Economists agree that the crisis caused by the coronavirus pandemic has hit the world worse than the 2008 recession. Some even compare it to the Great Depression from the beginning of the previous century, so it is clear that all companies, big or small, are feeling the effects of the pandemic.
However, small businesses seem to suffer the most, as they lack extra funds big corporations have at their disposal. This does not mean that small business owners need to panic but rather that they need a detailed plan on how to go about in this time of crisis. We offer several steps you can take in order to protect your small business during the coronavirus outbreak.
Like we have stated in the introduction, what you really need is a detailed plan on how to survive these hard times. This includes the general will not to fire people and keep the business operational but it also incorporates exact steps and measures you are going to take. Think of matter as creating a crisis management business plan.
Hopefully, you’ve been lucky enough that COVID-19 didn’t hit your business directly but prepare for this eventuality nevertheless. Will the workers be given a sick leave or will you equip them with protective gear (mask, gloves, sanitizers, etc.) is among the many dilemmas you need to have worked out before the incident occurs.
Furthermore, you need to make sure there are channels of communication if the employees need to call you in the case of an emergency. Finally, the plan needs to have several timelines in case the crises list a week, a month or even if it extends until the end of 2020 (God forbid).
During the pandemic, it is even more important to share information with your employees on a daily basis. As the virus sweeps across states and townships, local and federal governments impose bans almost at a daily level so your staff needs to be informed of them swiftly.
For this reason, the employees should be posted every day through memos, e-mails, and even conference calls if necessary. By doing this, you are helping the staff feel more at ease because they know the owner and the management of the company are working hard to keep them safe at work.
Moreover, this communication should go both ways. If some segments of your business are still open, them, like it’s the case in the delivery industry, then workers should and must report to you daily. This will allow you to provide the necessary support to keep the business open, which is vital during the COVID-19 pandemic.
We live in an era when the Internet is finally living up to its expectations we all had during the 1990s. Video calls and online ordering platforms have made it possible to adhere to the doctors’ and governments’ pleas to stay at home.
However, this means that your business will be online more than ever so you should improve the marketing strategy accordingly. In order not to waste valuable resources in this aspect of doing business, hiring the services of an SEO reseller will help you boost leads without overspending.
As more and more countries are introducing quarantines and curfews on the population, you are less likely to attract clients through brick and mortar retailing. As businesses take their sales online, you should keep up to this trend so the competition doesn’t pass you and take over your position in the market.
Protecting our business during the outbreak can also have a literal form. Namely, cleaning the office space should see significant improvements in order to protect employees and shoppers alike. If you’ve hired a cleaning company, try to negotiate a new deal that includes more frequent cleaning sprees.
Furthermore, your employees should take an active role in the cleaning process but only after you provide them with suitable PPE. Other procedures include installing hand sanitizers in toilets, enough disinfectants for workers to clean their workspace, and a bar of soap in every restroom.
The use of disinfectants should be encouraged and even made mandatory that workers disinfect their desks, for example, every day. People who are not feeling well should be advised to stay at home and most definitely not come by the office to say hello.
Implementing these methods won’t only prevent the staff from becoming infected but it will have a strong psychological effect as well. Even if you have a detailed plan set in place for the coronavirus infiltrating your premises, you should do your best to prevent this worst-case scenario from occurring.
Federal and national governments around the globe are forced to impose strict social distancing measures but that the same time, they are aware of the damage these measures will do to the economy. The American president Donald Trump, for instance, had signed bipartisan legislation at the end of March aimed at helping businesses, workers, and their families.
There is hardly a government that hasn’t set up similar federal relief schemes, so make sure you look them up and apply. Benefits business owners get include lower taxes or their moratorium, low-interest disaster loans vouched by the government, incentives not to fire workers, etc.
These measures might seem as much on paper but they are backed by billions of dollars the federal government is pumping into the economy. These benefits promise to help big businesses stay afloat and more importantly, they are a lifeline for small businesses such as yours.
The money you get from the government can be used to mitigate payroll expenses, pay debtors, cover sick leaves, and set up novel ways of doing business, such as an online selling platform, etc. These are all vital parts of doing business and might be exactly what you need to protect your small business during the coronavirus outbreak.
As you are aware by now, there are several ways you can protect your small business during the COVID-19 pandemic. The truck to avoid liquidating your business is to start implementing these measures before it’s too late.
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