Many of your clients are thinking about reopening. With them reopening there may be some anxiety about what to expect when they reopen. Although we can’t solve every problem we face because some problems are bigger than us. Here are a few steps to help your clients navigate reopen.
Help Them See The Whole Picture
Very few businesses will return to pre-corona virus lock down income stream. After a few months they will return as more consumers are out there spending money. It is possible that with continued social-distancing requirements sales will be lower until people feel more comfortable.
Yes, it is okay for your clients to be concerned about decreased revenue, but it is important to not let them dwell on their top line to long. As business owners we need to see the whole picture not just declining revenues. If your revenue doesn’t return right away, consider reducing your expense stream until it does return.
What Have You Already Done
If you are able to keep your business functioning in some capacity during the partial reopening in NH and VT, now is a great time to re-analyze what you have been doing the past 3-4 months for revenue and expenses. Many businesses today are getting creative in the short-term to keep their business viable for the long term. Your business might be healthier in the long run if you change things up right now.
Workforces Are Facing Unique Challenges
In many parts of the country, summer camps and day camps that many parents rely on during the summer months with school out are canceled. This causes hardships not only for clients, but employees.
Right now you can still apply for PPE program through the government. The payroll protection program will give you a revenue stream to pay your employees while they work part-time or remotely for your business.
Talk to you tax consultant about disaster assistance programs with the Federal Government. In some worse case scenarios it might be necessary to replace some of those workers that can’t come back to work right away. This is a decision that you’ll have to weigh carefully before you make those decisions.
Get Help Outside Of Your Business
We know how hard it is to run a business. You don’t have to be a therapist to understand the impact it has on business owners and employees. But don’t be afraid to reach out to a therapist for support.
These are unique and stressful times for all business owners in every industry. In many ways reopening could be more stressful than staying closed. Help yourself and your employees transition back into full time work and getting your business back onto solid financial ground.