Small businesses
Rethink
Build powerful small businesses
Hi Friends, like millions of others, I had contracted COVID, and recovered. I was lucky that things did not become serious. However, millions were not as lucky. Those needing basic medical facilities such as beds, oxygen, medicines, are still struggling.
Arundhati Roy wrote in ‘We are witnessing a crime against humanity’ : the Serum Institute of India (SII) and Bharat Biotech. Both are being allowed to roll out two of the most expensive vaccines in the world, to the poorest people in the world. This week they announced that they will sell to private hospitals at a slightly elevated price, and to state governments at a somewhat lower price. Back-of-the-envelope calculations show the vaccine companies are likely to make obscene profits.
As 2nd wave subsided, we had two choices. One, we carry on with building and growing our small businesses. Some of us will be heartbroken because of the suffering in the family or how our friends may have suffered. Two, we introspect and find out what landed us here. How come big businesses have all the power in the country. They can decide about vaccines, hospitals, health, and life saving initiatives.
Health reporter Vidya Krishan wrote in her essay ‘India Is What Happens When Rich People Do Nothing’: India’s economic liberalization in the ’90s brought with it a rapid expansion of the private health-care industry, a shift that ultimately created a system of medical apartheid: World-class private hospitals catered to wealthy Indians and medical tourists from abroad; state-run facilities were for the poor. Those with money were able to purchase the best available care (or, in the case of the absolute richest, flee to safety in private jets), while elsewhere the country’s health-care infrastructure was held together with duct tape.
Germany’s mittlestands can teach us how to not cede the space to big businesses or loss making big startups. Mittlestands are small businesses of Germany. They are privately owned and family run. 99% of Germany’s GDP comes from these companies. They produce world class products. They find a niche, go deeper, and sell internationally. Also, they are market leaders in their niche and specific segments. They also adapted to Covid-19 fast, unlike our businesses. Our small businesses should also aim to become such economic powerhouses. When we recover, we should demand policies, finance, laws, infrastructure, incentives and support to build small companies that are small, world class, timeless, and second to none.
Strength & Hope 👊🏾
Worth your time:
— How to build a company that lasts forever Link
— Secrets of Germany success; podcast Link
