Business Resiliency is being tested in the most extreme ways. The impact of this pandemic particularly here in the Philippines is so great that it continues to pull down the economy and left many unemployed.
For the first time in 22 years, the Philippine economy slowed down and contracted 0.6% in Gross Domestic Product.
Listed below is the added operational expense on every establishment following mandatory requirements to flatten the curve of Corona Virus. Figures are inconsistent and depends on each store.
Hand Sanitizer / Alcohol – P520 per gallon. Consuming 2 gallons per week = P1040
UV lamp / Air Sanitizer – P3000 minimum market value
Basic Face Mask & Face Shield – P170/set. Multiply to the number of employees e.g x 10 = 1700
Disinfectant / bleach – P 450/gallon. Using almost 3 in a week = P1350
Lodging for Employees
Non-Contact Thermometer – P1200
Operational cost of P8290 which does not include the variable expenses of shuttle, board and lodging, test kits, rental, manpower expense like hazard pay, and so on.
Weekly basis may reach upto P5000 and an average of P20,000 per month. That brings the operational cost to P80,000 since March.
This article is not to discourage start-up entrepreneurs rather help by giving a glimpse on what to expect on surviving a pandemic.
Entrepreneurship is about survival, which nurtures creative thinking. Business is not financial science, it’s about trading – buying and selling. – Anita Roddick (UK entrepreneur)