How COVID-19 is affecting small businesses
How long will it last? When can we reopen? When will business pick up? When will things get back to normal? These are questions we’re all asking nowadays. There’s no doubt the new coronavirus or COVID-19 is affecting small businesses. And we’re all ready to see it end.
In the meantime, what can you as a tribal business owner do to minimize the damage caused by the virus, your lack of traffic and possibly your supply chain interruption? We’ve gathered these suggestions from multiple sources for you.
- Stay informed, but make sure you’re getting valid information. Trust the CDC and any federal, state or county bulletins, but take all other information you see on TV or online with a grain of salt, so to speak.
- If you’re open for business, practice social distancing and provide your staff with masks. Encourage them to wash hands thoroughly and often.
- Clean your premises thoroughly every evening. Encourage employees to keep their work areas sanitized as well.
- Reach out to your vendors to see what they’re doing to prevent the loss of supplies. Consider ordering supplies ahead of your typical order time, if you find they’re running low on items.
- Evaluate your current inventory and consider ways to work with what you have, if items are no longer available.
- Consider cost-saving measures that you can implement right away.
- Over-communicate. Your employees need reassurance. Your customers want updates on your reduced (or increased!) hours, how you’re ensuring their safety with enhanced cleaning methods or other changes.
Here’s a quick look at the effect of the coronavirus on small businesses, most likely including yours, and some tips you can use to weather this pandemic.
The infographic is courtesy of Fundera.com, a financial resource for small businesses.