Small Businesses Gearing Up For COVID Waves
Published 9:43 am Tuesday, April 13, 2021
The worst of the COVID-19 pandemic may be over, but the virus is still at large. It is resurging with new strains and repeat waves, so everyone still has to focus on staying safe. It isn’t only about individuals, but businesses also need to be a step ahead of the virus. If you run a small business, a repeat lockdown may be hard to bear. It makes sense to have a plan in place to address the challenges that resurging waves can bring. A little planning and foresight can boost the chances of survival for your small business. Here are some steps you can follow to gear up for the crisis.
Prioritize employee safety
If you want your small business to get through the resurging waves of the pandemic, employee safety should be on top of your mind. An agile and flexible approach can help you prioritize the well-being of your team. It means that you should be ready to take your business back to the remote working model when another wave is around.
Early action is crucial to keep the employees safe while ensuring that business goes on as usual. If you have an e-commerce setup running, make sure that it is geared up for high demand when physical locations close down. Reassure people that you are concerned about their safety, and they will do their best for the business.
Ramp up your tech
Another survival strategy that small businesses cannot overlook at this point is staying on top of technology. You may already have the right tools in place to keep the operations up and running during sudden closures. But it makes sense to reassess and ramp them up to eliminate the risk of operational disruption. Improving technology goes beyond having the right tools and apps.
You must also invest in employee training to help them switch to a remote work model easily. It will also enable them to meet the changing demands of the situation. For example, if you run Mac devices, employees must know how to keep their devices secure as they work from home. They must also know how to get iphone contacts on mac so that they can be device-independent. Having the best tech tools and knowing how to use them will make a sudden remote transition easy for employees and your business.
Build financial stability
While technology keeps your operations in place, you also need to pay attention to your finances to keep them safe from repeat COVID waves. Focus on building financial stability for the business. You must have enough cash reserves that will help the company sustain at least for a few months. Looking for alternative streams of income and measures to cut expenses will help you strengthen the foundation.
Identify sources of quick funding if you may need it in the future. It is also vital to steer clear of debts and keep your credit in good shape because you may need to borrow in the future. Even as you fortify the business finances, go the extra mile to offer stability to your employees too.
Following these steps can go a long way in making your small business pandemic-proof. No matter how challenging the situation seems, stand strong, and you will get through.