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The Effects Of Covid-19 On Ghanaian Businesses.

Covid-19 has affected the business is the country Ghana both positively and negatively. Covid-19 has already worsen the economic growth and development in the couple of months ago.

Looking at the trend of the Ghanaian economy and the trend of Businesses that are operated by the citizens of the country, it shows the inevitable impact of covid-19 disruptions on the Ghanaian Businesses.

How does covid-19 impacts Ghanaian Businesses negatively.

1. Responding to the outbreak of covid-19 in the country, the government of Ghana has closure all borders and partial lockdown of selected areas, and this is already having a challenge on the Businesses.

As a matter of facts, most of the business in the country were closed down as residents in the selected areas were in lock down and the growth of the Businesses in those areas were in recession.

2. Decrease in imports and low productivity in the business sector amidst covid-19 has brought about high prices of goods and services which affects businesses as the entrepreneurs are not able to aquire raw materials for effective running of the various industries.

3. Disruptions in supply chains, with significant supply shortages and consequent price hikes Slowdown in investments and remittances and resulting job losses.

The challenges Covid-19 presents to the business sectors means it’s hard to generalise about how to turn crisis into an opportunity.

As a result of the challenges associated with the coronavirus pandemic mount, there is no shortage of innovative for entrepreneurs.

Technologies to speed up business growth amidst covid-19 pandemic.

1. Using a Scalable digital business models will start to replace product focused operations. Example, Subscription model. A subscription business model can be applied to both traditional brick-and-mortar businesses and online businesses alike.

2. E-commerce. consumers who normally visit physical stores are increasingly shopping online with the result that e-commerce is booming especially when it comes to tinned goods, pasta, health and sanitary products.

The uplift in e-commerce may well become permanent if people remain wary of mingling in real life, and increasingly replace shop visits with online purchases.

Content created and supplied by: Zy0z (via Opera News )

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