Many businesses are currently closed, either temporarily or permanently, because of the coronavirus pandemic. This change has been challenging for many small businesses, especially when it comes to finances. As the spread of the virus begins to slow down or become stagnant, state governors are announcing plans to begin loosening restrictions on social interaction, which may allow businesses to reopen.
How do you reboot a business for success?
If you are anticipating the ability to resume operations in the near future, you may wonder how to reopen a business successfully. Follow the tips below for the best results.
Follow government regulations.
When preparing to reopen your business, be sure you are following all of the guidelines issued by federal, state and local governments. For example, if the government requires social distancing or mandatory masks for anyone entering the store, make sure you follow all the recommended protocols. Do not reopen your business until it is legal to do so. Otherwise, you may face fines and other penalties.
Take advantage of financial support.
The government has offered several forms of financial support for small businesses that have been forced to suspend their operations because of the coronavirus. Taking advantage of these forms of support can help you compensate for your losses and reopen business on the right foot. If your company is new, you may also consider working with a business acceleration company to give your business the boost it needs.
Advertise your reopening.
Let your customers know that you are back in business by advertising on your website, on social media and in print form if possible. If there will be any changes to your operations, such as limits on the number of customers in your store, limited services available or a change in hours,, be sure to include this information in your advertisements. If you have a Google My Business page for your business, be sure to keep the information on there updated.
Develop a risk management plan.
If you are able to reopen your business after the most recent crisis, you are one of the more fortunate business owners in the country. Unfortunately, we never know when another similar situation will occur. For this reason, every business should develop a detailed risk management plan to minimize the negative impact of any future crisis.
Can I reopen a closed business?
Whether your business recently closed or has been closed for a while, you can successfully reopen it. The specific procedure you must follow when you restart your closed business will depend on the state in which the business is located. Restarting a closed business is similar to reopening a business with suspended operations. It is important to consider risk management and insurance protection. It is also necessary to make sure you have addressed the issues that led to the closure of your business originally, so you can be more successful in your next attempt.
Key Takeaways
- Many businesses are preparing to resume operations after being temporarily closed due to the coronavirus.
- When reopening your business, the key factors to keep in mind is: complying with government regulations, using financial support that is available to you, advertise your reopening, developing a risk management plan and investing in insurance.
- Any business can successfully re-open if it has been previously closed with the right plan in place
Marine Agency offers a variety of business insurance products to give your company the safeguards it needs. Contact us to find out how we can help you protect your business!
