Simple Steps Small Businesses Need to Take to Survive the Coronavirus Crisis
It’s been nearly a month since the entire nation began to stay at home in hopes of slowing down the Coronavirus from spreading. It was a month ago that many businesses began furloughing employees, closing their stores and even restructuring how they promote their businesses. It has not been an easy task by any means but small businesses are taking action and have adapted to new ways of doing business to keep their company alive and thriving
Take Care of Yourself Before Your Business
Yes, you! We know it’s hard but it’s important to not stress. Easier said than done, right? We know it’s hard because the whole world is stressed. It’s critical to take care of yourself first. If you’re not at your best then your company can’t be at it’s best. When we don’t get enough sleep, eat well or stay active and healthy, it can be hard to make difficult decisions because we are not in the best headspace. It’s okay to step back, reassess and prepare for what is to come next.
Tap Into Financial Resources
Small businesses are more vulnerable compared to larger corporations. According to the federal government’s Small Business Administration, only about half of small businesses last longer than five years. Especially in times like these with costs like rent, payroll, and utilities there is very little cash flow available. It’s okay to ask for help, really. Our government has initiatives and packages to help small businesses succeed during the pandemic. Also, be transparent with your financial lender or banker. Many are willing to defer payments and work with small business owners to help keep their business afloat.
Adapt, Grow and Give Back
Business models have changed and it’s important to adapt to those changes to better serve your customers and business partners. Brands and companies are now shifting how they promote products or services. Roll with the punches because you never know, the new method just may be better than before. If your business has the means we definitely encourage you to give back to your local community any way you can. Businesses are donating goods and services, food, their time and even making products that are needed like personal protective equipment (PPE), ventilators, COVID-19 test kits, and more. It’s a wonderful sight to see America coming together. Giving back can also help you feel good which is great for your health, which is great for your business!
At Image Cube, we are continuously working to better serve our business partners as best as we can. Connect with our team of professionals to get started with our services in printing, banners and signs, direct mail, fulfillment, and more. We are all in this together!