7 Smart Strategies to Help Small Businesses Survive the Global Pandemic

NCMA

7 Smart Strategies to Help Small Businesses Survive the Global Pandemic

By Wesley Cherisien

How COVID-19 is affecting small businesses

Collapsing demand and access to liquidity
Managing the work environment for safety and efficacy
Disruption in supply chain and managing inventory
The emotional well-being of employers and employees

7 smart strategies to keep your business running

With consumer spending forecast to drop significantly due to the effects of COVID-19, small businesses will need to find innovative ways to mitigate economic impact.

is no secret that small businesses power the U.S. economy. These companies create nearly 2 million jobs annually, employ up to 47% of the entire workforce, and contributing 44% of the U.S. GDP. As the world faces the greatest health challenge ever seen, small businesses are encountering inconceivable economic catastrophe. To weather the times, these businesses will need to utilize smart operating strategies and demonstrate true resilience.

How COVID-19 is affecting small businesses

Bankruptcies rose 74% during the 2009 recession, leaving the vast…

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