Running a Business During the COVID-19 Pandemic: PART 2
Previous part here
Image credit: https://flickr.com/photos/dva41/
Unfortunately, we have needed to carry on with this series. Every business in the world right now needs to develop a new business plan. As we are in uncertain times and we do not know how the world markets will look in a couple of weeks, it is advised that every business becomes proactive in adapting to our changing societies.
We advise all businesses if you have not done so already to consider these options for the future.
SHORT-TERM PLANS (1-3 Months)
List out the threats to your business during this period. What are the options you could take to avoid them and how likely are they to work? Speak to suppliers and creditors to see if you may get relief during this time.
MEDIUM-TERM PLANS (3-6 Months)
There are only two possible outcomes we will have to consider over this period. As there is still no official vaccine for the virus it means that this figure is still only speculation. And that the very worst-case scenario is that we are stuck in a cycle repeating these events until a vaccine is found. Mass-produced and distributed.
a.) Continuous lockdown period from now for the next 6 months.
b.) Periodic lockdowns from now for the next 6 months
LONG-TERM PLANS (6-12+ Months)
a.) Continuous lockdown period that would be impossible to sustain but best to plan for anyway.
b.) Periodic lockdowns or lockdowns based on areas or regions.
Either way, the long-term outlook without a vaccine would mean that we are facing major changes to society. And a coming great upheaval. Our roles and the services we provide are an important part of maintaining our local economies and recovery from this period.
This has been proven with the importance of shelf stackers, small local shops, carers medical professionals, police, and more. All local organisations that can continue, will play a vital role in seeing each of our communities through these times.
The conclusions will determine what happens to a business.