Crisis

5 Steps to Help Your Business Emerge Stronger From the Health Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


The global health crisis has caused immense disruption to the global economy, and many companies around the world have been severely affected. Even so, some businesses have shown inspiring innovation in these challenging times.

Over the past few weeks, American automaker Ford innovated and produced 2.4 million protective face shields for medical personnel, assembling the raw materials, manufacturing capabilities and people over one weekend. British tech company Dyson pivoted to create a ventilator product in 10 days, while French fashion and luxury retailer Louis Vuitton announced recently that it will convert its perfume production lines to start making hand sanitizer.

How can business owners learn from the quick thinking of these companies and emerge stronger? Here are five suggestions.

1. Talk to your customers and listen to them.

Whether you are a restaurant owner or an

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About the decisions taken by European bank regulators and supervisors in the face of the coronavirus crisis

Bank regulators and supervisors have taken a number of important measures over the past two weeks in reaction to the coronavirus crisis. In our view, those measures make a lot of sense in the current fire-fighting context. We consider that the two priorities of bank regulators and supervisors should be 1) to ensure that credit is extended to enterprises during these extremely challenging times, and 2) to preserve financial stability.  This is precisely what they are doing: the measures taken have to be analysed together and, seen through that lens, they show a high level of coherence.

Among those measures, the most noteworthy are:

  • Excluding from non-performing loans credit extended by banks to support enterprises facing liquidity difficulties and benefiting from state guarantees.
    • Comment: this is the best way to resolve the impossibility that banks would have otherwise to support the economy without endangering
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5 Ways to Protect Your Business and Personal Credit Scores During a Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


Between uncertain cash flow and concern over how to meet financial obligations such as payroll and bills, it’s a stressful time to be a small-business owner. Many entrepreneurs are experiencing the same anxieties over unemployment, debt and financial sustainability. Your personal and business credit scores could take a hit if you have to miss payments due to a cash shortfall. 

Related: The Zero-Sum Mindset: How to Avoid Toxic Thinking in Moments of Crisis

Implement these strategies to help protect your credit score while we wait for the pandemic to pass:

1. Regularly review bank accounts for any suspicious activity.

Unfortunately, crises and the financial relief that often follows seem to bring out fraudsters and criminals. That’s certainly true in the current crisis with the CARES Act, which has already prompted its share of scams targeting your

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Germany’s finance official’s death linked to virus crisis

The state finance minister of Germany’s Hesse region, which includes Frankfurt, has been found dead. Authorities said he appears to have killed himself and the state’s governor suggested Sunday that he was in despair over the fallout from the coronavirus crisis.

The body of Thomas Schaefer, a 54-year-old member of Chancellor Angela Merkel’s Christian Democratic Union, was found Saturday on railway tracks at Hochheim, near Frankfurt. 

Police and prosecutors said that factors including questioning of witnesses and their own observations at the scene led them to conclude that Schaefer killed himself.

Germany Politics Thomas Schäfer

April 24, 2019 Thomas Schäfer (CDU), Minister of Finance of Hesse in Frankfurt, Germany. (AP)

AP/DPA

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State governor Volker Bouffier linked Schaefer’s death to the virus crisis on Sunday.

Bouffier said Schaefer was worried

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Death of German finance official linked to virus crisis

BERLIN (AP) — The state finance minister of Germany’s Hesse region, which includes Frankfurt, has been found dead. Authorities said he appears to have killed himself and the state’s governor suggested Sunday that he was in despair over the fallout from the coronavirus crisis.

The body of Thomas Schaefer, a 54-year-old member of Chancellor Angela Merkel’s Christian Democratic Union, was found Saturday on railway tracks at Hochheim, near Frankfurt.

Police and prosecutors said that factors including questioning of witnesses and their own observations at the scene led them to conclude that Schaefer killed himself.

State governor Volker Bouffier linked Schaefer’s death to the virus crisis on Sunday.

Bouffier said Schaefer was worried about “whether it would be possible to succeed in fulfilling the population’s huge expectations, particularly of financial help.”

“I have to assume that these worries overwhelmed him,” Bouffier said. “He apparently couldn’t find a way out. He was

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Personal Finance Advice For The Coronavirus Crisis : NPR

NPR’s Michel Martin speaks with Kimberly Palmer, personal finance expert at NerdWallet, about money management during the coronavirus pandemic.



MICHEL MARTIN, HOST:

We’re focusing this hour on answering practical questions about the coronavirus and all the changes to daily life it’s brought about. In a minute, we’ll hear about how to juggle dating and social distancing. But first, we’re going to turn our attention to personal finances.

It’s probably safe to assume that the steps being taken to control the coronavirus outbreak is affecting your finances. On the one hand, you might be saving on your commute. On the other, you might be spending more, stocking up on food and cleaning supplies or books and games and activity sets for the kids. And a lot of people are making less money or seeing income dry up completely because so many workplaces have shut down.

That got us wondering about what

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