Small businesses' survival guide during Covid-19

Due to the disruption caused by Covid-19 on normal life, many, if not all areas of our lives have been affected. Businesses too are feeling the pinch of this as some have had to close up shop. For some, especially small businesses, the future looks bleak. However, there are several things that can be done to help you stay afloat during these uncertain Covid-19 times.

Adapt

For starters, it would do everyone good to admit that things will not simply go back to normal. This calls for making adjustments to your life and your business. To ensure your business stays afloat, find suitable ways for your business to create opportunities out of the current situation. For instance, some companies have redirected their businesses into making masks, sanitizers and essential goods during this time.

Delivery companies are also improving their online presence as people are more likely to shop online and have things delivered to their homes. The key is to find gaps where your business can provide the necessary services and goods.

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Stay in touch with existing customer base

Although your customers may not be patronizing your business at the moment due to shift in financial priorities, you should not forget about them. According to Quinn of Wrapped Nation, a Kenyan head wrap brand, talking to customers regularly helps business owners to know what is important to their client base. For her, satin  bonnets have become a hit as people are staying indoors.

Manage finances

A lot of people have lost their livelihoods due to the pandemic and businesses need to take heed of that. You may not be able to give discounts but you can advertise your business on different platforms. Additionally, you could cut overhead costs by having staff work from home if possible or in shifts. Redirecting your finances is a good step to ensuring that the business is able to run without dire consequences to employees.

Social media

In 2020, if your business is not online you are losing out on an important client base. Majority of people are online and spend even more time on their phones and laptops. To get started, there are tried and tested strategies to draw clients to your page and convert them to customers available to entrepreneurs online.