What Small Businesses Should Do Today to Survive the Coronavirus

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The coronavirus pandemic has thrust the world into a very challenging and unprecedented economic period. Most businesses, especially small businesses have been negatively impacted and millions are in peril. Every small business owner is justified in their concern for the next few months.

Nonetheless, it is important to remember that we are dealing with a global pandemic like no living person has ever experienced, which has caused an economic crisis, the abruptness of which no living person has ever seen.

Indeed, these are unprecedented circumstances, and small businesses should allow the government to blend their significant financial resources with our organic financial strength to help businesses deal with this emergency period.

Specifically, this includes cash infusion for essentially every small business, from employers to independent contractors to the gig economy folks, who will receive the emergency funds being allocated.

Here is an update on what is available and what you should do right now, today.

Do this first

Go to Canada.ca or SBA.gov and look for the click associated with the Coronavirus Business Assistance Plan. See if you are admissible and sign up for the emergency cash that may be available to you.

Do this next

Contact your banker and begin the process.

Apparently, the bank will be paid interest and some fees, ultimately covered by the government, not you. Your bankers will most likely tell you to go to their website and complete the enrollment form and to provide specific required documentation to them. You will then be asked to sign a loan document.

Be thorough with the forms and then be patient, because unprecedented actions beget bumpy execution. Your bank is being deluged with requests for these funds.

One last word

For decades I have encouraged small business owners to do business with a community bank. In good times and bad times, community banks are always a small business’s best friend.

Believe in yourself: Surviving is winning!

This, too, will pass.

Michel Ouellette, ll.l, ll.m
Business Growth Strategist

JMD Systemics
Systemic Strategic Planning / Crisis & Reputation Management
Skype:jmdlive

 

Michel Ouellette /  Joseph Michael Dennis, is a former attorney, a Trial Scientist, a Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.

JMD Systemics is here to help.

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Covid-19: Time For You To Change The Way You Do Business!

For most small businesses, if they are to survive the coronavirus and its aftermath, it is time to change the way they do business.

The coronavirus pandemic has pushed the economy into a slowdown of unknown severity. It could be a long, drawn-out recession, or a sharp dip followed by a swift recovery. Investors are already anticipating several epicenters of economic pain. Oil companies, airlines, hotels, restaurants, retailers and automakers will report steep losses and issue forecasts for the coming months.

It is no surprise that the virtual lock-down of large swaths of the  worldwide population has delivered a big blow to the economy, which is driven by consumer spending. But investors are intensely interested in whether traditional businesses will be able to survive and adapt to potentially huge changes in consumers’ spending priorities.

In industries that are seriously hammered by the outbreak, some might do better than others. In the restaurant industry, for example, some chains are more likely to thrive when most diners are not leaving home much or at all. Chains with an established takeout and delivery business, such as Domino’s and Papa John’s, are growing fast with the help of online ordering, while other fast-food companies that are heavily dependent on business from commuters might struggle.

The same may be said for all businesses large or small, from Amazon to the small corner business with an established E-Commerce Online Store Set Up. These businesses  are and will be still growing fast in the aftermath of the coronavirus with the help on their online ordering service. Most other traditional businesses that are heavily relying and dependent on business from commuters are already struggling and some are most likely not to survive.

You are a small business and you want to survive! You want to thrive in the aftermath of the pandemic and you do not have and E-commerce Online Store! Maybe it is time for you to consider the need to change how you do business.

Michel Ouellette, ll.l, ll.m
Business Growth Strategist
JMD Systemics
Systemic Strategic Planning / Crisis & Reputation Management
Skype: jmdlive
Michel Ouellette /  Joseph Michael Dennis,is a former attorney, a Trial Scientist, a Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.
JMD Systemics is her to help.