Tips for Small Businesses in 2020

As the UK continues to battle the pandemic, the past few months’ pattern of reduced footfall on the high street will be slow to rectify. A survey recently conducted suggests that over half of Britons still feel uncomfortable when shopping, despite the relative threat of coronavirus transmission having improved. For the sake of the economy, however, shoppers will need to brave the high street once again, or at least transfer their purchasing habits online.

Within this crisis, the great danger lockdown has posed to small businesses has been especially important. Without the same budgets and commercial infrastructure available to large corporations, local shops, start-ups and small businesses have had to think differently to stay afloat, including experimenting with new marketing strategies to re-engage customers. For many, these moves have been successful and will likely remain in place as business models adapt to both the coronavirus and the wider societal shift to on-demand service. But there is certainly more that small businesses can do to navigate these unsettled economic waters.

Communication

Listening to your customers is always important, but especially at the moment. With lockdown meaning Britons have not until relatively recently been able to visit shops, or are still keeping away, it is up to businesses to reach out more and more. This has seen those hesitant small businesses increasingly make the jump online, or those already with an online presence invest more into digital marketing.

Along with enabling e-sales, as well as reducing physical contact, there are many other benefits for staying active online as a small business. Social media activity and electronic device usage have increased dramatically over the past months, and so online business coverage is bigger than ever. Boost your brand presence and keep in touch with your customers by exploring social media. Send out optimistic messages and emphasis a sense of normalcy; customers need to be reassured at the moment more than ever. Listen and learn from them; the same goes for your employees.

That said, do be transparent and manage people’s expectations as much as possible. Review events and warn your customers of supply issues and logistical delays. Be prepared to deal with success also; some small businesses have seen interest skyrocket and have had to disappoint customers from not being able to meet demand.

Finally, stay informed of current COVID-19 legislation and find the financial support currently being made available to small businesses. Check out Gov.UK to see what subsidies you are eligible for, or contact your local MP.

Pivot

Use this opportunity to take stock of your services and think about how your business can change. Whether it be logistics, offered products or payment methods, there are many avenues being explored currently that have not only dramatically improved previous business models, but will likely stay in place long after society returns to normal.

With deliveries, think about pavement pick-up and time-slot takeaways. See if you can offer more wares online and expand your video-call services.

Lastly, adopt business practices that keep cash flowing. Offer gift cards, vouchers, coupons and discounts, which also boost your brand awareness and offer future opportunities for growth. Likewise, emphasise postponements and credit over full-refunds.

Network

Do not measure your growth against other larger companies. Instead, look to explore potential partnerships with related businesses and review your commercial community; whether that be for job opportunities, sharing of facilities and expertise, or investment.

Invest in people especially. It is more expensive to re-train a new workforce than retain a old one, and your brand’s longevity will fare better with secure employees who are equally dependant on the business’s survival.

See what your business can do for the wider community too. Arrange events and charity drives to keep those who need assistance in your business’s orbit.

Health

Above all, look after your employees, your friends and family, and yourself. Make sure that essential PPE is in place and maintain a culture of good hygiene in the workplace. Be flexible with working at home and allow those who have to do so.

Get regular exercise and look into working out from home, from online videos for example. A healthy body and mind is important for staying positive and keeping focused.

For more information, see Gov.UK’s information on support for businesses affected by COVID-19.