This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2020/05/06/what-small-businesses-can-do-to-survive-and-thrive-during-the-pandemic/
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by Itamar Gero, founder and CEO of SEOReseller.com
Uncertainty and fear have been going through people’s minds as the pandemic continues to affect most aspects of human life around the world. The US economy has not been immune to this. In fact, the last few weeks have been particularly devastating for the market.
According to ABC News, another 6.6 million Americans filed for unemployment last week, adding to the approximately 10 million people who have already filed for benefits amid the outbreak.
Maybe because they have often been called the backbone of the American economy, small businesses are among those with the heaviest burdens to bear. According to a report by the US Chamber of Commerce released on April 3, one in four small businesses has already temporarily closed, while two in five of those remaining open also plan to shut down temporarily in the next couple of weeks. These numbers are disheartening considering that there were 30.7 million of these enterprises in the country in 2019.
The sad reality is, some of these small businesses may never open their doors again.
But all is not lost. If you own or manage a small business, there are still things you can do now to survive, and maybe even thrive, through these tough times and in the future. The important thing is you start today.
A Change in Attitude.
The odds were always difficult for small businesses even before the pandemic. According to the numbers published by the Small Business Administration in 2018, 20% of these enterprises fail in their first year. Only around half survive through their fifth anniversaries. And only one in three make it to their 10th year. Risk is a big part of entrepreneurship and the current struggle just represents a new type of risk, one that is unprecedented … Read More
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