Future Generali

How can small and medium sized business stay afloat during a crisis?

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Rakesh Wadhwa:

Now given the pandemic and what we are seeing of it appears that big will get bigger because they have access to capital the more resilient balance sheets on and so forth.

Jasprit Bindra:

Companies which are a hundred percent physical on the other hand whose business models are a hundred percent physical have actually just stoped work. They have had like a hundred percent drop in sales and nothing has helped them. You take event management, hotels, or airports or things like that. So, many companies will need to know reimagine their business models. Big or small companies, it doesn't matter. You'd have to imagine that business model to see what can they do which makes it more and more digital.

Actually there are certain small companies which we gain because of this. The large massive hotels, Las Vegas kind of hotels, the large convention will have a problem. When I want to go for a holiday now after things open out I'm not going to a large hotel.

I want to see and select a small home state where only my family can live probably or only a couple of families so that I can maintain distance and still have a holiday. And so the small guys are actually going to win in this situation. Now having said, yes there is a possibility, that the rich become richer. and the already big companies becoming even bigger and bigger. The thing is that already big companies are the biggest companies in the world, they are those big massive tech companies and they have only gained in this pandemic. And so they will probably become even more powerful.

And that is a possibility, it's a possibility which I do not want. But it's a possibility. So while there'll be many small companies there will be many big companies who will gain and many companies big or small which will actually die.

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