If you are a small business owner who is struggling right now, you can take some level of comfort in the fact that you are not alone. We have compiled a list of helpful resources to help you strategize through the difficulties brought on by the coronavirus pandemic.
- Explore new options for staying afloat. During this unprecedented time, you may need to make some unprecedented moves to survive. Look for new sources of funding, such as lines of credit or breaking into your emergency fund. Reach out to your vendors to see if they will work with you while you are struggling. Seek ways to adapt your services to the new times. Throughout this whole experience, consider how you can invest in the future safety and security of your organization. For more details, check out this helpful article from USA Today.
- Look for local grants and loans. Many new grant and loan resources have become available as a result of the coronavirus pandemic. From local governments to nonprofits to private citizens and more, consider doing some research to determine what might be available to you. As an example, check out this article detailing a new small business grant program in Fort Worth, Texas.
- Partner with the other small businesses in your area. Consider sharing resources or offering multi-business promotions. Expanding your professional network can be a big help during this difficult time. For more details, check out this article from Time.
- Invest in digital marketing. You do not need a big branding campaign to perform effective marketing. There are many cost-effective online solutions for getting the word out about your business. Consider building and leveraging a strong email subscriber list, using pay-per-click advertisements, offering discounts or price matching, and digging into content marketing. Take a look at this helpful article from USA Today for more details.
- Take advantage of new Google tools aimed at supporting small businesses. The company has released numerous updates to help small businesses better communicate and serve their customers. You can quickly update your new business hours, encourage the purchase of gift cards, and even solicit donations. For more details, check out this article from Tech Crunch.
- Reach out to your accounting advisor. Your accountant is much more than a number cruncher. They are a knowledgeable professional with extensive experience helping small businesses make the best of good times and bad times. Contact your CPA today for advice on weathering the current storm.