Avoid Making These 5 Mistakes When You Reopen Your Business After The Pandemic

It’s understandable to want to fling open your doors and welcome customers back in. COVID-19 has been difficult for individuals and businesses. However, you need to spend a little time considering regulations and the best approach to reopening. Make sure you avoid the following 5 mistakes to have a fighting chance of business survival.

5 Essentials When Starting a Business During Covid-19

  1. Know The Law
  2. The exact regulations can be different in every state, but the principles remain the same. The government wants businesses to reopen. But, they must adhere to guidelines regarding mask-wearing, the number of people in a store, and a variety of other hygiene based rules.

    You must know what these laws and regulations are before you open your door. Be aware that they can change if the rate of infection changes. That’s why you need to check the regulations daily and make sure you’re working within them.

  3. Cashflow
  4. One of the biggest mistakes is underestimating the cash flow you’ll need to restart your business. While you will be trying to extend credit with suppliers, your customers will be doing the same with you.

    To maximize the cash coming into the business, you should consider debt factoring. This is when a third party takes the credit accounts of your customers and pays you the majority of the money instantly. They then chase your customers to get the money and keep the difference.

    You can continue building a relationship with your customer and have cash ready to deal with restarting the business.

  5. Hygiene Checks
  6. If the number of COVID-19 cases increases dramatically then you could find yourself in a second lockdown. You can help to prevent this and the damage it would do to your business. Simply make sure you have sanitizing gel available for all staff and customers, ensure masks are worn, and manage the number of people in your store.

    You can also invest in temperature checkers and make sure that the store is fully cleaned several times a day. It will cost you a little but the alternative is another shutdown, which your business may not survive.

  7. Assuming Staff Are Eager To Return
  8. Your staff will be worried about their jobs and eager to return to work. But, they will also be concerned about health implications. This is especially true if they are in the higher-risk group.

    Assuming they will return is not beneficial to them or your business. Make sure all staff know the measures you’re taking and that they will be safe. You can also offer at-home working where possible. This could be very beneficial to some of your staff, although it may not apply to everyone.

  9. Social Distancing
  10. In principle, you tell your staff that they need to stay the set distance away from each other. In practice, there will be those that aren’t bothered and times when it is not viable or even possible.

    Don’t assume social distancing will be easy, plan for it, and make sure all staff is aware of what is expected from them.

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