Pivoting your Business Model for COVID-19

COVID-19 has already made a serious impact on the economy, and nobody knows this better than small business owners. In a 2020 survey, 55% of small businesses have reported that they are already feeling a significant impact on their revenue. With social distancing, stay-at-home orders, and mandatory face coverings, many businesses have had to think on their toes and made big changes in a short amount of time. Here are some things to think about for your small business during the global pandemic.

As a small business owner, you want to first and foremost ensure the safety and health of your employees. Examine closely your existing policies for leave and remote work. The CDC recommends leave policies that are flexible and non-punitive to not only allow sick employees to stay home, but to account for employees that need leave to stay with children during school closures or take care of a sick family member. When possible, stagger shifts or have employees work from home as much as possible to keep in-person contact at a minimum. Talk to your employees and find out what their needs are during this time. Having employees that feel safe and taken care of during this time is of serious importance.

Identify the essential business functions and employees, like raw materials, suppliers, subcontractor services, and logistics that will allow your business to either stay open during this time or to come back strong after a closure. Talk with those essential players in your business to come up with a continuity plan or possible changes that need to be made in the way you conduct business to fit the current climate.

Lastly, think outside the box. If you own a bar and your state enacts a “to-go only” restriction, you may have to rethink how you operate. Instead of focusing on things like live music and happy hour deals, maybe think about how to make online ordering easier or how to better market yourself on delivery apps. The quicker you and your business can adapt to the new environment, the more accessible your business can be to potential customers.

At Kendrick Law Group, we understand how important it is to you to protect your small business. Our attorneys have the experience and knowledge to ensure the safety of your business during this time. Contact us today to schedule a consultation.

Co-written by: Layne Cohen, Law Clerk

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