Small businesses discuss strategies to stay afloat amid Coronavirus panic

News

Greenville, S.C. (WSPA)

Small businesses are feeling the pinch as health officials recommend canceling events with large groups of people.

Local insurance broker Guy Furay said customers are asking him about Coronavirus testing, and how much it could cost them. He said he urges customers to be aware of free tests and that they may only be necessary for high risk individuals.

Andy Moorman a local attorney said he’s advising his staff on working remotely and with safety precautions to remain healthy.

Tammy Johnson of High Spirits Hospitality said customers are cancelling events constantly but no client is as upset as a bride before their wedding.
Johnson recommends having a small ceremony and postponing a larger ceremony for later in the year.
Johnson explained that supporting a small business can be as easy as ordering from a restaurant and tipping when you pick up the takeout or if you have a brick and mortar store, post items online for viewers to purchase.
Johnson said her main concern is making sure employees are informed and healthy.

 

“Don’t leave your employees in the dark and let them know what you’re doing as a business to take appropriate precautions. Let them know how their schedules might shift as well as make sure they are saving money. Give them that peace of mind that you are there to support them even if you cannot support them financially at least offering them food assistance, childcare, things like that that might make a big difference,” Johnson said.

Old Cigar Warehouse will host a blood drive on Wednesday from 10-3 more at highspiritshospitality.com/stronger

High Spirits Hospitality also shared this information from the Small Business Development Center below.

The SC Small Business Development Center recently assembled a program to share best practices to minimize the impact of business disruption events such as cyber crime, weather events, natural disasters, and other possible closures. With the delay of that program due to the COVID-19 outbreak, the SC SBDC office is sharing some of the materials that will be expanded upon when the program is rescheduled for August.

Financial Preparedness

  • Maintain at least 3 years of financial history in a secure manner (Income Statement, Balance Sheet, Banking Statements, Tax Returns etc.)
  • Maintain at least an 18 month cash flow projection at all times

Operational Preparedness

  • Know what operations are critical and which ones can be suspended. Have back up process in place for all critical operations.
  • Keep an updated personnel list with a process (with redundancies) for contacting all employees in an efficient manner
  • Maintain processes to complete work should technology fail
  • Build out secondary supply chain solutions should primary ones be unavailable
  • Work with a PR professional to craft responses for likely disruptions

A Disaster Recovery Guide is available through your local SC Small Business Development Center to help you assemble a preparedness plan and maintain important records should you need them for recovery.

The SBA.gov website will post updates related to the availability of SBA Disaster loans and how to apply should they become available.

The SBDC values the health and safety of our employees and clients, and are carefully monitoring the impact of COVID-19. The SC SBDC is currently open for business and available to provide in-person and online business consulting including preparation and response to COVID-19. Training and events may be postponed.

Twenty-one South Carolina Small Business Development Centers (SC SBDC) across the state offer individual, confidential business consulting at no cost. Highly-trained consultants assist both existing and startup companies. Consultants provide a variety of services, including advisement on business plans, fiscal and operations management, financing options, marketing strategies, human resources and much more.  Centers conduct affordable education workshops and provide referrals to useful business resources. Specialized services include government contracting, exporting, technology commercialization, veterans business assistance and minority outreach. Visit www.SCSBDC.com to find a center and make an appointment. Follow small business news at www.facebook.com/SCSBDC and @SCSBDC.

 

Preventing the Spread of COVID-19

In an overabundance of caution, your Greenville Area SBDC is more than happy to accommodate any client via virtual or telephone consultation.   Please help to prevent the spread of COVID-19 by consistently practicing simple, everyday non-pharmaceutical interventions (NPIs):

  • Stay home when you are sick or avoid close contact with people who are sick
  • Cover coughs and sneezes
  • Wash hands with soap and water or use hand sanitizer
  • Ensure regular cleaning of frequently touched surfaces and objects
  • Familiarize yourself with the list of approved disinfectants for COVID-19.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Mascot Challenge
High School RedZone
Star of the Week
Black and Blue Kickoff Live
Pro Football Challenge
Destination Vacation
Find A Job
Greenville Triumph Game
wspa news app free for download choose your store below
download the wspa news app from the apple app store
download the wspa news app from the google play store