How Post Covid era bring new opportunities and challenges for business.
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The life after Covid 19 has been change dramatically. no one can assume that the whole word can be locked due to a non visible virus. biggest industries like airline has to face unprecedented challenges to survive in the market. millions of people has to leave their job due to COVID19 circumstance or has to compromise financially.
Few countries already overcome the situation and few are in the line to manage smooth traveling and normal business life. but on the other hand few countries are still struggling to control it and manage in a efficient way. there are several vaccine are available in the market and gives us hope and positivity to fight with this pandemic.
Sectors has great potential after COVID19
As everyone is knowing these facts that medical and pharmaceutical
Start-ups face significant challenges during COVID-19
Most existing start-ups face significant challenges due to the COVID-19 crisis, as they are more vulnerable than older incumbents to the shock brought by the pandemic. They tend to engage in high-risk activities compared with other small and medium-sized firms (SMEs), face constraints in accessing traditional funding, and have a formative relationship at best with suppliers and customers. They also often crucially rely on a small founding team, and this can further increase their vulnerability to labour supply shocks during the pandemics.
Source: https://voxeu.org/article/challenges-and-opportunities-start-ups-time-covid-19Policy responses can help speed up the recovery
Policy interventions should aim at tackling short-term challenges, supporting short-term liquidity and availability of funding, as well as providing the right conditions and incentives for innovative start-ups and potential entrepreneurs and boost their potential and capabilities to grasp them.
In particular, policymakers may consider the following:
1. Tackle short-term challenges
Support short-term financial needs of existing start-ups (e.g. with loan guarantees, direct lending, grants or subsidies, keeping in mind start-ups’ specificities in designing these policies) with minimal bureaucracy, and help secure jobs and incomes of their workers (OECD 2020c).
Raise awareness about existing measures and support initiatives that provide guidance to help start-ups adapt to the COVID crisis (e.g. through official platforms that centralise information on support programs, provide advice on cash-flow management, best practices to connect with investors remotely, etc.).
Support R&D and prizes for radical innovations to help tackle the health crisis, and support start-ups adapting their products (OECD 2020d).
Promote investments in skills and online training especially during the crisis, to prevent skills depreciation and encourage upskilling of start-up workers.
2. Reduce barriers to entrepreneurship and provide the right incentives
Reduce administrative burdens for start-ups by implementing simplified procedures, and accelerating transitions to e-government. Minimise regulatory uncertainty, both during the crisis (e.g. red tape) but also after (e.g. health and safety requirements in the early recovery phase), as start-ups suffer most from these uncertainties.
Reduce possible barriers associated with the entrepreneur status, especially those that may be seen as particularly critical during and after the pandemics (e.g. related to access to health care and paid sick leave), making social protection more portable. In other words, link entitlements to individuals rather than jobs.
Ensure that funding remains available for innovative start-ups at all stages of their development, in co-ordination with private actors. For example, provide additional public funds to public venture capital umbrella-fund-investors, which can be used in co-investment with private investors for financing rounds of start-ups; take over shares from defaulting fund investors with additional public funds; or simplify venture capital financing).
3. Boost entrepreneurial potential
Promote entrepreneurship training, also in combination with benefits for displaced workers and lifelong learning, to facilitate (un)employment-to-entrepreneurship transitions, with particular attention to disadvantaged groups.
Promote university-business collaborations to facilitate industry applications of innovation and university-to-entrepreneurship transitions.
Promote network developments, including those linking job seekers and start-ups and those facilitating access to international markets.
Maintain investments in the start-up ecosystem, notably to ensure incubators and accelerators continue playing an important medium-term role in providing guidance, coaching, and mentoring to potential entrepreneurs and existing start-ups.
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