The COVID-19 outbreak is inflicting a variety of uncertainty and challenge for anybody worldwide. As a small and medium-sized enterprise owner, you must be dealing with related challenges in the shape of assist and protect your employees on this disaster, along with maintaining cash flow.
According to a new survey - 27% of businesses expect that coronavirus will have a moderate to high impact on their revenues. Another 30% expect that coronavirus will have a moderate to high impact on their business supply chains.
Some have already taken the survival steps - over half of or 52% are taking measures to put together for a financial slowdown as they're increasing fees, converting suppliers, reducing operational costs.
Here's a list of assets to assist small groups to survive towards coronavirus pandemic:
Short Term loan - Gov. Ron DeSantis said a preliminary $50-million injection to the Florida small commercial enterprise emergency bridge mortgage software is meant to help those corporations stay afloat all through an economic shutdown and is meant to reduce the effects of the pandemic.
State survey - DeSantis’ management activated the survey of commercial enterprise harm evaluation to evaluate the impact. The survey will assist you to plan your enterprise techniques.
Remote work option - People are already operating from home. With a few free software programs and telecommunication software programs (zoom, skype, and hangout), your groups can stay in contact and run your commercial enterprise as usual.
Example - Coverage organization Aetna, which shed 2. 7 million rectangular ft of office space and stored $78 million within the system.
American Express started saving as much as $15 million yearly after introducing telecommuting in their running system.
Far off work policy - In this crisis, there desires to be a widespread policy that can be communicated seamlessly to each new and existing employees.
Business continuity plans -To track deliver chain disruptions, modifications in business operating ways, absenteeism, commercial enterprise continuity plans ought to be organized.
Outsourcing - COVID-19 is spreading rapidly. In this sort of critical time, a few employers are permitting their employees to work at home. Small agencies can opt for outsourcing because of a team of workers shortage.
Virtual Assistants - Pick out digital assistants on your commercial enterprise to get all of the paintings achieved definitely rather than in-man or woman.