How local businesses can survive coronavirus restrictions

Small, local businesses all over the country have had to adapt the way that they run as a result of the coronavirus pandemic. The recent rise in cases due to an increase in variants, many businesses are again facing an uncertain future. For businesses that have struggled through the last few years, the news of yet more delays to an end of the restrictions can cause a great deal of stress. Understanding what you can do to help your business survive in these troubling times can be invaluable knowledge for any business owner.

Apply for Governmental Financial Aid

The Office for Budgetary Responsibility has predicted that the coronavirus pandemic will have caused the UK economy to shrink by 11.3%. This is the most significant decline that the UK has experienced in the last 300 years. To help businesses survive this difficult time, the government has announced a new set of support funds that South West businesses should be looking into.

If you are running a business in the South West in one of the following categories, retail, hospitality and leisure, then you might be eligible for financial support. Businesses that have a rateable value of up to £15,000 can receive £4,000. Businesses under a rateable value of £51,000 will receive £6,000, and those in excess of £51,000 will receive £9,000.

While these measures will not in themselves be enough, they can offer struggling businesses relief. However, to ensure that you are able to adapt and continue to run your business successfully, you need to implement further measures. The following ideas are designed to offer you some inspiration for how you can adapt your operations to survive restrictions.

Become Delivery Friendly

If you do not already have delivery measures in place, now is the time to adapt to delivery. For some businesses, it might take a little bit of creativity to adapt to the right delivery option. For example, if you run a crafts store, then you could create a knitting pattern, select all the supplies for it and deliver it as a bundle. Local restaurants could start offering delivery services specifically for people who are having to self-isolate at home.

Switching to offering delivery services take more than just sorting out the logistics. You will need to entice shoppers into ordering delivery from your store instead of a third party. It is likely that you will need to advertise your new delivery service to update your customer base. You can market your delivery service on your website and social media platforms.

Get Active in the Local Community

Getting more active in the local community can help you to gain support and expand your customer base. You might choose to partner with other local businesses or become more present at local events such as farmers markets.

Consumers have become increasingly aware of the support that small, local businesses need during this difficult time. Getting your name out there and meeting local people can be very beneficial as it helps you to gain the loyal customers that businesses need to survive. Returning customers spend, on average, ten times more per purchase than a first time customer. Therefore, it is useful for local businesses to focus on growing a loyal base of local customers rather than focusing on increasing one-time online purchases.

Host Virtual Events

Virtual events have become a very popular resource for consumers in the time of COVID-19. In fact, as businesses look to continue with the remote working model, even after all restrictions have been eased, virtual events are going to continue to be a popular resource.

When you are deciding what type of virtual event to host, you will need to consider your skillset, your business and your target market. You will need to have some experience or expertise in the topic of the event you are hosting to make sure the event is worthwhile. Choose a topic or niche that appeals to your target audience to ensure you are able to use the event as part of your conversion funnel.

Plan for Your Future

If you are experiencing a big slowdown in demand, this might be the perfect time to plan for your business future. Conducting market research and getting to know your target audience more deeply can be a very time-consuming process. Use the time that you have available to your advantage and plan future business operations. This will enable you to make better business decisions in the future.

Once you have properly formulated your plan for the future, you should then focus on creating a marketing campaign. You should try to generate a buzz around your upcoming plans online and on social media. This should help you to hit the ground running when normal operations are able to start again. Generating buzz about the future of your business can also bring a much-needed boost in morale.