How Small Businesses Can come Out of the Pandemic Stronger
It’s hard to remember a tougher start to a new year. A couple of months in and the world ground to a halt with the invasion of Covid-19. It feels a bit surreal but, fortunately, each day brings better news. Even so, small businesses have faced their toughest challenge yet. From social distancing to lockdown, the cash flow to small businesses may have taken a sizeable hit. To help, we’ve rounded up some must-read tips for small businesses to beat the pandemic.
It’s easy to feel like all hope is lost when your client base is sheltering inside their homes. However, now is the time to be creative, go through your accounts, do some filing, update the website, or schedule social posts. Take action and prepare for the future – even if we are unsure what this future may be.
Tighten your belts
As well as reviewing your accounts and sales figures, you need to employ some cost-cutting tactics to help you through this period. Look at areas of your business that can be put on hold, reduced or canceled completely.
Make sure you stay up-to-date with the latest news so that you can adjust your communications strategy accordingly. What might have felt like a good message yesterday may not be the right thing today. Remember that while it’s important to stay on top of updates, you don’t want to overwhelm yourself in negative news. Take frequent breaks from hearing about the virus.
Small businesses should consider these approaches and more in order to come out of the pandemic stronger. For more guidance on growing your own business, contact the Economic Development Collaborative. Conveniently located in Camarillo, California, we’re here to help and have a free resource guide on how your business can handle the COVID-19 pandemic.