How to Save Your Business During COVID-19 Pandemic
All types of businesses around the world are currently experiencing a financial crisis due to restrictions associated with a global pandemic called coronavirus. This has led millions of people to flee the virus epidemic through self-isolation at home and avoiding unnecessary shopping and contact with people.
One well-known analyst expressed his authoritative opinion on this subject: Due to the coronavirus, there is a possibility of closure
A total of 15,000 permanent retail stores were located in 2020. At the same time, the Institute for Economic Policy predicts such a situation that an outbreak of the disease could potentially destroy three million jobs in the US economy before this summer.
#STAYHOME and continue to work
The “stay home” order forced all businesses to close their doors until April 7th. But in order to stay in working condition, some enterprises are turning to new ways of attracting customers. Most entrepreneurs put their business online and search for the best web hosting provider in Australia. Now it is quite easy to do, especially if you are well versed in this and you have gained experience in this field. During the pandemic, the situation with fraudsters and deceivers has sufficiently exacerbated, so be careful.
NOW LET'S LOOK AT USEFUL TIPS FROM SEASONED BUSINESSMEN AND FINANCIERS
1. Prepare a Business Continuity Plan During COVID-19 2020
A business process continuity plan is a plan that describes processes and systems that can help you prevent and eliminate potential threats to your business. This plan provides protection for your employees and assets and the ability to recover quickly.
In this case, when it comes to coronavirus (COVID-19), a business continuity plan will help you:
protect your employees
minimize the risk of spreading the disease
ensure a plan is in place if any of your employees are infected
provide alternative agreements with your customers, suppliers and any other interested parties so that your business can continue to work
2. Use a System for Selling Online
People are more reluctant to go out now due to the rise of coronavirus (COVID-19) cases. And fewer people outdoors means fewer sales for stores.
One great option is to sell online. This will allow customers to buy in your shop and being in comfort in their own homes. It reduces the risk of coronavirus infection in your physical store. So set up your online shop with a POS system like StoreHub, which comes with an e-commerce feature that lets you sell both online and offline easily, because it automatically syncs all your available products. This way of stock management lets you know exactly how much total stock you have left. And this is especially important during this time because of ongoing shipment and supplier delays. Once it is set up, promote your online shop via social media/SMS/WhatsApp/email so people know that you’re now selling online.
3. Offer Contactless Payments to Your Customers
The Telegraph reported that according to the World Health Organisation (WHO), banknotes may spread the coronavirus (COVID-19) disease.
This is because banknotes change hands often, so they can pick up all sorts of bacteria and viruses.
It’s even gotten to the point where China and South Korea are disinfecting/isolating/burning old or dirty notes. So if you’ve ever wanted to try and implement contactless payment options like e-wallets in your physical store, now’s the time to do so. Some contactless payment options that you can accept are:
Business Support During COVID-19
If you are faced with unresolvable trouble related to your business there is a service of Business Support. The Australian Government provides the necessary support to enterprises in the event of cash flow and employee problems. Assistance includes cash support for enterprises and temporary measures in the form of assistance to enterprises with financial difficulties. The government is committed to allocating $1 billion to support the regions, which are most affected by the outbreak of Coronavirus. These remedies will be available to help during an outbreak and recovery from an outbreak of the virus. In addition, the government assists the airline industry by providing incentives for a number of taxes and government fees, the total value of which is up to $715 million.