With BDC predicting a global economic recession in 2020 as a result of the COVID-19 pandemic, many businesses are wondering how to protect themselves through these uncertain times. There are two distinct phases that we need to consider when planning for the continuity of our business through the pandemic: scaling back and scaling up. In this post, we’re going to focus mostly on the scaling back phase but there are some important notes about the scaling-up phase in the final sections.
You might even consider taking a short course to improve your awareness of what a pandemic really is and the safety considerations that you must take.
More information about Canada’s COVID-19 Economic Response Plan can be found here.
By now it should be evident that our goal in times of uncertainty is to create certainty. Understand the landscape. Plan for different scenarios. Be safe and take care of your neighbours.
I hope that this has been helpful to you. If you have more ideas to help our fellow SMEs survive the ensuing economic depression, please share them in the comments or by emailing email@example.com
Stay safe. Stay home.
Thomas Brown is an entrepreneur and a numbers-driven digital marketing expert with more than ten years of industry expertise helping companies scale revenue, optimize sales and marketing processes, and improve productivity. Thomas is one of three co-founders of BuzzMasters, a company which helps businesses use technology to build meaningful (and profitable) relationships with their customers. With his ventures in Digital Marketing, Thomas is helping clients cut through the digital clutter to conquer their online niche.
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