Businesses have been affected by the global pandemic. Nearly 13,000 businesses were reported to have closed in Oregon early in the pandemic.
However, this trend did not last. In the three months since most businesses in the state closed, nearly 11,600 new businesses have opened, including those that had previously ceased their operations.
Businesses in Oregon have risen above the challenges the pandemic brought. Below, we’ll discuss how these resilient business owners managed to stay on the game despite the global pandemic.
Entrepreneurs Resort to Loans
Business owners know that loans are one of the things that can help their business stay afloat despite any challenges, including the COVID-19 pandemic. It provides them with the financial assistance they need to keep their business operating despite the low sales.
However, some businesses may not be eligible for a business loan. With these kinds of situations, businesses opt for alternative options, such as getting personal loans or acquiring a payday loan from various lenders, such as finance company CreditNinja.
A personal loan is a loan that you acquire as an individual and not as a company. It’ll be under your name, but the funds can be used for your business.
So, if you need financial assistance, consider taking out a loan from a lending company that can sympathize with you and help your business survive.
In addition to acquiring loans from private entities, you might also want to consider acquiring a COVID-19 small business loan offered by the government to small businesses.
Businesses Operate Online
If you’re not up to date, businesses can continue operating online and still thrive. Whether you’re in retail or offering services, why not pivot to online and operate your business remotely?
You can also let your worker work from home if the line of your business permits. Other businesses even opt to leave their brick-and-mortar store and offices and choose to work online. Online spaces not only let the business thrive, but it will also help you, the business owner, to save money on rent.
It’s what most businesses in Oregon have done over the past two years since the pandemic hit. And now, various companies thrive and continue operating. This setup is the new normal in the business world, so online businesses are expected to be around for a long time.
If you’re currently looking for how your business will thrive now and in the future, start establishing your business’s online presence.
They are Updated with the State’s Local Guidelines
Every state’s local guidelines are an always changing environment, and these changes will have a significant impact on your business no matter what industry you are in. It’s why entrepreneurs in Oregon ensure that they are always updated with any changes in their local guidelines, specifically about the COVID-19 pandemic.
Business owners ensure that their business follows the guidelines imposed by the local government. This way, they would know what they can and can’t do for their business according to these guidelines.
Being in a pandemic, entrepreneurs must understand their limitations and responsibilities to keep everyone safe. That would also help their businesses to survive this challenge.
Also, staying updated about your local government’s guidelines, especially for local businesses, will keep you in the loop when financial assistance from the government becomes available for you.
Entrepreneurs Stay in Touch with Their Customers
Business owners in Oregon realize now more than ever that their customers are their best assets. Each customer has become highly valuable for entrepreneurs as they are the ones who kept the businesses alive.
Because of this, they learned how to value the relationship they established with their existing customers and take time to nourish it. It’s their way of ensuring that their customers will continue supporting their company amidst the pandemic.
One way entrepreneurs improve their relationships with their customers is by staying in touch with them. They show how they care and value their customers, especially during the current health crisis we’re facing.
Entrepreneurs even offer discounts to their customers and keep them updated online. They keep in touch with the customers via email, social media, and their website. They even share information on how their customers can overcome the difficulties presented by the pandemic.
Entrepreneurs Review Their Employees
The employee’s payroll is the top expense a business has. Because of this, entrepreneurs ensure that the money they allocate for their staff’s salary is worth it. Business owners review their staff, whether it’s during normal days or when problems arise.
Entrepreneurs do this to ensure that they have the right people working for their business. They often get rid of those who are performing poorly over time.
Follow How Oregon Businesses Handles the Pandemic
So, if you’re an entrepreneur anywhere in the world, you might want to make Oregon businesses a model when operating your company amidst the pandemic. Remember that nothing is impossible as long as you’re determined to keep your businesses thriving.