Preventive measures taken to combat the COVID-19 pandemic have opened up a new front: the fight for economic survival and job preservation. In the absence of a vaccine or the right medical treatment, the social distancing imperative is our most powerful tool for slowing down and stopping the contagion. At the same time, each new day of these measures increases the risk of transforming the current state of isolation into a state of complete social and economic paralysis.
Nobody is feeling the weight of these developments more than owners and employees of the so-called “small businesses”. In regular circumstances, these companies are usually only able to cover their ongoing expenditures and cannot accumulate enough resources to put aside or invest in expanding the business. In extraordinary conditions, in which workers, suppliers and buyers have limited freedom of movement and work under strain, that means facing an immediate or imminent shutdown.
Two seemingly unrelated concepts are key to understanding what needs to be done to prevent such an outcome: solidarity and digitization. The quarantine measures give results exactly because we’re all abiding by them and are thinking beyond our own individual interests. If we want to contribute to saving the economy, we need the same, joint approach, with our common interest as a priority. We also need to fully utilize the potential of digital technologies to overcome the barriers of time and location and help keep the economic activity alive.
From very early on, Mistral has been aware of both these risks and of our responsibility in tackling them. Since the beginning of this month, we’ve been developing a free of charge web application called Podrži Omiljene, which will enable customers to pay for goods and services in small-sized companies now, and claim their purchases later on (the pay now – redeem later principle). By using this application, companies will gain access to revenue even though they are unable to immediately provide goods and services, which will surely help them weather through this crisis more easily. The application will soon be available for use.
Mistral’s core principles, “Culture of Trust” and “People First” demand of us to act responsibly and view ourselves as a part of a wider, interdependent system. Investing the know-how of our top technology experts in supporting colleagues in other industries is our way of contributing to the development of a community of trust where people truly do come first. The main lesson we are being taught by the pandemic has fully validated this approach. With or without a crisis, there is only one way for us to succeed: together.