Many businesses have had to close amid local lockdowns in various parts of the UK.
The government is offering businesses grants of between £1000-£1500 per three weeks they are closed. This is likely not to be enough for any organisation who has to still somehow meet most if its overheads without making any revenue.
However, not all has to be lost, here are just 3 things you can do to keep your business running during a lockdown.
Start delivering online
Use your website and/or social media channels to let people in your locality know that you are able to offer a reduced online only service. By delivering and/or making it possible for customers to collect will ensure some revenue coming into your business.
Negotiate with creditors and debtors
Talk to those who you owe money about renegotiating or deferring payment. It’s much better to take the initiative and take the conversation to your creditors rather than to ignore them and risk legal action. At the same time, chase your debtors to try and recoup monies owed to you.
Invest in learning and be social
If you’re unable to continue running the business via online means, and have no choice but to keep shut, then it’s important for you to use that time wisely. The internet is full of free and cheap resources. You can:
- learn a new skill
- increase your understanding of running a business
- attain a better understand of your industry
- brainstorm new ideas to take your business forward
It’s important to not be forgotten by your customers and community so that they return to your doors when things are back to normal. You should regularly keep in touch with your local community by attending socially distant gatherings and meetings or via blogs, social media and video calls.
It’s a tough time for many of us, yet every difficulty can present numerous opportunities to come out of this period better and stronger.
This article is for information and interest only. It is not a substitute for full professional advice, which will take in to account the specific and individual circumstances. Navigate Business Recovery Limited cannot accept any responsibility for any loss arising as a result of any person or organisation acting or refraining from acting on any information.
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