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Business Planning Process Planning & Strategy

Protecting Your Business Against a Future Crisis

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Businesses all over the world have been dealt a blow by the COVID-19 pandemic. With many forced to adapt quickly or shut down altogether, there’s a difficult time ahead for the global economy.

With businesses preparing to reopen and find some semblance of normal, it’s important to put measures in place should your business face a similar crisis in the future.

Do you think your business is ready to return to normal? Here’s how you can protect your business against a future crisis.

Put Health and Safety First

The health and safety of your employees and clients/customers should be the top priority for your business. While you should already have health and safety measures in place, now would be a good time to renew them – especially where sickness is concerned. It will also help to order protective equipment should you need it in the future. You can order scrubs from Landau, as well as gloves and other protective equipment, keeping it in storage until needed. These kinds of measures will mean your business can continue to run in a crisis, and not be caught short when critical supplies become scarce.

Make Remote Working Effective

Many businesses have had to implement remote working, with most experiencing positive results. For many companies, employees are working harder and faster, and despite lockdown have been able to enjoy a better work/life balance. Allowing your employees to work more flexibly in the future will benefit you as a business, and could help you save on your running costs too. There are some key HR lessons to learn from COVID-19, but adopting a more flexible way of working could serve everyone’s best interests if it’s actioned effectively.

Rethink Your Investments

Does your business regularly invest? Or have a contingency fund in case things go wrong? Many businesses have had to make job cuts in recent months to cope with the pandemic, but if there are things you can do to avoid this in future, then it’s worth doing. It could be that your business needs to rethink its investments or start investing in the first place to help get some savings behind you, should you need them to keep the business afloat.

Improve Your Online Offering

Another way that businesses have had to adapt quickly is by enhancing their online offering. Restaurants are selling ‘meal kits’ to recreate dishes at home, while other businesses are having to get creative with what they sell – with homeware and loungewear sales increasing during the pandemic. Think of new products and services you can offer online should you need to adapt your business quickly, it will help add another strand to your existing offering, but it will also help you put a plan in place should you need to take your business online-only.

There have been many key lessons to learn during the coronavirus pandemic, but nobody is going to get things right immediately. While doing what’s best for your business, you can put plans in place ready to face any future challenges and help maintain your business’ success.

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