Small to medium businesses after COVID-19? What’s next? It’s no secret that it’s been a troubling time for businesses both locally and abroad. Regardless of their size or industry, many entities are fearing the worst as lockdown threatens their very existence. Whilst experts can only predict what lies ahead for small to medium businesses after COVID-19 is over, what can businesses and their customers do to lessen the negative impact?
Where businesses themselves are concerned, there are a few measures that can be taken. Whilst these might not totally eradicate the effects of the pandemic, they will help ensure some sort of continuity.
Small to medium businesses after COVID-19: Drive communication
If nothing else, communication strives to reduce stress and anxiety. Whether it’s your customers, suppliers or staff, regular and honest communications with them will lead to respect and support. Even if it means being vulnerable, you owe it to those who keep your business going to tell the truth. This will be the difference between loyalty and abandonment long after COVID-19 is behind us.
Make competitors your partners
Some are referring to it as co-opetition, where competitors support each other and link up wherever possible. This means sharing workloads, knowledge and even some supplies. Now is not the time to be selfish or to keep those pearls of wisdom to yourself. We rise by lifting others and there’s no better time to uplift another than right now.
Make it your goal to strive, not just survive
Over this time, you’ll be surprised at what you can learn about yourself, your staff and your business if you’re open to learning it when it comes to these small to medium businesses after covid-19.
You might even generate some interesting new ideas for revenue during this crisis. Alternatively, you’ll come up with innovative improvements that leave your business better off in the long term. Now is the time to focus on creativity, passion and determination.
Customers, on the other hand, also have a role to play in all of this. When they do their bit, small to medium business will be allowed to keep their doors open, supporting countless people and their households as a result. Here’s how the public can make a difference.
Choose local wherever possible
When you support local businesses, you’re funding a dream, supporting your economy and showing every person that it’s possible to make something from nothing. Try and buy from the organic farmer who delivers once a week and the talented seamstress who makes beautiful clothing from locally made fabrics. Choose local service providers who can deliver the same quality of work as interna
Support eateries and restaurants
Once it is deemed safe to do so, we should all be frequenting our favourite eateries and even the lesser-known ones. We’ve all spent our lockdown cooking and enjoying time at home, why not pay it forward and do a little spending if you can afford to? Many of us budget for dining out as a form of entertainment each month and we’ll soon get the opportunity to do it again. Don’t forget how many people depend on your tips to get by.
Don’t cancel, postpone
From weddings to baby showers and birthdays, COVID-19 has been the cause of many cancellations. Don’t let your event be one of them. Choose to hit “pause” rather than “delete” in order to give service providers a chance to reschedule with you. Most are accommodating and understanding in light of recent events so why not give them the benefit of the doubt? This will also allow them to keep your deposit and still fulfil the job.
We’d just like to remind you that we’re all in this together. If you know of anyone who needs support or a helping hand, now is the time to step in. We wish you all health and prosperity during this period of uncertainty.