Articles worth reading
Las Piñas General Hospital and Satellite Trauma Center (LPGHSTC)

Las Piñas hospital up for upgrade 

account_balanceLas Piñas access_time5 days ago

The House of Representatives passed on third and final reading a bill filled by Las Piñas Rep. Camille Villar to increase the bed capacity of Las Piñas General Hospital and Satellite Trauma Center (LPGHSTC). Villar filed House Bill No....

President Rodrigo Duterte

LGUs told to bring virus patients to hospitals

account_balanceMetro Manila access_time5 days ago

President Rodrigo Duterte asked local government officials to help coronavirus disease (Covid-19) patients by expediting their hospitalization without worrying about expenses. In a public address late Thursday night, Duterte asked them to assist Cov...

Photo Courtesy of bgr.com

Vendors report higher computer sales 

account_balanceMetro Manila access_time5 days ago

Technology vendors reports an increase in computer sales as employees began to work from home and students took lessons online. In a "24 Oras," a sales representative said that upon the implementation of the MECQ on May 16, customers troop...

Metro Opinion

Not business as usual

account_balanceMetro Opinion account_circleLeigh Bellosillo chat_bubble_outline0 Comments

PRIOR to the pandemic, a friend’s business was doing good. It’s a single proprietorship public relations (PR) firm and in the category of SMEs (small, medium enterprises). 

Back then, clients abound, particularly those in need of external PR to reach out to the media and target customers to market a specific product line. COVID-19 and the ensuing lockdown altered my friend’s business model. Allow me to keep the identity of my friend and those similiary situated SMEs whom I’ve conversed with lately. 
The social distancing norm is an obstacle that has to be seriously taken into account in going back to business as holding events is no longer permissible at the moment or in the so-called New Normal. 
Now, they are awaiting exactly what the national government can offer to assist them going back to business. 
On table is the worse case scenario of taking the bitter pill. By closing shops. 

Quiting while one is ahead is definitely one of the better alternative rather than to lose more money in the process. 

This is the reason friends in the legal and accounting businesses are currently busy as bees. Companies readying to go back to operations are finding ways on how to keep their business afloat. First available option is to downsize, streamline manpower in order to cut labor cost and  reduce maintenance and operating expenses.

Going around the metro, I’ve gathered that one radical move during the ECQ period and in anticipation of slow reopening of the economy, fragmatic SMEs have already engaged the services of labor luminaries to draw up documents in preparation for a possible mass layoff, retrenchment, end of contract and offering early retirement. 
In order to avoid the tedious possible labor disputes that may arise, the engagement of reputable accounting firms have increased to make sure that the separation is within the legal bounds. 
Another alternative is to try to keep your business afloat. Because of the foregone revenue due to the ECQ, many companies are now in negotiations with the banks and other lenders to seek for a restructuring of their current loan obligations. Others are seeking to secure additional loans for their businesses to still continue to operate. 

While, it could taint its clean, purely white credit standing and worthiness-- even if they don’t want this route--some small businesses have no option but to accept the inevitable-- simply because they are on the verge of penury since there was no income to speak of during the lockdown period.

Still others are thinking of no longer renewing their rental space in shopping malls. Instead, they just have to sit it out the pandemic crisis, only to return operations when things have normalized and stabilized. As to when this will be, it’s beyond me.   
I am no grimmer. But the vision ahead is hazy. Is quiting while one is believed to be ahead a more realistic alternative?
What about those who are just starting a business? Or are have not broke even in their initial capital investments. 
Long and short. It's not business as usual for most entrepreneurs and industries.

date_rangeDate Published
2 weeks ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

San Juan ready to address more workers

account_balanceSan Juan chrome_reader_mode8 hours ago

San Juan City is ready for the entry of more workers in the city under the general community quarantine (GCQ). This was according to Mayor Francis Zamora, who inspected police checkpoints, public transport terminals, and commercial areas in the city...

Photo courtesy of: PIO Mandaluyong

Mandaluyong trike drivers subjected to swab tests

account_balanceMandaluyong chrome_reader_mode4 days ago

About 42 swab samples taken from 277 tricycle drivers in Mandaluyong City who earlier tested positive in the rapid testing turned out negative in the confirmatory swab test/ In a statement, the Mandaluyong City government said all 277 trike drivers ...

Valenzuela seniors receive P3,000 

account_balanceValenzuela chrome_reader_mode6 days ago

About 3,209 elderly residents in Valenzuela City received P3,000 in social pension on May 25. “The COVID-19 (new coronavirus disease) pandemic has greatly affected senior citizens. Since the declaration of the enhanced community quarantine in ...

Manila Mayor Francisco Isko Moreno Domagoso / Manila PIO

Manila keeps liquor ban 

account_balanceManila chrome_reader_mode8 hours ago

Manila is keeping the ban on the sale and public consumption of liquor in the city. Manila Mayor Francisco “Isko Moreno” Domagoso said residents have been asking them whether or not the liquor ban in the city has been lifted now that the...

Army commander, Lt. Gen. Gilbert Gapay leads the launching of the PA's revitalized YouTube channel in Fort Bonifacio on Monday (June 1, 2020) / PNA

Army revitalizes YouTube channel 

account_balanceMetro Manila chrome_reader_mode1 day ago

Philippine Army (PA) commander, Lt. Gen. Gilbert Gapay, led the launching of the PA's revitalized YouTube channel through a live broadcast at the Army headquarters in Fort Bonifacio, Taguig City. “Despite a new normal, the Army continues i...

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Marikina to conduct targetted testing CAB won't allow domestic flights in first week of June DPWH to set up bike lanes on EDSA Gov't calls for cooperation under GCQ Pasig frontliners undergo mass testing 'Back-riding' still prohibited in GCQ areas Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature