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COVID-19: Impacts on Businesses — Social Media Enterprise

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COVID-19 has caused major disruptions globally. This crisis is intensifying and evolving every now and then. At the current state, public healthcare systems of many countries are taking actions to curb foreigners from entering their boundaries.
Undoubtedly, the focus should be on controlling and mitigating the outbreak. However, the economies have been significantly affected. Global financial markets have created fears in many investors about the pandemic. The negative impacts at this juncture have led to many companies facing great challenges. How can enterprises prepare for such crisis and turn it into an opportunity?

It is a privilege to invite Meet Community Director, Kyle to share with us on the impacts, challenges and countermeasures on the social media platform.

Established in 2011, Meet is an innovation and startup community platform, providing entrepreneurs with media sharing and networking opportunities. From interviews to the entrepreneurial gatherings to the annual conference, Meet has provided various resources and opportunities to the the startup community.

1. Pertaining to the outbreak, what are the impacts on your company and the industry?

As our platform is online, the services are not much affected. However, our offline activities play a major role in the startup community. Some impacts include the fears of attending such events, increased preventive measures during activities and postponement in overseas exchanges and events.

2. What are the countermeasures to mitigate the impacts of this pandemic?

We will readjust the schedule of our activities. Other than the small entrepreneurial gatherings, the international exchanges will be expected to postpone to the second half of the year.

Keeping ourselves informed and updated of the public’s response and pandemic is critical.

Internally, everyone must be aware of what is going on and the preventive steps. Safeguarding one another’s health is our duty in the workplace.

Last but not least, we will take extra precautions on our events. We will disinfect the chairs, tables and floor. Participants are encouraged to wear masks. They are required to have their temperatures measured and sterilised their hands.  In addition, we will pay close attention to the transmission routes, especially when food is distributed during the event.

3. How long do you think it will take to resume as normal?

It is expected to resume as normal from Q3 onwards. However, in my opinion, we should try to maintain the operations as much as possible.

4. COVID-19 has caused economic disruptions. Can you provide some suggestions for other entrepreneurs to get through this difficult time?

Implement daily financial management. This is to make ends meet and reduce expenditure as much as possible.

In addition, establish cross-industry cooperation and make good use of the idle resources.

5. There are always opportunities in a crisis. What are the opportunities to be identified and seized in this case?

Online, remote, and virtual products or services will soon replace the offline, close-range and physical products or services.

As the pandemic develops, one can also find new opportunities in peripheral services.

6. Meet is a digital media and event-based platform. How can you assist the affected companies during this period?

Based on the mission and vision, we will create and match possible resources or business opportunities to the startups. With the pandemic going on, if the startup team requires any help within our means, we are more than happy to play the role of media promotion and opportunity matchmaking.

About BlackStorm Consulting

BlackStorm Consulting (http://blackstormco.asia) is a boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We mainly serve clients in four sectors: FinTech, Gaming, Technology, Media and Telecommunications (TMT), and manufacturing.

Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.