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How Small Businesses Can Overcome Challenges During a Pandemic

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How Small Businesses Can Overcome Challenges During a Pandemic

A small guide for small business to overcome challenges in the pandemic.

· Agile Zone ·
Free Resource

Pandemics are rare. In the past century, we have seen only two major pandemics. This means that rarely people will see two pandemics in their lifetime. But why am I telling you this? The rarity adds unpredictability and exposes how we are not ready to handle the situation.

If you are a small business, you would agree with it. Right now, keeping your small business can be a big challenge. This is entirely different from what the big giants have to go through. The pandemic helped Amazon reach double profit over the year as they netted a $5.2 billion profit compared to their last year’s profit(2019) for $2.6 billion.

So, where does it leave you? Should you just pack up everything and wait for the pandemic to end? Well no! There are still many ways you can overcome the challenges that the pandemic poses to your small business.

To help you overcome the challenges, I will now go through the four tips that I think apply to most small businesses out there. Let’s get started.

How Small Businesses Can Overcome Challenges During Pandemic

Enable Remote Working

Until now, work from home was seen as a luxury more than a change in the environment. With pandemic, we have seen a drastic change in how WFH is perceived. Infact, big companies are making significant shifts when allocating forces to work from home. This should give small businesses the confidence to do the same. The only challenge here is the lack of infrastructure. This means that you might have to buy equipment(s) such as laptops for your employee. You can think of these as a future investment.

By enabling remote work, you are giving your business a chance to succeed and ensure your employees’ safety in the best possible way. The goal is not entirely to shift to remote working, but use it as a tool to enable your business to do better in the current situation.

Think Forward

We humans are more spontaneous than you can think. So, I was doing Formula-1 racing on my personal computer, and I found that most drives are instinctive in their driving style. They are not forward-thinking. So, if someone has a chance to overtake, they will do so, without properly evaluating the risks associated with it, ERS management(a boost mechanism), and so on! So, if someone uses all their boost early on, they will be left with none and eventually lose the race.

What I am trying to say is that races are won on long-term thinking. And, why you should not completely duel on the current situation. All you need to do is equip yourself and your business with the skills and resources so that it can crave its path through the pandemic.

Apart from doing things for the pandemic, you should also plan things after the pandemic. Yes, there will be a post-pandemic market, and the economy will blossom or do at least better than the current situation. Preparing for the future or planning for it can give you the necessary insight to bring the best out of the current situation.

Let Technology Help You

Technology is at the core of our current economy. However, not all businesses take full advantage of it. There are plenty of businesses that are using minimal technology. That was possible in the pre-pandemic situation, but not anymore.

Right now, businesses should invest in technologies that make them better. Communication, for example, needs to be top-notch, and there are plenty of ways you can have effective communication. There are plenty of communication apps such as Zoom, GoogleHangouts Meet, TeamViewer, Adobe Connect, etc., that you can use to effectively communicate with your team. You can also use slack or Trello for task and project management, giving you the necessary means to overcome challenges that are posed by the pandemic.

Apart from communication, small businesses need to cope with tax fillings. For that, businesses can use GST billing solutions such as Vyapar if you are in India or Hurdlr if you are a business in the USA.

See How Your Local Government Is Helping Small Businesses

Governments want their economy to flourish and that is hugely dependent on small businesses as well. That’s why you should look for schemes that your local government has deployed for helping businesses in the pandemic. 

The USA government has already started helping small businesses during the pandemic as they provide the Paycheck Protection Program(PPP), where small businesses can continue to pay the workers payroll. You can check more about the measures by the USA government here.

If you are not from the USA, you should check your local government official site.

Finding the Path

Not every business is similar. There are some businesses that are heavily reliant on onsite work, and that’s why the majority of the employee can’t work remotely. In those cases, it is not possible for them to work remotely. However, they can use technology to ease their work and make them more efficient in the pandemic.

So, what do you think about overcoming challenges by small businesses during the pandemic? Comment below and let us know.

Topics:
agile, covid, pandemic, remote working, small business

Opinions expressed by DZone contributors are their own.

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