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Market Quake Economic Plans after Natural Disaster, Can many planning years disappear in a second?
Market Quake Economic Plans after Natural Disaster, Can many planning years disappear in a second?

Market Quake Economic Plans after Natural Disaster, Can many planning years disappear in a second?

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A Really Dream Story:

In the Duhok region of Kurdistan, two young youths had a dream to start their own business, after many years of hard work, They finally achieved that dream; Building an online application Fast aqar, a business that specialized in showing real estates. They rented a place to work in and got four employees,Despite the new step they took in the local market and making awareness for local people, Suddenly without any expectations a Strong earthquake hit the neighborhood country (Turkey).


Those two youths were proud of the unique designs that was able to create a modern way for people to observe the Lands, Apartments, and Houses for sale, buy, and rent as well. They built up a loyal customer base, both in Duhok, Kurdistan, and beyond. However, everything changed when this powerful earthquake struck the beside region.


The consequences reflected hard on our local community remarkably; Watching the view of a man catching his dead daughter under a crowded building affected people living in Duhok as a result they moved away from apartments and that led to a big freeze in the real estate sector. This business had a periodic stop; This affected employees' salaries, rent, and developing the app monthly, and only this example is from one side of the diverse local market.


As the hours turned into months, This team became desperate. They had invested so much time,Efforts, And cash into this business, and now it seemed like the next step was mysterious, But eventually they began to find some ways to find the solution, They started working and grow up even more than before.


With time, This hard work paid off. They were able to attract a loyal customer base, This business began to grow again. Though the experience had been, they knew that the setbacks were a natural part of any business, and that success was ultimately about perseverance and determination. With those lessons in mind, They learned that everyone should keep a plan B in case of any problems and natural disasters of all kinds occur in the Economy and market .





Continuous Life series

Life is a series; Traveling,food, lifestyle, market thus everything is connected together, if one circle of a series is damaged it will affect other , Social media plays an important rule in playing with emotions , nowadays people live the experience by watching the news and reels on Instagram and other social networks at each second! If you can imagine the stress you will definitely understand these people's reactions to disasters. There are somethings have bigger consequences than others, For example; The earthquake will not affect the food goods market because eating will not stop but it will affect more in Real estate, Travel, Car markets…etc .


Also, it is a fast era of the world we live in today and after a month life will return back to it’s original harmony, Because agencies as traveling depend on the summer season and vacations as (AntalyaMersin ) resorts and they are near the spot of earthquake, But because people from many European countries visit there by time this will open doors to our people also to visit be a they will see that, Last year resorts there just 30% remain, And from 30-50% the price of buildings get increased for a contract. Now not everyone can fly by a plane because it is more expensive and some people will visit because they have some special requirements as sickness, Business, Shipment… etc.


For the continuous life series, we have to find solutions every single time after a disaster for any occasions in life not just natural disasters.




Real Disasters Statistics

The UN Office most of the 3.3 million disaster-related deaths over the last 40 years occurred in poor countries. For instance, the magnitude 7.0 earthquake in Haiti in 2010 resulted in an estimated 140,000 deaths and ruinous economic losses.


According to waar tv ; 6 years a Gigantic fire kindled Duhok’s chalè market (a big square market containing all kind of materials of clothes, fabrics, food products, Dishes, and many stuff) , Two buildings that has more than 300 Markets; As affected two people died and the fire left many others injured.


At 18 March Duhok and zaxo faced a strong weather warning about raining, the result was up to 3-7 rain horizontally increasing range in earth ,the effect were so much some of theme were ; more than hundreds families stayed out without house because everything was under rain drops ! Many cars and fridges and home stuffs were going with a sea waves on road that the rain made it , On a Tv raport due to rudaw More than 70 farmers lose their annually harvest in zaxo side near xabir river and local people also lose their Shops with products in it .
Another real estate agency had a similar problem for that the same apartment in a famous tower in Duhok that used to rent in 350$ before earthquake now it isn’t even be rented in 300$s.
The above consequences were the result of natural disasters in all market sectors, not just earthquakes showing that everything can be changed in a second which lead to looking at a plan for saving your business.








Earthquake consequences

Duhok Market relies on imports from neighboring countries for goods and services, the earthquake has caused significant damage to buildings, roads, and ports in Turkey, which may result in an increase in prices for imported products and struggles in shipments from Turkey, the earthquake has also caused a decline in consumer confidence and spending, which may further impact the Duhok market's recovery. However, the impact depends on many factors, including the severity of the damage, our response to the crisis, and the resilience of the local economy because in the end the neighborhood countries also affect the local economy as shipping and transportation services and many more. There is something called liquidity or the action of money in market; means that each thing is connected to the other,By means if the earthquakes stopped for example the real estate market that would affect the employees work in that field,If you take one person as example, If his work starts to a shrink by the neighborhood countries natural disaster,this employee salary will decrease; He can’t pay the rent for his house, Or buy a car, Or went to an expensive travel, And scale this on all life sectors, You will discover that all life sectors are connected in a way or another and they affect each other, If anything happened in the world the consequences first it appears on Local market and social media mirrors that, Now you can remember even more examples you saw in community by earthquake.
Practical Solutions



This will lead us to have some instructions as a result of avoiding natural disasters, While it is not possible to fully protect an economy from earthquakes, There are practical steps that businesses and individuals can take to minimize the economic impact of earthquakes, Some practical solutions will be:


- Develop an emergency plan: Create a comprehensive plan that outlines how you will respond to an earthquake, including procedures for evacuating your premises, contacting employees and customers, and assessing damage.
- Diversify supply chains: Relying on a single supplier for goods and services can be risky in the event of an earthquake or other natural disaster. Consider diversifying your supply chain by working with multiple suppliers and maintaining relationships with alternative providers.
- Invest in earthquake-resistant infrastructure: Buildings and other structures that are designed to withstand earthquakes are less likely to sustain damage during seismic activity. If you own property in the Duhok region, consider investing in upgrades to make it more earthquake-resistant
- Have cash reserves: In the aftermath of an earthquake, it may be difficult to access banking services or conduct transactions electronically. Having cash reserves on hand can help you continue to operate your business or meet your personal needs during a period of disruption.
- Diversify income sources: If you have lost your job or experienced a reduction in income, consider exploring new sources of income. This could include starting a side business, freelancing, or finding a remote job.
- Embrace technology: Disasters has accelerated the shift to digitalization and remote work, explore new technologies that can help you streamline your business operations, reach the customers, and improve your online presence.
- Create a Budget: it is essential to have a clear under of your income and expenses, Create a budget that outlines your income to sources, Fixed and variable expenses, and saving goals, This will create a safe distance between you and any problem not just earthquakes.
- Save your money: Nowadays digital savings might be much better than usual saving way of money, for example you can open a FIB account to get a safe place for your family and work savings .


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