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COVID-19 Survival Guide for Nigerian MSMEs

Dear ,

As a business owner in this period of a COVID-19 outbreak, you are probably having to face the difficult task of reviewing your strategic plans and operations and we understand because we are doing the same too. So we have developed a guideline of 10 steps you can consider as you navigate what is likely to potentially be a financially and economically difficult period.

Here's a preview of the first 3 steps:

1. Health and Safety First Above All Else: As the popular saying goes, "when there is life, there is hope". You cannot develop a business repositioning strategy or revision your business if you, your loved ones and team members become at risk of falling ill.

1. Plan for the Worst, Hope for the Best: The reality is that the economy and our businesses are likely to be hit very hard with potential effects in the mid to long term.

1. Assess Your Liquidity and Prepare a Cashflow Forecast: 

• What is your level of cash at the moment? 

• At what point would you require a major inflow of cash to keep your business afloat? 

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Do have a great week!Sincerely,Oluchi Johnson-AchibiriCommunity Manager, msmehub.orgFATE Foundation1st Floor, Water Corporation BuildingIjora, Lagos

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