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30% of the Small Business has stopped functioning in this pandemic

30% of the Small Business has stopped functioning in this pandemic

May 21, 2020: According to Facebook research it states than 31% of the SMB and 52% of the personal business have stopped functioning. It is well known to us that approximately 70% of the new job in the countries are from the Small business and as the unemployment claim raising to $36.5 million people last week we are in a state to contribute much towards the small business and help them to get them on track.

There have been layoffs in recent days as the company had no choice but just let go of the employee as there is no cash flow the markets are not performing, there is no new customer, the company budgets has shrunk. When we asked the companies and managers if they would hire the same number of employees whom they laid off, the answer was “NO” for 45% of the company where they would just need the limited resource.

It is not that the companies are not willing to hire the same number of employees but, the company is not able to hire the same. The major problems for all the companies in the next few months are that there would be less demand, there will be less cash flow. The companies in debt would have to pay it back irrespective of having customers or not.

Facebook has launched a new app called Facebook Shops, where the company is allowing the companies to create their brand store online with the option to design the shop according to brand color design and images on the cover etc. The customer has an option to communicate directly to the owner through messenger, Whatsapp, and Instagram messages will replicate the similar format of going to store and asking the salesperson within the store.

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