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SOCIO ECONOMIC NEW OPORTUNITIES

by Ricardo Padilla

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SOCIO-ECONOMIC IMPACT OF THE COVID-19 VIRUS
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E BOOK
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RICARDO PADILLA SILVA 3RD A
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NEW WAYS TO GROW DURING PANDEMIC
New micro-enterprises appear
Many businesses around the world closed their doors for extended periods last year as societies implemented lockdowns for COVID-19 and people were asked to stay home. Some of those businesses will not reopen, others opened a few months later.

Although there are some that have found a new distribution channel in electronic commerce that allows them to connect with the demand for their products, many others do not have this possibility.

Problems for big companies
Big companies got down during the last two years, they passed really difficult moments and also some workers renounced.
COVID-19 is having a very big impact on the economy and people nowadays are trying to search for new ideas to grow again.
Because of these problems, microenterprises appeared.

Microenterprise, also known as a microbusiness, refers to a small business that employs few people.

A microenterprise usually operates with fewer than ten people and is started with a small amount of capital advanced from a bank or other organization.

Microenterprises usually get bank loans to grow, but others prefer to do it in other ways. In my opinion, bank loans are not as reliable as I expected because you end up paying up more money than you receive because of quotes.
MY AUN´TS EXPERIENCE AS A MICRO-ENTERPRENEUR
Faced with this endemic complication, my aunt opened a small grocery store in her house; she did not need loans to remodel the place; my family and I helped and advised her that her business was perfect.
He had no difficulties and now sells his products quickly and easily. In the beginning, it was challenging since my aunt was new to it and did not understand much, and people did not know her store, so they did not come.

Now she sells every type of product for the home, such as rice, beans, condiments, oil, fruits, vegetables, toilet paper, and lots of candies.

Before she got introduced to that micro-enterprise, my aunt worked as an engineer, but the company had problems paying, and my aunt left.
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MY OPINION
BANK LOANS FOR MICROENTERPRISES
It is not good to ask for loans since it is a complicated process. However, you can receive a lot of money from this loan, and people prefer that.

For example, my aunt doesn´t need a bank loan to grow because it was a tedious process.





From my point of view, I think people try to get loans to grow fast and because they don´t have enough money to cover the expenses.

I consider bank loans as a good strategy for new companies but you need to know the disadvantages.
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HOW WOULD I HELP MICROENTERPRENEURS
For people who are just starting out with their small business, I recommend being fully organized and knowing the cons and pros of it.
Also know the skills and follow the example of other companies but always maintain your own style.

It is important to know what products you are going to sell in addition to calculating the financing of the materials.
"YOU ONLY FAIL WHEN YOU STOP TRYING , CHANGE YOUR LIFE AND NEW OPORTUNITIES WILL OPEN"
RICARDO PADILLA SILVA 3RO A
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