The Major Challenges Facing Businesses In 2021
Since March 2020, businesses around the world have faced a series of unprecedented challenges. Now it is starting to seem like there is light at the end of the tunnel, but there are still many upcoming problems that you need to be aware of.
Coronavirus Is Still Here
Monitor the latest Coronavirus developments to keep your business safe. Look for ways that you can continue to reassure anxious customers and clients that your business will continue to operate and that their safety is a priority. Follow the nationwide COVID-19 guidelines and any specific instructions from your state governor. Keep up to date with the news and advice on new variants such as Delta.
Health Is A Concern
Talk to your employees about how they have been coping with the recent resurgence of COVID-19. Create a safe space where they feel comfortable discussing issues such as mental health. Remember that the pandemic has pushed everyone to their limit and that you will need to be understanding and accommodating. Think about how you can continue to offer the same support that you did during lockdown. Tell your team that their health, mental and physical, is a priority for you and that the business does not function without them.
The Marketplace Is Still Unstable
Create a budget for the months ahead that accounts for any potential issues related to COVID-19. Avoid making big decisions or setting dates for your company that would be affected by third party issues, such as a temporary closure. Talk to a lawyer if you are struggling to keep your business afloat, and contact them before you have to ask, “How do I file for bankruptcy in Texas?” Make a cushion in your budget to give you breathing room for hard months.
Security Is An Issue
Invest in new cybersecurity measures to protect your finances and information. Talk to your employees about steps that everyone should be taking including two factor authentication and password generators. Bring in an IT provider or cybersecurity specialist to identify any obvious weaknesses in your current set-up. Prepare yourself to pay for good software instead of using a free one.
Climate Change Is Here To Stay
Look for ways that your business can start to cut down its carbon footprint. Start in the office by recycling as much waste as possible. Look for local organizations that could use old hardware or computers that you no longer need instead of giving it away. Read about the latest reports on how climate change will impact the US to be better informed. Offer your employees incentives to walk, cycle or use public transport to get to work instead of driving. Ask them for ideas on how they would like to make your business greener. Talk to your suppliers about steps that they are taking and pursue new partnerships if they are not satisfactory.