The impact of COVID19 on the economy is widespread. Many small businesses across the country are experiencing significant challenges right now, including uncertainties in cash flow, supply, and logistics.
We do not know how this pandemic will unfold or what lasting impact it will have on businesses in the long term. The only way to reduce the adverse effects of COVID19 is to be prepared. Now.
We must review all aspects of our businesses to anticipate upcoming challenges and devise strategies to navigate through these obstacles.
To help you prepare and plan your strategies, download the COVID19 Battle Plan below.
Small businesses need to focus on the following:
- The immediate management of COVID19 within your workplace, such as implementing social distancing between staff. Health and safety is the top priority.
- Keep staff updated with the changes in your business.
- Reviewing and adapting your business operations to ensure your business can navigate through the crisis successfully.
- Reassessing your business finances to ensure sufficient cash flow.
- Keep up to date with government restrictions and new regulations that affect your business.
- Consider how your business may need to restructure its operations once the pandemic is over.
- Managing your brand and maintaining communications with your customers and suppliers.
It is a difficult time for many small business owners as their businesses face uncertain futures. But remember there are always opportunities within a crisis. Start planning for the short term and long term future to ensure you can grab opportunities when this pandemic passes.
Business Growth Hub
We have workshop / webinar events prepared for this year. Please see the Business Growth Hub to join the workshop. Contact Justin Davies and book a coffee or chat to find out more about how Business Growth Hub can really help you. Upcoming event dates are posted here.
Book Your Call
Please book a 30-minute call with Justin if you need help. We want to see as many businesses as possible survive and thrive during this time.