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How to Protect Your Small Business Against COVID-19

By March 14, 2020 March 19th, 2020 Risk Management
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Protecting your Business against Coronavirus

You’ve probably received several emails, phone calls, and notifications from various businesses addressing the current health concerns brought on by the coronavirus aka COVID-19. The nation is buzzing with questions and even a little bit of panic. Part of our culture at SOGO is transparency and straight-forwardness, especially in a time of what some are calling a crisis. COVID-19 is not just affecting health and families: it’s also affecting small businesses, and we’re here to bring you some advice on dealing with the current situation. 

 

This ongoing public health outbreak is causing serious concern for those business owners who will especially feel the impact due to customers staying at home, spending extra cautiously, and focusing on anything but your small business. One of the best ways to minimize the time of panic is to “flatten the curve,” meaning doing everything we can as a society to lessen illnesses and lessen deaths caused by COVID-19. Making smart decisions for your employees and families now can help calm the nerves (and hopefully your bottom line) sooner rather than later. 

 

  • First and foremost, communicate transparently with your employees and customers about your business plan, and how you plan to combat the health scare with your resources.  Listen to CDC procedures. If you’re offering paid sick leave, communicate that clearly and efficiently in order to avoid having possibly-infected employees come to work and contaminate your business.  
  • Create reminders around the office to stay on top of common (but necessary) health and hygiene advice, including reminders to wash hands, but also reminders for more obscure things, like wiping down common areas with antibacterial wipes. Think about the breakroom microwave, refrigerator handle, bathroom handles, printer keys, keyboard, mobile phones, etc.  
  • You might be wary of letting employees work from home, but now is the perfect time to put your trust into gear and promote a work-from-home environment. There are plenty of ways to keep track of productivity, even while your employees are away, and you might be surprised at how grateful people are to be healthily working from home that you could even see an increase in productivity.  
  • Get on the line with other key decision-makers and make a financial plan for the coming months. Health crises can lead to cash flow disruptions, so have a plan on how to mitigate frivolous expenses (time to cancel the plant-pruning service if possible) and focus on need-based spending.  
  • Last, but definitely not least, call your SOGO insurance agent to talk about the next steps for your small business. The nation is dealing with the COVID-19 virus as quickly as it’s coming at us. We’re feeling proud of our employees and agents, especially in this tumultuous time, because during times like these, we are able to do what we do best. Get in contact with us (even if you’re working remotely!) so we can discuss how you can help your business for any situation.  
  • Don’t panic. We know it’s scary dealing with a health crisis while juggling the everyday stresses of owning a small business. You don’t have to panic when you have us on your side. Stay healthy, and stay smart, and let us know how we can help you deal. 

 

In case you missed it: With all the time you’ll be spending at home now (and potentially with a house full of kiddos now that school is being canceled), you’ll want to read our latest blog “Daylight Savings Time Means More Sunlight, But Now What?” We’ve got some advice for soaking up daylight while avoiding germs during the COVID-19 outbreak.  Contact your SOGO agent soon to discuss your future business insurance plans when you come back from a peaceful nature walk.