Small businesses are facing the brunt of the COVID-19 pandemic’s aftereffects. A few need to furlough employees, while others need to wait on business loans to help bail them out. No one knows when the outbreak will end, and when the shockwaves will abate. Nevertheless, here are four tips for small businesses after COVID-19 ends and is no longer a danger to everyone. We prioritize small business ideas and how to become innovative, to go with practical concerns and business disputes.
Maintain Health As A Priority
Health is one commodity that many people cannot afford to lose. Even after the pandemic, people need to reassess how they socialize and interact with others. This includes making sure that those who have different work needs don’t endanger themselves.
From a pragmatic standpoint, you want employees to stay healthy. That way they will clock in and out while maintaining productivity. In addition, you want to prove to future job candidates that you have their best interests at heart. A candidate will likely ask how you handled the pandemic, and you want to answer honestly that you did the best you could.
Remind employees to take care of their health, from drinking water to sleeping well. If you have health insurance with checkups, see if you can take advantage of flu shot programs or annual physicals. This shows that you take care of your employees even in the most challenging times and that you are invested in your future.
Create New Normalities With Remote Work Or In-Person
Many employees may feel overwhelmed by the changes in their workplace. They have to stay at home for their safety, logging in via Slack or Zoom. Such a drastic change can affect work productivity and morale, especially if offices have to close permanently.
Even after the pandemic ends, many people will feel drifting. They may have adjusted to working from home but are concerned about how society has changed. Some may worry about their job security. You have to reassure them and serve as their rock, as the business owner.
If employees are on furlough, celebrate their return. People want to be appreciated. If you are all working remotely, most regular meetings on Zoom, with daily goals and priorities in hand. This maintains focus. If possible, see if there are ways to meet in person for regular workdays, with safety precautions. A happy hour may be impractical with how bars and restaurants are hotspots for COVID-19, but you can build morale with other activities.
Remain Vocal About Vanishing Lines Of Credit
We’ve talked about the facts behind disaster loans. These were the initial facts that we knew, about the criteria and expected volume of applicants. We did not expect, however, a rigged system regarding the small business stimulus packages.
Let’s admit this: the short-term business loans that the government is providing seemed to have gone to larger businesses and even corporations looking for loopholes. Banks were accused of favoring firms that needed larger loans and drastically increased their revenues. Meanwhile, yoga studios and other small business owners were left in the lurch.
How did these businesses find a solution? They spoke up, telling the media about waiting for hours only for their applications to vanish in glitches. Several corporations were shamed into returning the loans, and the Small Business Administration decided to make more credit available. You need to prepare similarly for when the pandemic ends.
Maintain contacts with the media, including journalists and news commentators. Have a budget for hiring legal consultants. Protect your lines of credit, and speak up about double standards or glitches. It may seem counterintuitive, but you are more likely to get a response if you talk about a bank favoring another company over yours.
Protect Your Business Model With Trembly Law
The Trembly Law Firm wants to help you survive during these uncertain times. With the COVID-19 outbreak, protecting your business is more important than ever. This includes getting legal advice regarding the coronavirus pandemic. Reach out to us today to get started. Whether you are working full-time or need assistance with protecting your cash flow, Trembly Law is ready to help you get started with the new normal.
