Right now, governments around the world are trying their best to combat the coronavirus spreading. Most of the countries end up choosing lockdown as the final solution to reduce the number of people getting infected from this deadly virus. Thus, the lockdown decision becomes business challenges for every company in the country.
Lockdown is indeed capable of limiting the people’s movement by closing access to and out of a country or a region. The lockdown halts public transports, shutting down businesses temporarily, and closing down the shopping center or tourist attraction.
Lockdown policy surely has its pros and cons, especially among business owners. Here are some business challenges that you will face during a lockdown, and how to overcome it:
People’s purchasing power decreases
The most noticeable change during the COVID-19 outbreak is the decrease in people’s purchasing power. With most of the shopping center are closed, people are reluctant to spend their money on non-essentials.
To overcome this business challenge, the first thing to do is to hold a promotion to attract loyal customers. Make it easy for your customers to shop online during the lockdown to maintain social distancing.
The supply of raw materials gets disrupted
With access being closed off during the lockdown, the raw materials supply will become scarce, especially among manufacturers. If the raw materials need are not met, the production can not run, and the company will start to lose money.
There are two things you can do to overcome this challenge. First, look for suppliers near you. The price will go up for sure, but that’s the best solution so far. Second, don’t forget to redo the reorder point calculation to anticipate the supply shortage.
Employee productivity decreases
One of the main problems of work from home policy is maintaining your employee’s productivity. More often than not, an employee that works from home is less productive compared to when working at the office. It happens due to a lack of surveillance from the managers.
Handling this problem is impossible if you still run your business manually. You need software to maintain employees’ productivity during the lockdown, for example, the work from home software from HashMicro. With software help, you can monitor the task you delegate to your employees.
Becomes dependant with technology
As we mentioned previously, running a business during work from home without any software will be difficult. Managing employee attendance, communication, and collaboration between divisions will be hard without any software. This situation will make us dependant on software.
The situation is unavoidable, but we recommend you to use affordable software and has complete features. Doing so will reduce your spending on software during the lockdown.
The business challenges during social distancing are harder than ever. As the business owner, we forced to think out of the box to make our business stays afloat and don’t lose any money in the process. Use any available resources or software to support your business during these trying times.