As the number of SMEs closing down was revealed in 2021. The figure was much higher than in the previous years. Many businesses suffered from dilemmas. Hence, we would like to present 5 ways to assist businesses' survival even in times of economic crisis.

1. Cost reduction

A small amount of money when gathered together can become a huge amount of funds. Thus, we are not supposed to ignore the small expenses as well such as paper and ink which can cultivate the norms of the paperless culture in the organization. Moreover, it can be a beneficial method for eco-friendly. In terms of raw material costs that cannot be stopped using, due to the price rising of the product occurred. If we cannot cut its costs then just consider substitute materials to help reduce costs and have employees work from home (WFH).  It is one of the components to cut off the costs of both company's expenditures and the travel expenses of the employees themselves. Permitting the employees to work in the office during the Covid pandemic, the employers have to bear the loss of expenses such as cleaning fees and disinfection equipment fees, also the ATK test kit is only a single used thing. Solving problems that benefit both sides such as working from home is the best solution for this era.

2. Systematic

WFH has a lot of advantages. however, the control of employees' work is not as reasonable as having employees come to work at the office. Using a wizard-like Anywork Platform Online will help to manage the business and allow the employees to work together wherever they are. Moreover, entrepreneurs can monitor every movement of people in the organization. In terms of service fees, it is cheaper than hiring 1 employee to take care of the system. For example, a service fee of 2,490 baht per month can allow up to 20 employees to access the system.

Compared to hiring an IT department to build and maintain the system ourselves. At least 1 additional 0 is required per person per month and one person may not be enough. Therefore, using a ready-made system can save a lot of time and cost for your organization.

Working with the system as a medium is better than using a chat application like in-line group chat because of work not chatting or something to be used in common with personal matters should be separated. And most importantly, it should be able to be checked. Anywork may respond to the work system. Work anywhere, anytime, economical, easy to use, and compatible with any device. And it's like an SME life jacket so it can float above the water even during storms in the ocean.

3. Eliminate fixed costs

When employees work from home then the big offices are no longer necessary. When the area size is reduced, thus the rent is also reduced. Fixed cost reduction is very important. Fixed expenses, regardless of income or not, must be paid. It is like excess fat that has to be eliminated and extracted to only the protein content. Or the necessary part It's time to list your fixed costs and customize them to fit your business.

4. risk-reward ratio

Assessing the risk of return and the feasibility of loss is something that should be evaluated. When costs go up, profits go down. Taking risks in some projects may not be worth it. When the crisis should choose what to accept for certain jobs. and cut off some jobs to reduce the chance of losing as much as possible. But if any time assessed that, the profit potential is huge. The chance of loss is low. Do it to the best of your ability, retained earnings, plus the luxuries mentioned earlier. It will be something that will support your business through difficult times.

5. Tax management

Taxes are an unavoidable cost. Pre-assessment, a careful monthly, yearly plan may help you pay reasonable taxes. Having a system to help manage the work can also reduce the tax of the organization. It’s also another interesting option.