How Businesses Affected By The Pandemic Can Bounce Back

There are few industries or businesses that haven’t been hit hard over the past year by the COVID-19 pandemic. The need to maintain distance has caused many companies to shut their doors to customers. In 2020 alone, unemployment in the U.S. reached its highest levels since the Great Depression.    


While we are likely to experience issues as a result of the pandemic for some time, the tentative potential for a new normal appears to be in sight. Consumers and businesses alike are keen to explore how they can safely emerge from this crisis, and support one another as we move forward. This presents an important opportunity for businesses to assess how they can put themselves in the best position to recover from setbacks caused by this crisis.

Still, even with the rollout of a vaccine and hope for recovery, it’s not always easy for businesses to start a comeback. Let’s take a closer look at some key strategies and tools to employ in the weeks and months ahead. How can businesses best position themselves to keep surviving the tough times, and emerge from this pandemic as a success story?

Gain Support

A key element in bouncing back from the pandemic is dealing with the most immediate obstacles. For most businesses, this is likely to be a financial barrier. Many have been operating in survival mode for some time, and eking out the last of their saved funds. To push ahead and make growth plans, you need to discover sources of financing that can get you moving.  


Since the onset of the pandemic, there have been a few more funding options that have arisen for small businesses. The U.S. Small Business Administration (SBA) has initiated programs such as the Paycheck Protection Program alongside its traditional raft of loans to help businesses with recovery. Alongside these loans, it’s also worth exploring grant schemes that are operated by both the SBA and individual states. However, if you’re having difficulty qualifying for these schemes, you should look into limited lines of credit as a limited cash influx, and for suppliers and vendors.   


It’s important to remember, though, that suddenly having access to cash is not likely to ensure the revival of a business. The extent, use, and repayment of this additional financing needs to be subject to strict planning. Leaders need to demonstrate their intention to utilize funds to not only deal with the emergency but also use it for their next stage of recovery. These changes in operations, in turn, will ensure that new growth is sustainable. Making such plans is not only vital for the recovery of the business but can also help influence decision-makers for loans and grants.

Keep Communicating

It can be easy to become insular when dealing with a business problem — you’re trying to right the ship and this takes a lot of time and attention. However, the last thing consumers and staff want, particularly after a year of isolation, is for businesses to shut them out. To effectively bounce back from COVID-19, companies must be committed to a culture of communication.


This begins by addressing concerns. We are all acutely aware of how sanitary practices can impact our lives now, so you need to communicate to consumers how you plan to keep them safe, even in a post-pandemic world. Produce a dedicated page of your website that outlines not just the emergency measures you’ve adopted, but also how these and other improvements are likely to feature in your ongoing operations. Use this to highlight your concern for their safety, and to invite them back to engage with you. Whenever possible, use logos of agencies and sanitation services that you’ve partnered with to build trust.  


Many businesses and their customers have also leaned into online operations during the pandemic. One recent study found that online commerce experienced a rise in all industries by 6-10 percentage points. Its likely consumers will keep using it moving forward. Use your online channels — email newsletters, messaging services, social media — to make meaningful connections with existing and potential customers. Everyone has had a tough time, so stay empathetic. Respond to their messages and posts not just as a brand, but as a fellow human being. In addition to your scheduled marketing posts, make an effort to simply provide your followers with content they’ll enjoy or find useful.

Plan for the Future

This pandemic has taught all of us that we can’t always predict what issues are going to negatively affect our businesses. However, to bounce back from the pandemic, entrepreneurs can’t just focus on getting through the immediate struggle. It’s important to create a road map out of the darkness and toward success.


This could include:

●  A New Start

It’s a harsh truth, but there may come a point that business leaders must accept that this pandemic has beaten their particular enterprise. However, bankruptcy doesn’t ban you from business success in the future. Start by making a financial plan that restores your reputation after bankruptcy — rebuild your credit, keep up with your bills, and get your finances in order. Then you can plan a new venture, potentially with new partners, that learns from the problems of this pandemic, and builds toward success.

●  Agile Business Structure

One of the most prevalent issues in this pandemic is that businesses did not have the tools or practices at hand to adjust their businesses to suit the reality of COVID-19. Entrepreneurs should reassess the structure of their enterprises to understand where they can make processes more flexible and more maneuverable when issues occur. This could include a hybrid in-person and remote workforce, setting up backup supply chains, and even diversifying their service offerings.


Few businesses have gotten through the pandemic entirely unscathed. As the new normal is on the horizon, businesses should be able to bounce back by gaining support, taking an empathetic approach to communication, and engaging in future planning. While there still may be some tough times ahead, an honest and proactive approach can help us to transform even the worst-hit businesses.


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