As an SME owner, you must be fraught with worry about whether your business will make it till then. It may help to learn that you aren’t drifting alone in this boat of worry. As per a report issued by small business insurer Simply Business, almost 20% of UK-based SMEs feel that they will not survive the second lockdown brought about due to the Corona pandemic. However, another research study conducted by Paragon Bank revealed that 52% of SMES experienced a rise in their sales.
If it happened for them, it can happen for you. With some effort and luck, here’s how your business can survive the second lockdown:
You are better prepared for this lockdown as you’ve emerged from the first one. The world knows more about COVID-19 and systems are in place to manage the economy more efficiently. Also, you’ve had time to design, implement and promote the SOPS you follow.
You’ve also had some exposure to what kind of marketing and sales strategies work better under the pandemic and how to leverage your competencies in a cost-efficient way. The government is also working around the clock to provide and lend support.
The government has brought its Coronavirus Job Retention Scheme and has extended it till March 2021. If you’ve had employees under you before October 30, 2020 – the govt will cover 80% of their wages with a ceiling limit of £2,500 per month. As an SME owner, you’ll be able to claim your staff’s salaries. You can get more information on the process here.
Despite the toll of having to stay indoors and not interacting with friends and family may take on your mental health – it is vital that you count your blessings. You’ve got a roof over your head, food on your table and your wits about you – you’re better off than most in this world.
Your business will reopen its doors again in a few weeks – if you believe it will. Having faith and staying in a positive mindset is crucial to persevering through these difficult times.
The very nature of COVID-19 endangerment limits human contact – hence, leaving consumers no choice but to widen the scope of their shopping channels. E-commerce is experiencing a fresh boom as businesses attempt to set up their services online.
Restaurants are offering takeaway and delivery services via web, clothing/retail outlets are providing click & collect options or delivery whilst event management firms are organising virtual functions. No matter what type of product or service you offer, there is a way for you to scale yourself and to function better. One uplifting example is that hotels are better prepared now as compared to the first time around. They changed their booking policies in light of the global crisis to be more flexible. As a result, guests have not cancelled their reservations but simply moved their reservation dates forward. This serves as a hope and promise of incoming revenue in the near future.
If you don’t have the means to build a whole website and set up an online paying system – don’t worry, Just take to social media to set up a company page and start posting fun content to engage with your customers. You can also offer delivery services via social media and showcase your products/services accordingly.
After the holiday season is over, your customers are going to flock to your shop to catch up on their holiday season shopping.
You may require an extra set of hands to help see you through the seasonal rush. Get a head-start on your hiring process and begin the search for your next star. Post your job and receive resumes directly from competent candidates. Platforms such as JOB TODAY will give you access to thousands of candidates within minutes of setting up your account. You can chat with them directly or just give them a ring to see if you both click.
When there’s a will, there’s a way. As you see, there are ways to leverage the next few weeks in your favour to develop an online footprint and to boost sales. And of course, Christmas is just around the corner with gifts, family time and delicious food to look forward to! In the meantime, put your feet up, plan around and get some rest whilst you still can!