7 ways to protect your small business or startup during the coronavirus pandemic
7 ways to protect your small business or startup during the coronavirus pandemic 1. Review your Business Plan You are probably already creating a portable business plan. However, it is time to look at it again and see if it still works today. It is important to remember that because the epidemic limits are over in many areas, customers will still have health and safety issues and make informed purchasing decisions. Cafe programs, for example, may require additional resources to place online orders and a food delivery system. This means reviewing business terms, the employees you will hire, how you will set up an online program, and where you will earn extra money. 2. Invest in your people. Fotak says coronavirus has created a liquidity problem, which usually subsides over months rather than years, such as banking operations or other financial problems. Likewise, Ulbrich says people may be the only competitive advantage left for many small businesses now.