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It is more critical than ever nowadays to support small businesses. It is already a struggle for many small businesses to maintain a customer base and gain a significant level of profits (remember them?). Furthermore, the unexpected and unforeseen events that affect the economy is another dreadful challenge many of these companies face on Main St.
With everything being at a halt for over a month now, businesses are severely hurt. Many of these companies had a significant loss in business due to being locked down and under house arrest.
On the other hand, many of these companies were able to make some sales by delivering their customers’ orders at their homes. Other companies were able to remotely handle their office jobs at home. There were also some companies that were able to consult with their clients over the phone or virtually through conference calls.
These strategies helped these businesses but in limited ways. And as a result, thus far, these companies still endured significant losses.
Seven Ways to Support Small Businesses
Unfortunately, we can’t look to the government to fix these issues they created. Ultimately the grants and loans will support the banks and big corporations while small business owners get hung out to dry. With these issues, there is very little relief for small businesses. We all have our part to play to support small businesses which includes shopping local and avoiding big box stores.
The following includes seven ways to support these local businesses:
By Offering Deals for a Certain Period of Time
One way to assist with these companies getting back on their feet is by offering them deals for a certain period of time. This will truly be appreciated especially if these companies were already your customers. It shows that you care, and you treasure them for being loyal customers.
On the other hand, you can gain new customers by showing them that you care. They will also be able to see how your products/services can be beneficial for their organization. And whether this is return customers or new customers, you can arrange for them to have a higher percentage discount for 90 to 180 days, for instance.
Obtaining More Credit or an Extended Business Loan
Another thing you can do is to allow your existing business customers to have more credit or an extended business loan. For instance, if they have some equipment on credit with your organization, like a copier, office furniture, or a restaurant/store cooler, you can allow them to have more credit, an extended business loan, or even more time to pay off what they’ve gotten on credit from your company.
Providing Free Office Space for a Period of Time
Many shared space offices and the like should offer free office space to their existing and possibly new customers for a month or two. With the government reaching out to many businesses, many of these office spaces can help in this regard.
There may also be a way for these types of companies to expand this service longer than a month or two. The government is looking at more ways to help with matters concerning rent but the longer it takes, the more businesses will close.
Offering More Stations/Products for Hand Sanitizing, Disinfecting Wipes, and Vitamin C Drinks/Products to Employees
Even though more areas throughout the country are reopening after the lockdown, there is still a great possibility of this pandemic reoccurring. Thus, there is no better way than to ensure employees at these businesses have more protective measures against any possible outbreak of the Coronavirus. And so, companies that provide these services can offer more to their business customers for free. These services could have little to no charge for at least a few months.
There should also be medical professionals partnering up with other relatable companies. With these partnerships, they can make sure local organizations have more disinfecting stations and hand sanitizers. Also, they should arrange for medical professionals to go around and educate employees at a local business. Issuing out pamphlets concerning these and other protective measures, such as social distancing, to these local businesses is also very important.
More importantly, everyone should be encourage to build up their immune system by eating healthy food, taking exercise, taking cold showers, getting enough sleep and reducing the amount of alcohol and tobacco they consume. You can’t be into financial recovery without not putting safety and health first.
We are Offering SMEs a CRO Audit (Conversion Rate Optimization) for Free
In doing this, we will help website owner convert more website visitors to paying customers. We are doing this so small business owners can strategize accordingly without worrying about paying an expensive fee.
Big Companies can Offer Them Big Discount Items That they Constantly Buy from them
These include companies, like Staples, Office Depot, and Costco. They should offer their local business clients items that they buy from them for big discounts for three to six months to help them get back on their feet.
Waiving Possible Late Fees and Interest Rates for a While
Our hard-working, local businesses shouldn’t be penalized for making late payments, partial payments, and the like because the government overreaction to the pandemic was out of their control. So, to show that you are in full support of them, their vendors and creditors should eliminate the accumulation of late fees and interest rates for a while.
When supporting SMEs, this will go a long way. Not only will they appreciate you for giving back, but they will also be more prompted to continue being a loyal customer. They will more likely refer you to other companies that are not competitors but companies of other industries.
And when it comes to new customers, they will greatly appreciate your assistance. They will have a chance to test how good your products and services are. And with all of this, you are more likely to keep them as customers. They are also more likely to spread the word to others.
It’s no doubt that helping local businesses will go a long way on different levels. You will eventually gain many rewards from your great support, and you can right this support off as a business expense on your taxes. It will be a win-win situation for everyone even though you may not see it in the beginning.
To make sure you can effectively support a local small business or to help your business after the lockdown is over, contact us for a free CRO Audit today. Here at Blend, we provide local and family businesses like yours a free CRO AUDIT that will help you convert more visitors to your site to paying customers. So, contact us today. We are more than happy to assist you.
7 Ways to Support Small Businesses After the Lockdown