Preparing for a “Reopened” Economy
We believe all businesses are essential, whether at the governments order you’ve been closed for a few weeks, working remotely, or responsibly continuing your daily routine. Our desire is that when the present situation is over, all businesses emerge as healthy as possible, ready to engage in the reopened economy. If you find your business unwillingly playing the waiting game, here are a few areas you can pour into, so your business is strong and ready when you get the green light once again.
Take the Money: Take advantage of any government lending and disaster programs you need to in order to keep yourself in a healthy position. These programs are here to help you, so investigate them for your business.
- SBA Covid-19 Relief: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
- SBA Disaster Loan: https://disasterloan.sba.gov/ela/
- Minnesota DEED Emergency Loans: https://mn.gov/deed/business/financing-business/deed-programs/peacetime/
Invest in Your Business: Many businesses are taking advantage of this time to get some tasks done that are challenging with people around. Whether it is upgrading your operations and processes, or painting the inside of your store, think about any of those tasks you would normally need to shut down or work during off hours to accomplish.
Plan for a New Normal: COVID-19 has changed how we see the world. Even as we talk about getting back to normal, we need to realize that normal won’t be the same as it was. Be thinking about how your business will be different in the new normal. Think about how trends like personal distancing, digital meetings, and increased sanitation will continue, and how you need to update your operation to thrive in those realities.
I know you are all longing for business to be back to normal, and I’m telling you it will be. Now is the time to take action so you will be prepared.
1. Take advantage of any government lending money
2. Use this time to invest in your business
3. Plan for a new normal after COVID-19