Ways to Ensure Your Business Survives the Reopening of the Economy

1. Prepare your business for the reopening of the economy

The COVID-19 pandemic has forced businesses across the globe to temporarily close their doors. But as countries begin to ease restrictions and reopen their economies, it's time for businesses to start preparing for the next phase.

There are a few things to keep in mind as you start planning for the reopening of your business:

1. The safety of your employees and customers should be your top priority.

Make sure you have a plan in place to keep everyone safe. This may include things like providing personal protective equipment (PPE), increasing cleaning and disinfecting, and implementing social distancing measures.

2. Be prepared for a gradual restart.

Don't expect things to go back to "normal" overnight. It will likely take some time for customers to feel comfortable coming back into your business. Start by opening your doors for a few hours each day and gradually increase as traffic picks up.

3. Be flexible and adaptable.

Things are still changing rapidly, so it's important to be prepared for anything. Be ready to make changes to your plans as needed.

4. Communicate with your employees.

Keep your employees in the loop about your plans for reopening. Let them know what measures you're taking to keep everyone safe and give them a chance to ask questions or express any concerns they may have.

5. promote your business online.

Use social media and other online channels to let people know you're open for business. Update your website and Google listing with your new hours and any changes to your services.

The reopening of the economy is a big step forward in the fight against COVID-19. By following these tips, you can help ensure a smooth transition for your business.

2. Understand the risks involved in reopening your business

As the COVID-19 pandemic continues, more businesses are reopening their doors. While this is good news for the economy, its important to understand the risks involved in reopening your business.

There are a number of risks to consider when reopening your business, including:

1. Financial risks: The pandemic has had a major impact on the economy, and many businesses are still struggling. Reopening your business too soon could put you at financial risk if customersare n't ready or able to return.

2. Health risks: There is still a risk of exposure to COVID-19 when interacting with customers and employees. Its important to have a plan in place to protect your employees and customers from exposure, including wearing masks and social distancing.

3. Legal risks: There are a number of laws and regulations in place related to COVID-19 that businesses must follow. If you don't follow the rules, you could face penalties, including fines and possible closure.

4. Reputational risks: Your businesss reputation is at risk if you don't take the necessary precautions to protect your employees and customers from exposure to COVID-19. Customers may be hesitant to do business with you if they don't feel safe.

5. Operational risks: Reopening your business after a long closure can be challenging. You may need to make changes to your operations to comply with health and safety guidelines. You may also need to train your employees on new procedures.

Taking the time to understand the risks involved in reopening your business is crucial to protecting your employees, customers, and business.

3. Develop a plan to mitigate the risks of reopening your business

When developing a plan to mitigate the risks of reopening your business, there are a number of factors to consider. The first is the type of business you operate. If you have a physical storefront, you'll need to consider the risks of customers coming into contact with one another and with surfaces in your store. You'll also need to think about how you'll maintain social distancing and cleanliness standards.

If you have employees, you'll need to think about their health and safety as well. You'll need to develop plans for how they can work safely, how you'll communicate with them about health and safety protocols, and what you'll do if someone becomes sick.

You'll also need to consider the financial risks of reopening. Many businesses have been forced to close their doors due to the pandemic, and many more are struggling. You'll need to make sure that you have the financial resources in place to weather any potential downturns.

Finally, you'll need to think about the legal risks of reopening. There are a number of laws and regulations that businesses must comply with, and failure to do so can result in heavy fines or even jail time. Make sure you're up-to-date on all the requirements before you reopen your doors.

Developing a plan to mitigate the risks of reopening your business is critical to ensure the safety of your employees, customers, and yourself. By taking the time to consider all the potential risks and develop plans to address them, you can give your business the best chance for success.

Securing early funding doesn't have to be difficult

FasterCapital helps startups in their early stages get funded by matching them with an extensive network of funding sources based on the startup's needs, location and industry

Join us!

4. Implement health and safety protocols to protect your employees and customers

1. Establish a health and safety committee.

This committee should be responsible for developing and implementing health and safety protocols. It should also be responsible for monitoring compliance and investigating any incidents.

