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COVID-19 Business Advice and Preparation
As the UK Government and Government's across the world try to tackle the COVID-19 pandemic, business owners will also be looking closely at how it may affect them. This includes how it may affect staff, customers, suppliers and any key stakeholders.
By: UK Business Mentoring
Depending on the nature of the business/industry, businesses will have different challenges to face, but one thing is for sure it will affect all in some way.
Here's a series of prompts to help business owners with the areas they might need to be considering:
• Are staff taking all necessary precautions in terms of hand washing etc?
• How will staff sickness/self-
• Is there a contingency to keep trading with fewer staff or can you bring in temporary staff?
• If you have to lay staff off or reduce working hours etc, what is in your staff contracts that covers this?
• If you are forced to close due to Government 'Lockdown' where do you stand in terms of paying staff during closure?
• How robust is your supply chain for your goods and services?
• Are there likely to be supply delays? If so, how much stock do you hold? How long can you trade without new stock?
• Are there alternative suppliers?
• Are suppliers increasing prices due to the crisis?
• Do you import? If so what are the implications of late/no deliveries for several months?
For additional advice on profit, how to identify your Sales Breakeven and Cash Forecasting help call FREE today on 0845 680 3634 or read the full article here:
Communicating Effectively With Customers
• Are you and your staff reassuring customers by "words and deeds" that you are doing all you can and will deliver as normal?
• Will customers be putting spending plans on hold?
• How are you communicating any changes to your customers?
• Is there an additional/alternative service you can offer to clients at this difficult time?
• Are there customers of yours who would be classified as 'high risk' at the moment that you can go the extra mile for? (The authors local shop is currently holding back some supplies of toilet rolls for their elderly/at risk customers)
• If you export, what changes can you foresee, delays, restrictions etc?
• How is customer behaviour affecting you now and likely to over the coming months?
UK Business Mentoring
0845 680 3634