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The COVID-19 outbreak has wreaked financial havoc around the globe, leaving many business owners struggling in its wake. According to the National Federation of Independent Business (NFIB), as of March 30th—still early in the crisis—92% of small businesses said they had suffered negative effects as a result of the pandemic. Just 5% of small-business owners said they had experienced no effects at all.
As the US and countries across the world start to ease COVID-19 stay at home orders, government officials have cautioned that the transition back to “normal” will be slow. So while retail and other brick and mortar stores start to open, small business owners should still be prepared for lower than usual traffic. One way to ease the pain? Focus on your online strategy.
The last few months have been all about survival. Small businesses across the country have been in crisis mode, scrambling to stabilize and stay afloat amid COVID-19. But we are slowly starting to see signs of transition – Payment Protection Program (PPP) loans are being distributed, states are starting to reopen, and many nonessential employees are headed back to work.
