If you are a small business owner you will most likely be in lockdown and have time on your hands: you can use this constructively by creating a business plan in preparation for the lockdown ending and you being able to get your business up and running again.
This business plan could include thoughts on how-
· you could reduce unnecessary costs;
· how you could manage your business administration entirely online;
· how you should restructure your business;
· how you can become more efficient and agile;
· how you should focus solely on your core business.
Thinking about these issues will help you, when the right opportunity presents itself, to move quickly and cost-effectively to make sure your business will recover.
Looking at restructuring your business, you should consider the following areas-
Reduced costs of administration, this can be achieved by outsourcing some functions like Accountancy, HR and Health & Safety.
Re-evaluating job roles, you can look at all existing job roles within your company and you could change or amalgamate some roles again to help save costs.
You should seek advice from an Employment Law expert before changing any terms and conditions of employment for any employee.
If you need any advice or would like to discuss this further please call us on 07375 097443 or e-mail us on firstname.lastname@example.org