Food and Resource Economics experts study sales, finance, marketing, management, environmental policy, law, international trade, math, economics and are helping the companies to overcome the pandemic impact. See 5 tips the Food Resources Economics Specialist Agustin Adrian Demartini delivers.
Know how to deal with this new scenario post-pandemic is being a hard challenge for many businesses around the U.S. The U.S. economy – the largest in the world – has been particularly hard hit by widespread shutdowns aimed at containing the spread of COVID-19, the disease caused by the coronavirus. Back in May of 2020, eighty-one percent of small U.S. companies surveyed by Veem, a global payments network, expected the new coronavirus pandemic to affect their business over the next 12-16 months, and nearly 90% are bracing for an economic slowdown.
Also in May of this year, the first results from the new U.S. Census Bureau Small Business Pulse Survey released show a large negative effect from COVID-19 for the majority (51.4%) of respondents and an expectation that it will take more than six months for their businesses to return to normal. To face the crisis, the Food Resources Economics professionals are being worked to help the entrepreneurs to find a new direction for their own businesses.
“Our career is being so relevant for those businessmen that doesn’t know how to face and win this challenge alone. They don’t have to be alone, that’s the point”, says Agustin Adrian Demartini a Food Resources Economics Specialist with large experience in the food industry in the U.S. “We need to think outside the box and learn all together how to deal with the new normal”, explains.
Agustin Adrian Demartini delivers 5 tips for the business to overcome the pandemic scenario and begin to grow again. “It appears to be so easy, but it’s always necessary to count on specialist support to avoid mistakes and even more losses.
1) Going online (implementing delivery or online services)
2) invest in marketing to make sure you let your customers know you are still operating and that you are doing it with the necessary precautions.
3) Search for alternative revenue streams that can help alleviate the financial stress caused by the pandemic. Ex. Business to business opportunities or consulting.
4) Take the time to develop and test new products, services, and ideas you might have so that when the economy fully reactivates you are ready to start with all the strength.
5) Be patient. As the economy starts to recover, customers will have more capital available to spend.