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COVID HAS BEEN HARSH ON SMALL BUSINESS

 Covid has been harsh on small business

DK Kapila

Today I got talking to the owner of a small busy operating out of a small shop. Highly successful with his multiple lines of small businesses- stationery, copy machine, printing, assignments etc.
He has risen in life the hard way- building upon a ladder of small businesses on the outskirts before reaching Chandigarh and striking real success.
The rent Rs 40000/- per month of the shop, two young employees Rs 17000/- a month plus his son chipping in.
I discussed the current scenario. He said it was still to normalise as students on work from hone had limited needs. But it was improving. However the past eighteen months had been tough and he was constrained to sell off a floor on his small three story house. He planned to sell out completely now as he needed his own space.
He said cash flows were nearly nil while rent electricity and credit terms within the trade remained what they were. He had to pay part salary to his employees too as they were really in need.
Plus all relief was from the banking system which was only temporary. He said for many it was a setback if a lifetime in their small business. His neighbour also stated it had been too too tough. As regards some Cafes and restaurants, one owner was out of it for good. A couple were somehow pulling along for want of any alternative. This is all they knew. The QSRs were also just about managing. The relief had to be in the form of relief from taxes or some financial doles. Not only related to Credit lines from banks. In any case they were in debt or on the margins but gearing up to move on. There was no other way.
These small businesses are our framework for employment and commercial activities. It’s a real challenge to resolve this situation.
Rajiv Lochan, Amber Bhardwaj and 2 others
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  • Harbax Singh
    80% business is in unorganized sector.Pity.
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