business must take all necessary steps to
enable their business to return to normal operation after a crisis. In short, the average business entity is
not prepared to face movement control orders (PKP) as a result of the COVID-19 pandemic because
they failed to provide a business continuity plan (BCP) which is a planning plan that allows an
organization to respond, recover, restore and restart their operations after a disruption or crisis.
Making the national vaccination program underway, All the country should moving positively together
with the global economic recovery.
MORAL OF ISSUE

COVID-19 ‘hit’ entrepreneurs like a tsunami. Crush all the many years of effort made over the years in
the business. The Covid-19 pandemic has had a severe impact on the economy, but it also has the
wisdom for entrepreneurs to be more creative, dare to change business models to better suit the current
situation and try new strategies to stay afloat and save the company's employees. in addition, the
considerate attitude of business owners towards their employees in order to continue to be able to work
in these situations. Finally, the attitude of politicians who care about small entrepreneurs in channeling
aid from various sources.

Finally, the responsible attitude of governments such as our country, Malaysia, has provided
assistance to business agencies such as GKP. This shows that all agencies need to work together
to continue to maintain the position of business entrepreneurs
All the countries should continue to focus on supporting economic activity, escpically, for the
household expenditure of the people, and important public service such as health, safety and
education, In addition, integrated international cooperation should be mobillized to reduce this
covid -19 infection such as ccomprehensive vaccine distribution.

SOLVE THE PROBLEM


1. Automation

Help a team capable of managing the startup company with you. They need to be able to shoulder
several responsibilities at the same time and who can work without guidance. However, these
individuals are often the best in the industry and will most likely not agree to lower salary payments in
addition to career risks that may need to be addressed. Use your network of family and friends to
identify talents who are excited to participate in existing business change

Working at home is what of lots of business experienced is that they had to have people work
from home. And lots of business are now rethinking the entire business model they really
thinking do we need offices but if we really honest with ownself productivity has gone up for
businesses but when people work from home is not necessarilly is not good for everyone, there
are some people that have amazing and comfortable office in their houses they have equipment
very well.
3. Strategic in marketing
the world community is becoming smarter in marketing science and technology based products.

Autamation
 Work automation uses machines or software to complete repetitive tasks,
dangerous tasks, or tasks that require considerable strength, flexibility, and
endurance. ... Machines and robots can replace people and lift more, pull
more, and build more than people . addng with you can make sure that you
can work safe than from virus covid 19.

You might also like