2. Develop written policies and procedures.

These should address topics such as handwashing, personal protective equipment (PPE), cleaning and disinfecting, and contact tracing. Be sure to consult with local health authorities to ensure your policies are in line with their recommendations.

3. Train your employees.

All employees should be trained on your health and safety policies and procedures. This training should be ongoing, and employees should be aware of any changes to the policies.

4. Implement physical distancing measures.

Where possible, arrange workstations to allow for physical distancing of at least six feet. If this is not possible, consider installing barriers between workstations. Employees should also avoid congregating in common areas, such as break rooms or kitchens.

5. Promote good hygiene practices.

Encourage employees to wash their hands often, and provide ample supplies of soap, water, and hand sanitizer. Make sure all common areas are equipped with disinfectant wipes andspray cleaners.

6. Encourage sick employees to stay home.

Sick employees should not come to work, and should instead stay home and consult with their healthcare provider. You may also want to consider implementing a paid time off policy for sick employees.

7. Monitor compliance with health and safety protocols.

It's important to make sure employees are following your health and safety protocols. You can do this by conducting regular audits and spot checks. Employees who repeatedly violate the policies should be disciplined, up to and including termination.

8. Investigate incidents and near-misses.

Any incidents or near-misses should be investigated to determine the cause and prevent future occurrences. Be sure to document all investigations and share the results with all employees.

By taking these steps, you can help protect your employees and customers from COVID-19 and other illnesses.

5. Train your employees on health and safety protocols

When it comes to training your employees on health and safety protocols, there are a few key things you should keep in mind. First, make sure that your employees are aware of the dangers of not following protocol. This may seem like common sense, but it's important to stress the importance of safety in the workplace.

Next, be sure to give your employees the proper training on how to follow health and safety protocols. This includes things like proper hand-washing techniques, how to properly wear personal protective equipment, and how to safely handle hazardous materials.

Finally, make sure that you provide your employees with regular updates on health and safety protocols. Things change over time, and it's important that your employees are kept up-to-date on the latest information. This will help to ensure that they are following the most current guidelines and keeping themselves and their coworkers safe.

By following these tips, you can ensure that your employees are properly trained on health and safety protocols and that they are following them to the best of their ability.

Need help in estimating the costs for building your app?

FasterCapital provides you with a full detailed report and assesses the costs, resources, and skillsets you need while covering 50% of the costs

Join us!

6. Establish clear communication channels with your employees

It's no secret that communication is key to any successful relationship, be it personal or professional. The same goes for the relationship between an employer and their employees. After all, without effective communication, it would be difficult to get anything done within a company.

There are a few different ways to establish clear communication channels with your employees. The first is to have regular team meetings. This gives everyone a chance to voice their opinion on whatever project you're working on and ensures that everyone is on the same page.

Another way to communicate effectively with your employees is to make use of technology. There are a number of great tools out there that can help you stay in touch with your team, even if they're not in the same physical location as you. Slack is a great example of a tool that can be used for communication within a company.

Finally, it's important to remember that communication is a two-way street. In other words, you should also make yourself available to your employees so that they can come to you with any questions or concerns they may have. The best way to do this is to have an open-door policy.

By following these tips, you can establish clear communication channels with your employees and set your company up for success.

Entrepreneurs are misfits to the core. They forge ahead, making their own path and always, always, question the status quo.

Maximillian Degenerez

7. Monitor your employees compliance with health and safety protocols

health and safety compliance is a huge responsibility for any employer. Not only do you have to make sure your employees are following the correct procedures, but you also need to be proactive in identifying and addressing potential hazards.

There are a few key things you can do to help ensure your employees' compliance with health and safety protocols:

1. Communicate clearly and often

Make sure your employees are aware of the health and safety protocols they need to follow. Hold regular meetings or training sessions to go over the procedures, and post signs or memos in prominent places as reminders.

2. Lead by example

As the saying goes, actions speak louder than words. If you want your employees to take health and safety seriously, you need to set the tone by following the protocols yourself.

