- News in Vietnam
- 27 September 2021
85,500 businesses stop operating and the “battle” of survival with COVID-19
Compared to the previous three times, this Covid-19 epidemic clearly shows the erosion of businesses. They live in a feeling of panic when their resources are dwindling and watch other companies leave the market one by one.
According to a report by the General Statistics Office on August 29, in the first eight months of the year, the country had about 85,500 businesses suspending business, up 24.2% over last year. On average, 10,000 firms withdraw from the market every month, equivalent to more than 300 businesses inactive every day.
In this context, Ms. Nguyen Thi Thanh Huong, General Director of Dai Phuc Land (a member company of Van Phuc Group) said that most companies are currently on the highest level of warning about the possibility of taking risks.
Find a new direction.
“This wave of Covid-19 has affected businesses many times over. The economy has not yet recovered. Most businesses have had to close down ‘hibernate’ or suffer a sharp decline in sales. The epidemic also makes customers increasingly tighten their spending and cut unnecessary expenses. Even after the distance, it will take at least 1-2 years for everything to return to normal,” said businessman Doan Thi Anh Thu, CEO of the restaurant chain King Cua.
“We have launched the King Crab bike model to optimize operating costs and selling points. At the same time, deploying more agricultural products and food that can be stored for a long time such as bread, dumplings with prices suitable to customer needs, “said Ms. Thu.
With this model, King Cua wants 80% to serve the delivery and take away segments (delivery and take away), 20% to sit on the spot for quick use (after social distancing). “This can be considered luck when we come up with a model suitable for the current situation,” said Ms. Thu.
Besides, this system chain currently does not accept orders through third parties to cut commission costs instead of selling at a better price to customers.
Aspiration to recover after the pandemic
In the past 12 months, California Fitness & Yoga clubs have had to suspend operations three times. Specifically, the “big” in the fitness industry has shifted to focus on developing online training models, producing and broadcasting a series of home workout instruction videos for free on social networking sites.