Top tips for getting your small business through the coronavirus crisis

Top tips for getting your small business through the coronavirus crisis

News

Every company, be it large or small, is going through a period of major unrest. The coronavirus crisis has swept across the world, causing billions of people to be confined to their homes, and leaving millions of business owners to simply shut their doors, and hope for the best. We are in the middle of a major period of transition and upheaval, and in the coming weeks and months, many businesses will find themselves facing stresses and strains that, two or three months ago, wouldn’t have been in any way conceivable. So, given that this is a time of massive confusion and concern, what should small business owners be doing right now to prepare themselves for the future, and how can they put themselves in the best possible position to weather this most detrimental of storms? We look at how to get your small business through the coronavirus.

1. Keep communications going

Whether it be via your social media channels, emails, newsletters or simply putting relevant posters up on your shop window, you need to ensure that you keep your communications going. If it is possible to operate some of your business remotely then try to do that, while also ensuring that all of your clients and customers are kept updated on what you are doing, and what you are doing to prepare for the future. Try to remain positive and encourage a dialogue with your consumers, even if it isn’t directly associated with your business’ day-to-day operations.

2. Collaborate

Are there any local small businesses that could benefit from what you do? Are there any organisations that could help you out? We are seeing, on a daily basis, examples of individuals and companies going above and beyond to help those around them navigate this crisis, so there absolutely are people that could use your assistance and people that would be willing to help you. Don’t be afraid to reach out.

3. Prioritise your business needs

It can be very easy to fret at a time like this, but it is absolutely essential to realise that just because the parameters of operation have shifted, there is no need to stop your entire business from operating. If there are improvements you have been putting off, this could be the time to make them. Could you spend some time improving the look of your website or social channels? Can you take more of your business online? Try to be as productive as possible and prepare for the time when life is back to normal.

4. Apply for the relevant grants and funding

Make sure that you have applied for all of the financial support that is available to you. This is absolutely essential and is a process that has been streamlined specifically because of the state of the current crisis, so it shouldn’t take too long for you to do. Once these applications have been made, you can concentrate on other issues, safe in the knowledge that your business is not going to collapse imminently.

Getting your business through the coronavirus – where to find out more

For more advice on how to keep your business going through this uncertain period with equipment leasing and more, please get in touch with us at Tower Leasing today.

Tower Leasing have supported the investment and growth of over 40,000 SMEs. No matter what your plans are, we have the business finance products in place and the expertise to help you see them through. Read about our business finance options here.

Image by: stevepb at Pixabay

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