3 Tips for Small Businesses Navigating COVID-19

As we approach the third year of the pandemic and a fourth wave of infection brought on by the Omicron variant, business owners are facing a new set of challenges, specifically small business owners. It’s been an exhausting few years, pushing many business owners to the point of burnout. Here are a few tips to help business owners stay afloat during these challenging times.

Join Forces

Small businesses are the backbone of the economy and an integral part of their communities. Thinking back to March 2020, we saw initial support flooding into businesses through donations and small “loans” in the form of gift card purchases. As those temporary solutions inevitably waned, some of the most resilient entrepreneurs partnered with other small businesses, which not only kept them afloat, but opened doors for post-pandemic revenue streams.

Restaurants helped local farming partners (who usually work behind the scenes) by selling fresh chef-curated seasonal produce boxes. Art galleries sold special edition prints with proceeds to local businesses, boosting sales, exposure, and revenue for both parties.

The takeaway: Don’t underestimate the power of partnership. Whether it’s a skill or services trade to save money on overhead or a special offering that increases awareness and temporary sales, these tactics can bring high value at a low cost.

Embrace Technology

We can all agree that getting through the last few years would have been exponentially more difficult without advanced technology. Of course, there are more obvious changes like the resurgence of QR codes and contactless payment options. If you haven’t taken these steps, now is the time. Technology and automation are your friend. Embracing these solutions means you have more staff to work front of house in your business and could mean the difference between staying open and having to close. If you’re a restaurant, look into systems that can help you manage all of your orders and your inventory. Invest in QR codes for your menu or automate your payroll. If you’re a retailer and you’re not selling online yet, start small. Sell on social channels even if you don’t have a website up and running. 

The takeaway: The way you’ve always done may not be the best way. Keeping an eye on new technology and trying new tactics can be highly beneficial. If you’ve been worried about trying something new, now is the time to dip your toe in the water. Even if you’re not the most tech-savvy, explore the tools that are available to you and give them a try.

Express Empathy

Saving the best for last, when tensions are high, empathy goes a long way. In the wake of the current “Great Resignation” businesses are having a hard time retaining employees frustrated by regularly changing policies, unsafe working conditions, and newly realized access to alternate remote work. Under the stress of saving the business itself, small business owners also have to continually balance the needs of their employees. Staffing shortages are the biggest challenge business owners face today.

At a minimum, some business owners enhanced safety measures with restaurants building permanent outdoor structures and providing extensive PPE to employees. Others gave paid time off to those recovering from illness or taking care of sick family members. We’ve also seen leaders working double time to keep things afloat, stepping into front line roles so employees don’t suffer from extensive overtime.

The takeaway: Every business owner knows that retaining employees is always less expensive than hiring new ones. Try to understand your team’s needs and tend to them as much as possible. Get real about the cost benefit analysis of investing in your employees to keep them around, even if that means you’ll temporarily have to pick up the slack.