Micro, small, and medium enterprises (MSMEs), which form 99.6% of registered establishments and contribute 62.6% to the Philippines' labor force, have directly felt the economic impacts of the COVID-19 global pandemic.
If you have an enterprise currently affected by COVID-19, here are some business continuity tips to keep in mind:
- Keep the workplace clean and disinfected.
- Utilize print materials such as posters and flyers to remind your employees to practice proper hygiene and sanitation.
- Put in place protective measures to ensure that employees know what to do if they exhibit respiratory illness symptoms.
- Keep a list of emergency hotlines and check the nearest hospitals your employees can go to.
- Adopt policies that help prevent the spread of COVID-19.
- Constantly keep in touch and check on your employees’ situation.
- Identify activities important to your business operations and the key personnel in charge to anticipate possible impacts.
- Ensure that you have a complete and updated list of employees’ emergency contact details.
- Keep a list of resources necessary for every employee and find ways to provide these identified resources.
- Check if the Work from Home policy applies to your business operations and allows flexibility in your employees’ work schedules.
Communicating with partners & suppliers
- Maintain open communication with your customers and suppliers to inform them of your business plans and let them know how they can still purchase goods or ask for your services.
- Maintain a contact list of alternative suppliers.
- Connect with other enterprise owners or business associations and look for ways of supporting one another.
Maximizing available technology
- Inform your customers about changes in your business operations.
- Utilize communication channels such as social media to share how COVID-19 has impacted your business to give key stakeholders (government agencies and private sector actors) ideas on how they can help.
- Be ready to answer questions or inquiries from your customers.
- Explore possible online solutions for marketing strategies and delivery of goods.
- Explore the possibility of having your goods delivered through fast courier delivery services.
Be in the know
- Keep track of the COVID-19 situation and monitor news and updates from the national government and your respective local government unit.
- Do your research: look for reliable online resources that can help your enterprise.
- Enroll in online courses and join webinars that help increase your business resilience and enable you to adapt to business disruptions more efficiently.
Monitoring your finances
- Check your cash flow and prepare for long-term disruption.
- Research on available economic packages and services from government agencies and private sector providers.
- Discuss with your business partners the possibility of having a grace period for your rental and utility fees.
- Stay informed on payment extension announcements from lifeline service providers and banking institutions.
- Explore e-commerce and other online banking solutions.
Also read: 3 easy loan options to get funding for your business
These are some tips to keep your business operations going despite the COVID-19 pandemic.
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