How to Beat Inflation & Keep Your Business Growing
Did you know in January 2021 the inflation rate in Kenya increased by 5.69 percent, the highest level since May 2020?
Our research shows if inflation rises above 3% or 4%, businesses will see a rise in costs which will cause market uncertainty. Inflation can also cause the following problems;
• falling profitability, and
• a decline in market competitiveness.
If costs continue to rise due to inflation, your business may not be able to pass them onto customers due to price sensitivity. This can disrupt business planning and lead to lower investment. Also, rising inflation is associated with higher interest rates – this reduces economic growth and can lead to a recession.
How does all this affect the consumer?
For the consumer, feelings of uncertainty cause for overspending and money hoarding in a time of inflation. Consumers may hold back on spending until they enter a safer economic climate. With consumers holding back, businesses can, unfortunately, feel the brunt of it with a potential reduction of sales. This effect of inflation can be detrimental to business sales and their stability.
I would like to invite you to attend our event “Business Talks” brought to you by CrystalPerk Mombasa Magazine at CrystalPerk office located off Nkrumah road at Bahman building opposite Haki Africa offices, on Thursday 15th April 2021 at 4pm.
Our guest speaker is Mr. Mahesh Sanghrajka the Founder and Chairman of Auto Selection Group of Companies. He will be sharing his wealth of knowledge and experience garnered over a period of 50 years from various industries such as petroleum, furniture manufacturing, transport, cars importation and trading to real estate development – just to mention a few.
CrystalPerk Mombasa Magazine is the leading business and leadership magazine at the coast. We produce both print and digital magazines that provide our readers with exclusive interviews from executives of industry across Africa. Our multichannel approach allows us to offer clients more advertising options as well us the opportunity to create messaging for them that leads to increased sales.
Come learn about
1. Practical Financial education on savings & securing finance through gearing up investments,
2. Practical strategies on how to beat inflation through growth of asset value,
3. Practical strategies on how to grow a business through group investments.
Payment is via Mpesa for both online and offline access. Due to Covid-19 Government Health Protocals (All health protocals will be observed), the event is limited to 20 people – booking is via this link