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    Due To The Crisis, Our Economy Faced A Downfall That Resulted To Recession. This Recession

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    Cheveem Grace Emnace

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    Due To The Crisis, Our Economy Faced A Downfall That Resulted To Recession. This Recession

    Uploaded by

    Cheveem Grace Emnace
    7 views1 page

    Original Title

    Part-4

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    7 views1 page

    Due To The Crisis, Our Economy Faced A Downfall That Resulted To Recession. This Recession

    Uploaded by

    Cheveem Grace Emnace

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    IV.

    Conclusion

    Due to the crisis, our economy faced a downfall that resulted to recession. This recession
    impacts all kinds of businesses, large and small, due to tightening credit conditions, slower
    demand, and general fear and uncertainty. As we all know, being a business owner is not easy.
    Starting a business is not a smooth ride. You will always encounter a lot of problems, obstacle,
    and complications along the way. However, while we conduct the interview, we have realized
    that this crisis also leave a positive impact. Due to this crisis, the business owners became
    smarter, and wise in making strategies, and solutions to problems.

    As stated above, one of the challenges encountered by GZT Beauty Shop is the
    pandemic. According to research, beauty salons were among the first of the businesses shuttered
    by government restrictions due to the close personal contact between customers and employees
    and the discretionary nature of many of their services. This kind of problem is unforeseeable and
    most of the business owners were not prepared to handle this kind of problem however,
    Geraldine Clavel-Batayen, the owner managed to find alternative ways to gain income in this
    difficult time. Since beauty salons were forced to close down, she managed to sell foods, and
    other products to sustain their needs.

    After the interview, the group concluded that in times like this, business owners should
    be resilient and more innovative when it comes to their business. We should accept the fact that
    this crisis has affected all of us and we should know how to adapt and just go with the flow.
    Giving up should not be an option. Challenges are inevitable when it comes to businesses. As an
    entrepreneur, one should just think of the brighter side and turn those challenges into strength in
    order to survive. We should put in mind that not all things come into our favor and we have a
    choice whether to let these unfortunate things break us or make us even stronger.

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