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  • Sally Cooper

SMALL BUSINESS SURVIVAL DURING COVID19

COVID19 affects each of us personally as well as in the realm of small business. Within this new environment,

a business needs to brainstorm all avenues of access to keep moving forward.


1) BE PREPARED TO ADAPT

Moment by moment change requires agility and adaptation as you wade through current events and press forward within new opportunities to serve your clients.


2) ASK FOR HELP

A realization of your need for help as you network with other business owners, gleaning from their supportive advice through social media groups as well as email.

Peruse Government of Canada small business website for offered benefits.


3) REACH OUT TO CUSTO

MERS & COMMUNITY

Though a certain measure of distance is mandatory, we need not isolate relationships. Reaching out to clients, meeting them where they are at through appropriate media channels; fosters ongoing interaction and revelation of their needs.


4) GET CREATIVE GO DIGITAL

If your business is not online now is the time to do so. Register with Google business for free; becoming available to your clients as you create a website or online business store. Various free website hosts such as WIX, SquareSpace, WordPress along with Shopify, Etsy and Amazon are available to assist you.


5) CUTTING COSTS

As you shift your business you will experience the inevitable loss of revenue; demanding a consideration of techniques to conserve costs, such as

-gift cards, redeemable at a later date

-Government subsidy

-return of unsold stock

-reduction of work hours; reducing payroll cost

-discounted inventory

-negotiate payments


6) THE USE OF GoFundMe

The use of a crowdfunding website such as GoFundMe, as a community outreach can raise an awareness and generate financial support; thereby keeping your business afloat and moving forward.


Our Team at BONSE BONSE REAL-TIME BOOKKEEPING have taken the necessary measures to tailor our service to you our valued customers; enabling the smooth transition of your business forward.



Written by:

Sally Cooper

May 15, 2020

Reference:

Jennifer D'Agostino

QuickBooks

Small Business Center




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