The Skills Business Owners Need to Survive Wars and Crises
In light of ongoing wars and crises, economic activity has been declining and contracting by as much as 30%, according to World Bank reports. Supply chains are disrupted, while consumption slows dramatically as people fear interruptions to their income or salaries. At the same time, operational costs rise sharply, leading to higher prices and accumulating debts. As a result, nearly 40% of small businesses risk bankruptcy, according to the International Labour Organization.
In such circumstances, business owners must develop strategic skills that help them transform difficult conditions into opportunities for survival and growth. Preparing an emergency plan is also essential to remain ready for any sudden developments.
- Crisis Communication Skills
Communication is the first bridge to survival during crises. Business owners should strengthen their ability to negotiate with suppliers and customers to adjust payment terms, such as proposing installment plans for debts or extending payment deadlines.
Mastering negotiation under pressure can help maintain business relationships by as much as 70%, making it a critical factor in sustaining operations during difficult times.
- Cash Flow and Financial Management
Liquidity is the lifeblood of any business. Owners should develop the ability to forecast cash flows for the coming months using tools such as spreadsheets or accounting software.
It is also important to reduce non-essential expenses and explore alternative financing options when necessary. Training in financial management during crises can help businesses avoid the financial collapse that threatens many companies in unstable environments.
- Adaptation and Rapid Innovation
Wars and crises often bring sudden market changes. Businesses must therefore build the ability to adapt quickly and redirect operations toward essential needs.
For example, Jordan’s Fine company shifted part of its production lines to manufacturing health masks at the beginning of the COVID-19 crisis, significantly increasing its output. Businesses that adapt their products and services to crisis-driven demand can continue operating up to 25% faster than their competitors.
- Building Networks and Partnerships
Developing a strong network of partners is essential during times of uncertainty. Business owners should connect with reliable partners through professional platforms and participate in conferences, workshops, or industry events—either in person or virtually.
Such networks help business leaders stay informed about market developments and may open opportunities to expand into safer markets or collaborate with partners outside conflict-affected regions.
- Managing Team Psychological Stress
Fear and uncertainty can significantly reduce productivity. Business owners should provide psychological and motivational support to their teams through encouragement, flexible work arrangements, and open communication.
Strengthening emotional resilience, including through mindfulness practices or well-being tools, can help employees remain focused. Studies show that teams working in a stable psychological environment can be up to 50% more productive. Ultimately, leadership plays a crucial role in inspiring confidence and stability during the most challenging times.