Business In The Age Of Pandemics

Mar 24, 2020

No one could have predicted the literal and figurative landing of the coronavirus on the global population. Or what it would do to businesses, the community, the population.

Worldwide, roughly 133,000 cases of COVID-19 have been confirmed as of March 11, according to the World Health Organization.  Thus far, there have been 4,947 deaths. Experts predict there are many thousands more cases that have yet to be diagnosed. All of this has put the global economies of Asia, Europe, Australia, the US and the world in jeopardy. 

The silver lining is that Asia is on the rebound and they are getting back to normal. Sea ports, airports, businesses, bars and restaurants are open for business. But there is some concern there will be a boomerang effect in Asia now that many members of the population of China are returning home from Europe, North America and the Middle East. Causing a repeat of the economic downturn and mass sicknesses.

What to do in an age of Pandemics?

Focus and soldier on. It is so difficult to concentrate when the world seems to be pulling apart, but you must focus on your forward movement. What lies ahead for you? Write a To-Do list. Reach out to all your contacts and connect. Find out what they are doing and how you can help.

Update your Business Plan. Include an update on your crisis communications in that plan. And if you are closed and are going to reopen at some point, create a plan for reopening.  Talk to your communications in-house or agency to make sure your communications plan dovetails your business plan in real time. Our Miami PR firm has updated all of our clients’ crisis plans to include a section on pandemics. You don’t want to be reactive when you can be proactive.

Research SBA,Talk to Your Banker, Financial Advisor.The White House and Capitol Hill are working on multiple fronts to make sure the U.S. Small Business Administration has the ability to offer small business owners across the U.S. as much as $50 billion in loans to stay afloat during the widening economic shutdown.  Also check with your bank who may be able to help you weather this storm with a line of credit, a low interest loan or money out of your investment’s cash account.

Take Comfort Being in the Club. Everyone is in the same boat unless you are a cloud company, IT firm or mortgage broker. The U.S. is simply shutting down across all industries and we have to go with the flow. Otherwise, you’ll have high blood pressure, suffer a heart attack or worse.

As with any crisis, being prepared always helps. While it is almost impossible to plan for every scenario, COVID-19 reminds us how fragile we all are. And so, in the midst of an ever-evolving crises we are reminded to take a deep breath and smell the roses. We are resilient and we always find a way.