10 Ways Iran Local Business is Dealing with the Coronavirus
10 Ways Iran Local Business is Dealing with the Coronavirus
Already grappling with the economic hardships brought about by U.S sanctions as covered in more detail over at runrex.com, Iran has been hit hard by the coronavirus crisis, with local businesses bearing the brunt of the current crisis. With a lockdown in place to check the spread of the virus, with Iran being among the worst hit countries out there, here are 10 ways through which local businesses are dealing with the coronavirus pandemic.
One of the common themes for most local business owners in Iran has been the withdrawal of savings from their savings accounts, as is covered in more detail over at guttulus.com. Most of them are having to lean on their savings to see if they can keep their businesses going long enough to see out the coronavirus pandemic. Banks have recorded high numbers of people coming to withdraw their savings as they look to weather the coronavirus storm, with this being one of the ways local businesses in Iran are dealing with the crisis.
Help from the government
With most local businesses in Iran having to deal with loan payments as well as payment of taxes, the government has looked to step in and help by announcing that local businesses in the food, transportation and tourism industries will have 6 months more to pay back any loan interests and taxes, which has been well received and is yet another way through which local businesses in Iran are dealing with the coronavirus crisis.
Closing down operations
As per discussions on the same over at mtglion.com, many local businesses in Iran have had to close down, at least temporarily, as a means of dealing with the coronavirus pandemic. This has been done as a means of keeping costs low, with very little revenue coming in to offset costs, and also so as to adhere to government orders to close nonessential businesses so as to stop the spread of the virus. Most local businesses are hopeful that the lockdown and the pandemic will be over sooner rather than later.
Pivoting towards relevant goods and services
As per discussions on the same over at runrex.com, Iran is highly dependent on tourism, particularly religious tourism with a number of her cities including Qom being marketed as a holly city. With tourist not coming in anymore, local businesses in these cities are pivoting towards producing and selling products that are relevant to the current times. An example is that of local textile businesses beginning to produce and sell facemasks to try at least to not only help their local communities, but also bring in some business.
Most local businesses in Iran, particularly local hotels, are operating skeleton office, with very few employees coming to work as a means of dealing with the coronavirus crisis. As per the gurus over at guttulus.com, most are having their employees stay at home or work from home if possible, to keep them safe, but also keep the costs low, which has become necessary with hotels particularly recording very low numbers as far as bookings are concerned.
Gift cards and vouchers
In a move that the gurus over at mtglion.com are advocating for local businesses out there to leverage, another way through which local businesses in Iran are dealing with the coronavirus crisis is by making gift cards and vouchers available for purchase. This way customers are able to support local businesses, helping to keep them running and at the same time they know that they will be able to redeem these gift cards and vouchers when the crisis passes, which is a win-win for all parties involved.
Local restaurants and eateries are also pivoting towards home deliveries in yet another way through which they are dealing with the coronavirus crisis. With streets in Iran deserted as people stay at home fearing that they may contract the virus, local restaurants and eateries have been badly affected as per discussions on the same over at runrex.com. To deal with this, we are seeing many move towards home deliveries, which has enabled them to make sales while still maintaining social-distancing.
Unfortunately, in a bid to cut costs and given their inability to pay employees, there are some local businesses in Iran which have had to layoff staff a means of dealing with the coronavirus crisis. As is revealed in discussions over at guttulus.com, many local businesses have been struggling to maintain their wage bill, particularly due to the closure of nonessential businesses and therefore as a means of coping, some have had to layoff staff while others have send staff home on leave without pay in what is an unfortunate consequence of the coronavirus pandemic.
Moving businesses online
Those that have been able to are also looking to move their business online in yet another way through which local businesses in Iran are dealing with the coronavirus crisis. With stores closing due to the lockdown enforced by the government to stem the spread of the virus, some local businesses are pivoting towards conducting their business online, a move that comes highly recommended by the subject matter experts over at mtglion.com. Many are encouraging customers to visit their online stores and make purchases from the comfort of their homes, which is definitely helping bring in business.
Incentives and discounts
In order to bring in business, many local businesses have had to slash their prices as well as offer incentives for their services such as free or discounted deliveries and many others. This has become necessary as majority of the population in Iran are facing tough financial times and therefore to encourage them to buy goods and services, local businesses have had to give them financial incentives and discounts. Some are even just looking to move their current inventory, at reduced prices, particularly those dealing with perishable goods.
If you are looking for more information on this and other topics, then the brilliant runrex.com is the place to go to for that and so much more.