The next couple of months will be telling ones. We’re not saying a lockdown is inevitable, but a lot of communities have spent the past week or so escalating their precautionary levels and this article will give you some advice for overcoming slower business times with a potential shelter in place order.
Ditch Your Space
We’re not making any friends with landlords here but there are some businesses that just don’t require storefronts anymore. One way to survive is to eliminate your biggest expenses, and for most, rent (or mortgage on a building) ranks right up there at the top of the list.
Is your business the type that can function without a physical space? What are you giving up? A survey by website provider BlueHost in August 2020 found that 48% of business owners surveyed said they saw no reason for a physical space in the future.… Read the rest