Find Opportunities In Crisis

Business Daily Africa:

While there is so much discussion on the global crisis, there are those individuals and companies that are spotting opportunities.

These opportunities are not only in the stock market where an upturn in the economy could see the listed firms regaining their high prices, but also in others such as franchising.

In franchising, individuals who have lost jobs are moving into it using the tried and tested brands to start themselves off in business rather than starting from scratch.

In the US, anecdotal evidence suggested that franchising is rising due to the crisis.

But in Kenya, there is no indication that such a thing is happening.

To cut costs, some businesses such as media buyers and publicity experts are advertising using digital screens as a way to raise their revenues in a market where few are willing to spend.

There is need for Kenyan firms not only to cut costs but also to look at new opportunities.