It is necessary to have a backup plan
The “normal” thing for most people is to live from day to day, but we as entrepreneurs, as owners of small and medium-sized companies, have the duty to plan; and to do so is to be aware that sometimes we will experience complicated periods like this one. Therefore, in order to guarantee a long life for our enterprise, it is necessary to have a contingency fund to face the “lean periods.”
Make savings in hard currency
Although for most of us what has happened to the Cuban peso is a unique process, the truth is that this phenomenon has happened many times around the world. In an economy as fragile as ours, with monetary policies that have not allowed the free convertibility of our currency, saving in the local currency is tantamount to disregarding all the effort we have made to earn our money.
Don’t overlook domestic clients
Most of the trade in Cuba arises through sectors directly or indirectly related to tourism. This dependence is almost total and it makes sense; as they say in popular slang “that’s where the money is,” and it is partly true. But it is also true that many of the businesses that have been able to continue operating successfully today are those that have also been able to address the Cuban public, finding solutions where there are others who only see problems.
