We can get through the COVID-19 together!
We're here to help...in extraordinary times we need to look for extraordinary solutions.
We are all going through uncharted territory with understanding the potential impact of the Coronavirus. It goes without saying that the health of the nation, our friends and family is of utmost importance but so are our businesses and the economy.
We all know that we need to look after each other and, as a Business Community, we can all help each other too.
It is going to effect businesses but we need to explore every angle and think outside the box. This means thinking of new ways to deliver a service or sell a product, as well as, future proofing our business and its existence.
We will come through this, and it is temporary, but in extraordinary times we need to look for extraordinary solutions.
We need to spend more time ON our businesses not just IN them.
Below we have outlined some top tips to get you started:
- Getting support & advice
- Marketing your Business
- Networking
- Access Financial Advice
1. GETTING SUPPORT & ADVICE
My team and I are here to help support you as much as we can so we all get through this together. WE are here to promote you - as you potentially change your model in how you do things, we want to share it – whatever it is. If you would like to bounce ideas off us, we're happy to help. The benefits of being part of a group is that we can all help each other and generate ideas for our businesses.
2. MARKETING YOUR BUSINESS
Over the next few weeks, there will be lots of people at home bored as they self-isolate so keeping a high profile online and through social media is going to be key.
So think about some options for delivering your services differently:
- Health and Wellness businesses offering support to clients via video to homes
- Changing opening times for the elderly
- Offering an at-home service
- Picking up cars for servicing
- Doing a meal delivery service
- Mothers' Day - offering items for takeaway/collection (i.e. afternoon tea in a box)
- Pre-ordered packs from butchers
- Spacing out chairs in hairdressers- having set days/times for the elderly
- Products you sell online you want to promote
- Special offers
- Supporting your local community
We want to know about it and we will promote it for you - please email tauntonandbridgwater@thebestof.co.uk
Your social media output is going to be key, so start thinking about posting a lot more. Maybe doing Facebook videos of your products in your business and getting people to buy over the phone. We will be looking at doing videos to tell local people what is available and promoting you as much as possible.
Your online presence is more important than ever - take this time to look at your online listings that could be updated to help SEO ie. Google My Business, your BOW Feature. Write blogs to show you are the local expert. If you don’t write blogs, why not contact us for help?
3. NETWORKING
Due to the Government guidelines, we will unfortunately have to cancel our monthly breakfast Club. We will still need to give the opportunity for businesses to interact with each other and promote their services, as well as a platform where we can all share ideas during these interesting times.
We will set aside Monday from 10am -12 noon until further notice to receive calls on 07592602647 so that you can tell us information you want shared to other businesses & consumers. We will then email & use all social media platforms to promote you. If our phone line is busy,then drop us an email on tauntonandbridgwater@thebestof.co.uk with your information for us.
4. ACCESSING FINANCIAL SUPPORT
If your business is likely to suffer financially there are a number of initiatives announced in the Budget. But also many banks are also trying to help in giving deferment of mortgage payments and cancellation fees – Call your bank and find out.
In the recent Budget (11 March 2020) the Chancellor announced details of support for public services, individuals and businesses to ensure the impact of COVID-19 is minimised. A new Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will enable businesses with a turnover of no more than £41 million to apply for a loan of up to £1.2 million, with the government covering up to 80% of any losses with no fees. This will unlock up to £1 billion pounds to protect and support small businesses.
Keep an eye on this link below as it will be updated with details of how you can apply for this loan:
For businesses with fewer than 250 employees, the cost of providing 14 days of statutory sick pay per employee will be refunded by the government in full. This will provide 2 million businesses with up to £2 billion to cover the costs of large-scale sick leave.
Why not contact your accountant? A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Through this, businesses may be able to agree to a bespoke Time to Pay arrangement. If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.
There will be a £3,000 cash grant to 700,000 of our smallest businesses, delivered by Local Authorities, and worth a total of £2 billion. Finally, the government is temporarily increasing the business rates retail discount in England to 100% for 2020-21 for properties below £51,000 rateable value.
I have spoken with Andrew Clayton at Walsall Council in the Employment Growth team who are working on the mechanics of this at the moment, he will contact us with information as soon as finalised of which we will send out to you.
As we write this, we understand that there is discussion about further financial support yet to be announced.
We will keep you all updated on any information we receive. We are a business community and we all need to look out for each other, we can:
- Look out for work opportunities for fellow members
- Share their businesses social media posts or blogs
- Share ideas of things you have done in your business that have worked well that others can emulate on our facebook group
- Shop local as much as you can
- Support them as much as you can
- Ask them if they're ok - like really ok - a problem shared is a problem halved
- Join in our online meetings to support each other
- And finally, keep a level head.
My advice would be careful on where you get your news and restrict it. Trying to follow every twist and turn on the news might be tempting but it can be counterproductive and lead to panic.
Remember the people producing the news are ‘catastrophists’, driven by viewing figures, clicks and shares. As Clare Foges says in The Times today “Endlessly checking the news to release our anxiety is like glugging salt water to relieve our thirst; initially comforting, but ultimately massively counterproductive.
