Advice for Entrepreneurs During the COVID-19 Economic Slowdown

Advice for Entrepreneurs Jonathan Bennion-Pedley

Business

Advice for Entrepreneurs During the COVID-19 Economic Slowdown The COVID-19 pandemic has had and continues to have a drastic effect on the economy and on businesses everywhere. While no-one knows how long it will take to find a vaccine or get the virus under control, business owners may be struggling to decide what steps to take for the best.

Communicating with Employees

Investing in Technology

Entrepreneurs should be communicating with

Technology that helps to build the brand and

employees at every stage, ensuring they feel val-

add value to customers will help keep the busi-

ued and maintaining these vital relationships to

ness going, while also optimising systems and

keep people on board and ready to dive in once

processes.

the bad times come to an end.

Investing in Training

Be Fair to Suppliers Businesses will need loyal and reliable suppliers

With so many businesses losing revenue, there

once the pandemic is over, so paying them on

may not be money for wage increases for some

time and maintaining good relationships is key.

time. Business owners can instead invest in training and development programmes to benefit the business and its employees.

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Jonathan Bennion-Pedley

You can find advice for investors during the pandemic by visiting the blog of Jonathan Bennion-Pedley.