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How the Coronavirus Can Result in Positive Change for Small Business

March 16, 2020

The following article published in The Hill publication includes some very interesting insight in how small businesses can change for the better as a result of Coronavirus.

By Gene Marks, 3/11/2020 - Does it sound crazy that business owners should be grateful for the coronavirus? I don't think so. In fact, I think the ultimate outcome of this very bad experience will be a very good thing for all businesses, big and small...

I can't help but think of the reasons why all of this is good news in the long term for businesses, both big and small. Why? Because at some point the virus will have run its course. Things will get back to normal. The markets, and the economy, will have recovered. And many of us who run businesses will be smarter – much smarter – because of the 2020 coronavirus experience. How so?

For starters, after so many years of pushback, businesses will finally – finally! – embrace remote working as a productive and viable way to manage their workforce. Many employees, particularly younger employees, have been demanding the opportunity to work from home or be more mobile. Some employers have responded but a large number of my clients have resisted the change. But the fear of infection is forcing these business owners to reconsider their positions and allow their employees to work from home. And what will be the result?

Those same managers will kick themselves for not doing this ten years ago. As long as the approach is balanced, every business can allow most of their employees to have some form of remote working arrangement. The technology is mature. People can be trusted. Work will get done. And both employer and worker will find their lifestyles changed permanently for the better because of it. So, thanks coronavirus for finally helping us to realize this.

To view the full article please click here.

How can we support our local businesses during these turbulent times? See this article for some great ideas: https://www.bankrate.com/finance/credit-cards/how-you-can-help-small-businesses-impacted-by-covid19/