Helping Small Businesses During COVID-19

COVID-19’s scope is enormous and its economic impact is dire. It is up to us as fellow humans to do what we can to help COVID-19 affected small businesses. The rates of unemployment have skyrocketed as companies are forced to close down their doors for public health purposes since COVID-19 has become a full-blown pandemic.  It is definitely a difficult time for small business owners in particular, who have far fewer and smaller resources.  There are several ways we can all do our part to help out small businesses during the Covid-19 pandemic.

1. Patronizing local diners and restaurants

After the COVID-19 outbreak started, the restaurant industry has experienced the most substantial revenue and employment losses, more than any other sector in the country.

According to the National Restaurant Association, ”Since March 1, the industry has lost more than 3 million jobs and $25 billion in sales, and roughly 50% of restaurant operators anticipate having to lay off more people in April.”

Restaurants typically make just a small sum of money from orders from take out or delivery.  But with dine-in temporarily restricted in most places,  take-out and delivery have become the primary source of income for most restaurants.  Although you might finally have time to prepare your own meals due to the quarantine,  remember your favorite restaurants’ may still be available and may be desperate for your business. Consider foregoing cooking a few times a week if you can afford it, and opt to order food from local restaurants instead.

2. Offer your knowledge or expertise

You can give free consultations to small businesses affected by the COVID-19 if you are a company focused on supporting other businesses.

Just a half an hour a day or however much time you have to spare can make a huge impact on small business. You can host webinars for multiple small businesses or simply work with individuals on a one-on-one basis. Use your experience and skill set to show them how to create more leads, advertise their business on social media, or whatever your business is most qualified to deliver.

3. Continue to pay for what you can

A lot of small businesses or startups have seen a decrease in the number of subscriptions within their businesses due to them not being able to keep up with the demand or not being able to work at all during the pandemic. Subscriptions such as local gym memberships, food and grocery delivery services and others have suffered from this. If you have the funds available, consider keeping your memberships with these companies even if you aren’t able to fully utilize their services right now.

4. Encourage your network to buy from small businesses

Sometimes all it takes is word of mouth or mindful suggestion to get your friends, family or colleagues to join in on helping small businesses stay afloat. If you are in the position to recommend some of your favorite small businesses, doing so can keep their companies cash flow coming and could have a positive impact on their business even after the pandemic.

In conclusion, doing your part in helping small businesses can be very fulfilling and rewarding. It is up to us as individuals to collectively help make a positive impact in our communities by fostering small business growth.