Coronavirus: Challenges for Businesses and a Way-Out

2020 has been a nightmare for many businesses - especially for some industries like tourism and airlines - due to the coronavirus disease outbreak. It’s not only affecting the lives of people around the world, but also impacting the global economy, and local large and small businesses around the world. So what can you do as a business owner during these challenging times?

Here are some practical ideas for your business to get going during this pandemic.

So what's a Business Continuity Plan (BCP)?

It involves creating a system of prevention and recovery from potential threats to an organization. The plan ensures that employees and assets are protected and can function properly in the event of a disaster or uncertain situation. The BCP is generally worked upon in advance and involves input from personnel and key stakeholders

How will BCP help you in this pandemic?

In this scenario, BCP will assist you to:

improve your employees’ security

ensure that things go smooth in case any of your employees are quarantined or infected

ensure an alternative plan of action with your customers, suppliers, and any other relevant parties so that the impact on your business is reduced

Due to the lockdown in many countries, people are more reluctant to go out. The government has ordered businesses to shut down for a while and shutting down for Brick and Mortars means no sales.

So how can a business owner still continue to generate revenues for the store?

A viable option would be to operate online. Customers will certainly turn to online conveniences when they see physical stores inactive. This will allow them to make purchases as usual, but only sitting at their homes. Moreover, it will also prevent your physical store from spreading the deadly disease.

So set up your online presence with a POS system like Oscar POS, which comes with extensive features allowing you to sell both online and offline easily. Oscar POS automatically syncs all your available products and lets you perform all your accounting transactions and inventory management functions

Level-up Your Branding and Social Media Game

As a business owner, you must know that your importance to the community is uncanny and you also play an important role in the economy. So what you have to say matters to a large number of audiences.

Use your voice and brand during this time to share what you’re doing for your business, employees, and customers in this disaster, whilst also educating the public about the coronavirus.

Some social media posts you can share with your followers are:

dos and don’ts for people and coronavirus misconceptions

motivational tips for other business owners

highlight coronavirus (COVID-19) relief efforts or government organizations that you’ve supported

shoutouts for your loyal customers who shopped with you recently, thanking them for their support

It’s, unfortunately, clear that the coronavirus is going to change our daily lives for the next few months at least. Stay safe and healthy, and practice social distancing. While you’re stuck inside, keep your eyes open for any opportunity that comes your way.