The mandatory lockdown that has taken place throughout the country is taking a heavy toll on the economy. It may feel like it’s time to halt business processes, but service professionals can continue running their business as long as some necessary adjustments are in place. We have put together a few options to keep your head up above the water.
By taking a step back and putting your community first while running your company, you may find more opportunities presenting themselves.
Reach out to clients
Staying relevant may feel like a challenge in our current situation, although with a little creativity, it is possible. If you are considered an essential business, then make sure to inform all of your clients that you are open and safe. The best way to do so is by sending an email announcing your updated safety procedures and offering free or discounted services.
Ramp up your online strategy
Do not miss out on the opportunity to engage with customers on social media and increase brand awareness. This is a great time to reach new customers while everyone is at home and online. Whenever there’s an economic disruption, the first reaction many businesses have is to pause their ad campaigns until the situation dies down. This is why you should keep your Facebook Ads going while the competition and costs are lower than average. Making sure to tailor ads to the changing needs of costumers right now by offering any resources that may be useful.
Apply for relief funds
Find out if your small business qualifies for any loans during this time, the U.S. Small Business Administration (SBA) is administering low-interest loans during the COVID-19 pandemic. https://www.sba.gov/funding-programs/loans
Paycheck Protection Program (PPP)- helps to keep your workforce employed.
https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf
Economic Injury Disaster Loan Emergency Advance (EIDL) – a 10,000 cash advance to provide relief to businesses that are experiencing temporary difficulties.
https://www.sba.gov/sites/default/files/2020-04/SBA%20Faith-Based%20FAQ%20Final.pdf
