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Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

COVID-19 Pandemic and Your Small Business

Apr 02, 2022
Business Person Wearing Mask

The COVID19 crisis has severely impacted small businesses. Unfortunately, they overrepresent the hardest-hit sectors like retail, hotels, food services, entertainment services, and construction. 

Many small firms were forced to close or pivot due to the closure in 2020 and 2021. Small business entrepreneurs struggle to discover their new route as the country opens up. Moving forward was made more difficult by the pandemic. 

Keeping afloat during COVID-19 needs novel approaches. How do you budget, forecast, or plan for the future when you don't know what it holds? What are the things that one must learn to continue running a successful business throughout this period?

Develop a Communication Strategy

Create a strategy for communicating with your clients, partners, suppliers, investors, and other stakeholders. Please continue to share information with your customers, whether it's about supply chain disruptions, being short-staffed, shipping and freight delays, or being entirely shut down. Keep them informed about your company's policies, any changes to operations, and new methods you may service or engage with them during this time.

Covid-19, technology and your Business

One of the few bright spots in the Covid-19 outbreak has been the tendency of people banding together to help small companies survive. During the pandemic, technology can help small business owners use scarce resources in better, more productive ways. E-mail and instant messenger are valuable technology tools for small firms because they allow them to interact rapidly, share information, and receive feedback. Because there are still some lockdown limitations in place in some locations, small firms may evolve to compete with larger corporations and even beat them at their own game with the help of technology and innovative techniques.

Telecommuting

Technology allows small business owners and workers to work at the office, from home, on the road, or even across the country. Telework has increased dramatically throughout this crisis and should be factored into your strategy. Implement policies and technology that promote collaborative and secure at-home work.

Technology can help firms acquire a competitive edge in the global market by allowing small business owners to hire personnel from all over the world. 

Online Stores and Shopping

The pandemic does not prevent a company that deals in buying and selling or promoting products from continuing to operate.

The pandemic has removed any distinction between what can and cannot be purchased online. It may take years for people to accept the idea of returning to a store to browse and shop the way they previously did. Crafters, apparel and accessory designers, and painters can now start online stores instead of investing in pricey storefronts thanks to advances in technology. Rather than fighting this trend as a small business, why not embrace it to create a unique retail experience that appeals to clients' wants for convenience and improved safety?

Let's face it: even though the traditional approach of conducting a business might still be practical during this period, The world has changed. Now is not the time to mourn the way things used to be. Instead, return to the drawing board, rethink your strategy, and look for methods to adapt your business to this new normal.

The opinions expressed in our published works are those of the author(s) and do not necessarily reflect the opinions of the National Association for the Self-Employed or its members.

Courtesy of NASE.org
https://www.nase.org/business-help/self-made-nase-blog/self-made/2022/04/02/covid-19-pandemic-and-your-small-business