Don Advises Entrepreneurs On Recession

An Economic  Analyst, Dr Mark Amachree,  of the Ignatus Ajuru University of Education, Rumuolemini, has advised  the business community on ways of staying  afloat in the current  economic recession  in the country.
Amachree,  in a chat with The Tide, Friday  told business  owners  that to remain in business in the face of the present economic downturn in the country, they need to come up with affordable products to retain  their clientele.
The economist stated that companies  must not look to make excessive  profit, but should invest more and be cost-conscious so as to have higher turnover.
According to him, “it was important to sustain loyalty and the customer must be satisfied  with your  product both in its affordability and availability”.
He said, “in this  era of recession, consumers are constantly  looking for alternatives and so if a particular product is too expensive, they will surely seek cheaper and available alternatives.
“A lot of people  are going back to the basics, only going for what  is absolutely  necessary and  they  are also becoming innovative. So, to keep your business afloat,  you must be innovative as well”.
Amachree, used the  opportunity to enjoin the government to open channels of investments while advocating a friendly business environment.

Tonye Nria-Dappa