If you’re a business owner you need a plan to shield your business during the coronavirus pandemic. To keep your company healthy during the coronavirus pandemic and positioned well for success when it’s over, take advantage of these contingency and business planning tips.
Put health and safety first
If you’re a sole proprietor, prioritize your health first. Limit your travel and maximize home office communication and collaboration tools.
If you have employees, keep them informed of travel restrictions, government announcements, and offer them work from home options. If that’s not feasible and your business is considered essential, take steps to minimize virus transmission risk at your place of work. This includes social distancing, splitting shifts, and frequent sanitization.
It’s also wise to establish procedures for staff to report if they are feeling unwell, are absent, or if they suspect exposure to the coronavirus or infection.
Assess the impact on operations
What will happen to your business during this crisis? To help answer that question, run best-case and worst-case scenarios and develop contingency plans for each. Include timeframes in your assessment that consider the impacts of the pandemic if it becomes a six-month, one-year problem, or more (let’s hope that’s not the case).
For example, if critical personnel became sick or had to look after family members, how will your business accommodate these changes? Try to identify others who can step in and learn key tasks such as retirees, family members, or independent contractors and freelancers.