Small businesses have already experienced a large drop in demand due to the COVID-19 pandemic and 60% believe demand will continue to decline. COVID-19 pandemic exacerbates across the nation, numerous spots of business – small or huge – such as schools, offices, the New York stock exchange, theaters, wellness studios, document scanning companies, clothing and beauty stores have all been requested to temporarily shut down.

1. Management Tips for
Small Businesses
During the
COVID-19 Pandemic

2. The sudden halt in the economy due to Covid-19 had a
reverberating result on small businesses.
According to America’s SBDC's, a national study found that
69% of U.S. small businesses have already experienced a large drop in demand due to the
coronavirus pandemic and 60 percent believe demand will continue to decline.
Certain crisis management tips can help small businesses navigate through this crisis
and to also prepare to take advantage of recovery.

3. Update financial statements
Obtain a line of credit to support your business cash flowing
Have all necessary information with the employer
Assess any potential concerns related to supply chain
Reassure employees and clients
Evaluate the situation and remain calm
Track credible sources for accurate and timely information

4. Contact lenders to negotiate short-term relief
Be empathetic in reducing employee hours
Provide discount benefits to earn loyalty in the long run
Maintain a strong and positive communication channel with
customers
Stay compliant with the ADA and applicable state and
local laws
Level up customer service by having a remote / off-premise
service game plan

6. Main:
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Headquarters:
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Tulsa, OK 74133
Fax: (877) 835-5442
E-mail: info@managedoutsource.com
URL: www.managedoutsource.com