Health Insurance, Home Insurance, Life Insurance

Tips for Managing Your Small Business during Covid-19

The world is in an extremely fragile position. We are in the midst of a pandemic, a situation we never faced before. Such challenging times during which people are encouraged to stay home – in order to stay safe – have lead to severe difficulties in terms of managing small scale businesses. 

In these testing and trying times, we don’t know whether or not what we are doing to sustain is right or wrong.  However, below is a list of tips that could be helpful in terms of managing small enterprises during the pandemic. 

1. Following government guidelines and recommendations: 

The health department has chalked out a number of SOPs pertaining to the well being of people in terms of them staying healthy while going out. They along with the government have encouraged employees who are showing any symptoms or are sick to stay at home, to be constantly clean and sanitized, and lastly, to try working from home when possible in order to decrease the risk of contracting the virus.

Furthermore, they also go on to recommend that employees stay flexible with their business plans so as to adapt easily to any sudden and abrupt changes in the environment. 

2. Effective internal and external communication:

For retail businesses and CSR firms, which require strong communication with customers it is essential to keep in touch with the clientele. Social media, the most powerful medium can be used effectively to convey the precautions being taken by the business and policies and timings of operation and other information to keep them updated. 

Also, businesses should adapt to the situation and adopt new ways that would be effective and convenient for them and the clients. 

3. Be prepared for a shortage in supply:

Businesses should not wait for the time when their inventory and supply isn’t enough. Keep in touch with suppliers from before to be updated with the situation in order to act accordingly. 

4. Research on loans:

If your business is in an extremely rough patch then you must look at and be aware of other ways through which you can attain relief. Businesses can look for any bank loans or other assistance being provided by their governments.

5. Seek counsel:

In the case of being faced with severe hardships, businesses should seek support from local counsels including non-profit organizations. These organizations can provide them with legal and contractual services for their businesses. Also, businesses should not hesitate in reaching out as several companies work pro-bono without charging a single penny. 

6. Must seek support from local organizations: 

Due to the pressure on large and federal organizations, local assistance would be an easier option. Find businesses that fall under the same community realm as yours and collaborate and gain assistance from them.

Rest assured, insurance companies in Pakistan, especially us at Cometinsure are always present to help you out with your insurance problems, be it your personal insurance, medical insurance, or life insurance during this crisis. We will always provide you with the details and relevant information and will be committed to supporting you fully during this journey.