08 / December / 2020 : 09-56
Small Business Strategies for COVID-19 Consequences
The COVID-19 pandemic has had a significant impact on small businesses around the world, with many facing significant financial and operational challenges. To deal with the consequences of the virus, small businesses must take a proactive and strategic approach to adapt and recover in the new normal.
One of the first steps small businesses can take is to assess their financial situation and develop a plan to manage cash flow and expenses. This may involve renegotiating contracts, reducing overhead costs, and seeking financial assistance through loans or grants.
Additionally, small businesses must adapt their operations to meet the changing needs and preferences of customers. This may include pivoting to online sales, offering new products or services, and implementing safety measures to protect employees and customers.
Overall, dealing with the consequences of the virus requires small businesses to be agile, creative, and resilient. By adapting to the changing landscape and staying focused on their mission and values, small businesses can navigate these challenging times and emerge stronger in the long run.
Published on 08 / December / 2020 : 09-56
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
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