Nightmare for Business
COVID-19 pandemic has proven a nightmare for the businesses and has unleashed a series of unprecedented events affecting every industry right from Tourism, Hospitality and IT to Entertainment and Sports . Complete lockdown is the least thing a business or industry would ever anticipate to deal with it. The situation becomes extremely difficult when operations are stalled at the peak of business season. While all businesses have been affected by loss of opportunities and financial stability during lockdown due to COVID-19, the sports goods industry is among the worst hit.
Impact On Sports Manufacturing Companies
The sports businesses got shut at a time, when sports activities and the volume of business had hit the peak. According to a survey, the entire sporting goods sector is highly impacted by the COVID-19 outbreak with the companies announcing a huge loss of turnover, since the beginning of the global crisis. As per the latest survey, sports companies are in urgent need of liquidity and cash flow support. Most of the companies are currently struggling to cope with fixed costs(rent, employment costs etc.) which create remarkable liquidity shortage. While there was optimism in some quarters that the lockdown measures will be a short-term blip to business, it is believed there will be lasting disruption.
Sports goods manufacturers are facing innumerable challenges. Shortages in materials and labour are complicating the supply chain situation. Seventy percent of manufacturers have material shortages due to the closure of their suppliers and sixty percent, due to forced company closure. Consolidating and expediting production, worker retrenchment and automation are some of the ways, by which sports goods manufacturers are responding to the pandemic.
But what next? How will millions of people survive who are dependent on the sports manufacturing industry.Seven months have passed already and we can’t see any silver lining in these dark clouds.
Outbreak Impact and Government’s Role
The present impact of the outbreak on production, depends on various factors. Widely, it includes Governments’ social distancing measures, the evolution of the virus in each country, orders’ cancellations from multiple clients, and the overall clear lack of short-term and long-term visibility for the companies. The industry needs concrete and effective measures from national governments instantly to address the current liquidity gaps and strengthen their cash flows. But it is very vital to also start initiating gradual longer-term strategies from now, in order to re-launch the economy sustainably in a safe and coordinated manner once the crisis is over.
But, will the crisis be ever over?
Neither the Government knows nor the people.
Nobody on this planet knows what’s next?
When will this crisis be over?
Will it ever be over?
Shall the sports manufacturing companies shut down?
What’s The Way Out?
The only way out is Strategy coupled with Astrology. Celebrated Astro Strategist cum Business Astrologer Hirav Shah who has proved his mettle in the fields of Corporate Businesses, Politics, Sports, Entertainment industry, Tourism and Hospitality, Real Estate sector and many other areas with his impeccable insights of business and astrology, asserts
Unique Business Strategy coupled with Astrology, will aid these millions of sports goods manufacturers to achieve their business results sooner and in a much better way.
Shah also adds,
You need to Strategize from today,
not next week, not next month,
not when you have time, or when you feel like doing it .
Don’t wait for the perfect time.
The perfect time is NOW !