What is the economic status?
Every entrepreneur knows that his business operates in a certain economy of a nation or economies of some region. Since the status of the economies vary from time to time, its the responsibility of the entrepreneur to make decisions that are favorable to the business, whatever the economic status.
While many entrepreneurs choose to cry foul during depreciation or when the currency is devalued, the same poses an advantage on export business. Entrepreneurs should take advantage of the depreciation and sell as much of the country’s products overseas (exports) because the goods are relatively cheaper to their overseas customers. Once the economy improves and the currency gains strength, the entrepreneur should be on the look out for opportunities in imports.
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