According to the Ministry of Economy and Finance, in its updated report on the macroeconomic projections of the 2022-2025 multiannual macroeconomic framework, GDP will continue to grow by 3.6% during this year, which is associated with a higher great opening of the most affected economic activities. by COVID-19.
The MSME segment, which represents 99.5% of all formal enterprises in the Peruvian economy, is undoubtedly a driver of this reactivation.
According to CAF figures, more than 60% of mypes have been affected by the restrictions of the pandemic. The reopening of post-pandemic businesses presents new challenges, and it is essential for you as an entrepreneur to take measures on your business that will allow you to increase your sales, your profits and to remain sustainable over time.
Therefore, Scotiabank shares five tips to consider in taking your business to the next level:
1. Know your customer
The pandemic has revolutionized the tastes and channels people go to, so it’s always good to be informed about market trends. Remember that it is essential to be in constant contact with your customers to receive feedback and anticipate their needs.
2. Restructure your finances
Restructuring your finances will help you control surpluses that can lead to improvements in the profitability of your business. Proper revenue forecasting based on expenses provides stability and will allow you to make better financial decisions about your business.
3. Check payment options for your bonds
Check with your industry to find out what financing options you can access to stabilize your business. Among them you have bank loans or factoring that solves waiting times for the payment of invoices to companies that have provided a service.
4. Take advantage of digital platforms
Try to have your accounts active on the social networks and digital platforms used by your target audience. It is essential that they are all aligned, that is to say that they have the same logo, well-marked opening hours, auto-generated responses and an advertising guideline that always contains the same messages.
5. Use digital payment platforms
The payment options you offer your customers should match their needs. For small payments, tools like Plin will allow you to complete the transaction in seconds and with all the security of the box. For larger amounts, try to have the corresponding insurance and payment gateways that allow you to track revenue properly.
Finally, it is important to highlight that MSMEs are important actors in the productive and economic development of Peru, since they generate jobs for more than 7 million people., or 45% of the PEA, which represents 21% of the national GDP, according to Confiep.
Therefore, it is important to highlight alternatives that allow you to generate continuity in your production. Remember that increasing your economic capital allows you to obtain greater benefits in the profitability of your business and opens the doors to bank loans that will boost your business.