3. Encourage reporting

Encourage your employees to report any potential hazards or unsafe practices. This way you can address the issue before it becomes a bigger problem.

4. Invest in safety equipment

Investing in the proper safety equipment can go a long way in preventing accidents and injuries. Make sure your employees have access to the tools they need to stay safe.

5. Perform regular audits

Regularly audit your workplace to identify any potential hazards or areas where improvements can be made. This will help you keep on top of things and make necessary changes as needed.

Monitoring your employees' compliance with health and safety protocols is essential to protecting them and your business. By following these tips, you can help ensure a safe and healthy workplace for everyone.

8. Be prepared to adjust your plans as needed

Be prepared to adjust your plans as needed: The reopening of the economy is a gradual process, so be prepared to adjust your plans as needed. For example, if your state or local government imposes new restrictions, you'll need to be able to adjust your plans accordingly.

Keep your employees and customers safe: One of the most important things you can do as a business owner is to keep your employees and customers safe. Make sure you have adequate safety measures in place, such as masks and sanitizing stations.

Communicate with your employees: Keep your employees in the loop about your plans for reopening. Make sure they understand what's expected of them and what safety measures they need to take.

Be flexible with your customers: Your customers may be hesitant to return to your business right away. Be flexible with them and offer options such as curbside pickup or delivery.

Monitor your finances closely: The pandemic has had a major impact on the economy, so it's important to monitor your finances closely. Look for ways to cut costs where possible, and be prepared for a decrease in revenue.

The bottom line is that the reopening of the economy is a fluid situation. Be prepared to adjust your plans as needed and keep your employees and customers safe.

9. Seek support from government and industry organizations

The federal government and various industries offer a variety of supports for businesses. The type of support offered depends on the business sector and the specific business need.

The federal government provides support through programs and services that promote entrepreneurship and help businesses start up, expand, and succeed. Industry organizations offer a range of supports, including sector-specific information, networking opportunities, and access to financing.

The first step in finding the right support is to identify your business need. Once you know what type of support you need, you can research the programs and services offered by the government and industry organizations.

The government offers support through programs and services that promote entrepreneurship and help businesses start up, expand, and succeed. Industry organizations offer a range of supports, including sector-specific information, networking opportunities, and access to financing.

The first step in finding the right support is to identify your business need. Once you know what type of support you need, you can research the programs and services offered by the government and industry organizations.

There are a few different ways to get support from the government:

1. Grants: The government offers grants to help businesses with start-up costs, expansion, research and development, and other needs. Grants are typically awarded to businesses that meet certain criteria, such as being in a specific industry or having a certain amount of revenue.

2. Loans: The government offers loans to help businesses with start-up costs, expansion, and other needs. Loans are typically repaid with interest, and businesses must meet certain criteria to qualify.

3. Tax Incentives: The government offers tax incentives to businesses that invest in certain areas or that meet certain criteria. Tax incentives can include deductions, credits, or exemptions from taxes.

4. Technical Assistance: The government offers technical assistance to help businesses with start-up, expansion, and other needs. Technical assistance can include training, counseling, and other forms of support.

Industry organizations offer a range of supports for businesses, including sector-specific information, networking opportunities, and access to financing. Industry organizations can be national or regional, and they typically represent businesses in a specific industry or sector.

Some industry organizations offer programs and services that are open to all businesses in their sector, while others are only open to members. Membership typically requires payment of dues, and businesses must usually meet certain criteria to join.

Industry organizations can offer a variety of supports for businesses, including:

1. Sector-Specific Information: Industry organizations can provide businesses with information about trends, regulations, and other issues affecting their sector. This information can be helpful for businesses that are starting up or expanding into new markets.

2. Networking Opportunities: Industry organizations can provide businesses with opportunities to network with other businesses in their sector. This can be helpful for businesses that are looking for partners or suppliers.

3. Access to Financing: Industry organizations can provide businesses with access to financing through loans, grants, or other programs. This can be helpful for businesses that are looking for funding for start-up or expansion costs.