He emphasized the existence of opportunities to create wealth despite the repercussions of the "virus"
Financial expert: 21 advice for the continued work of companies after "Corona"
One in 10 companies believe that they should change the nature of their activities in general after containing the risks of "Covid-19".
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Mohamed Helmy: “Investing in pioneering and innovative ideas is one of the best ways to invest in times of crisis.”
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The financial expert and tax agent, Mohamed Helmy, specified 21 advice, steps and procedures, to ensure the continuity of companies conducting their business in light of the Corona pandemic and after its end, stressing that in light of the global spread of the Corona epidemic (Covid-19), 80% of companies intend to change the way they manage Its business in the future, and that four out of every 10 companies in general should change the nature of their activities in general, after containing the risks of the virus.
He pointed out that market conditions, due to the repercussions of the virus, create great opportunities for making huge fortunes.
In detail, Mohamed Helmy said, “The practical history of the wealthy and companies say that most of those who achieved great fortunes were the result of seizing opportunities and professional economic dealing with crises with an elaborate lifestyle. Economic history in theory usually indicates that every crisis has a peak, and then it is quickly The severity of any crisis will not diminish or disappear completely, to begin after that the upward phase ».
He added: “Most of these rich successes that come from individuals are investing in entrepreneurial ideas and innovative projects as one of the best ways to invest in times of crisis, and a large proportion of the business sector believes that this epidemic will have a lasting impact on the global economy, which is the most evident among small and medium-sized companies. , Service providers and the hospitality and hotel sector ».
Helmy added: “Moreover, four out of 10 companies believe that companies in general should change the nature of their activities in general after containing the risks of the (Covid-19) virus, and it has been found that service providers and wholesale and retail companies are the sectors that think about this the most. Direction ».
He indicated that in light of the global spread of "Covid-19", 80% of companies intend to change the way they conduct their business in the future by:
Reducing direct costs by searching for a cheaper, high-efficiency alternative.
- Merging production areas to increase efficiency and reduce expenses.
- Negotiate with suppliers.
Reduce logistical expenses.
- Refinancing and scheduling borrowing.
Establishing flexible production lines that do not require a minimum of labor.
- Outsourcing.
Better manage cash flow.
Reduce office space and remotely manage supply chains.
Starting an internet marketing platform.
Establish procedures and controls for working from home.
Invest in automation and information technology.
Better inventory management.
Selling non-core assets.
Offer discounts on early payment to customers.
Negotiate with insurance companies and change policy specifications.
Renegotiate with the property owner, no matter how convinced you are that he will not reduce.
Increasing the number of suppliers, distributors and e-commerce.
Digitization of business.
Increase supply and logistics efficiency.
Create a contingency reserve, whatever the profitability of business sectors.
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