Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche


3 Ways Businesses are Staying Functional Throughout the Coronavirus Pandemic

The standard work life as the world has known it has been drastically shaken as a result of the coronavirus pandemic.

Out of necessity, businesses shut their doors, seemingly overnight, and were forced to find ways of conducting their work without having workers physically present in the offices. Through the use of modern technology and remote working capabilities, though, companies across the country were able to stay active and functional throughout the worst of the required lockdowns and shelter-in-place orders.

Some of these changes, in fact, are still in place even as government restrictions are slowly being lifted. At this point, many people are preferring to keep their distance wherever possible as the situation continues to progress. While such a mentality and overall situation has provided some seriously major challenges for business owners and entrepreneurs, the fact that companies have continued on is the result of hard work as well as assistance from the government.

Here are just three of the ways businesses have been able to stay functional throughout the coronavirus pandemic.

1. Government Assistance

There is no doubt about the fact that most businesses would not have been able to survive these unprecedented times without the financial assistance offered by the government. Programs like PPP Loan Forgiveness and the CARES Act have provided the means for businesses to continue to pay their employees even when they weren’t able to generate revenue.

By keeping employee salaries funded, companies were able to retain their workers, meaning that they didn’t have to go through the process of recruiting, hiring, and training new employees once restrictions started to lift.

2. Remote Working Capabilities

Throughout the better part of 2020 thus far, companies have been forced to find new and creative ways of staying functional outside of the traditional workplace setting.

With offices closed due to restrictions and government mandates, businesses began operating in a remote fashion. By keeping employees connected through remote software and with the rapid growth in popularity of the group video chat, employees have been able to do their jobs from home.

While there are certainly some industries that lend themselves to remote working better than others, most types of businesses were able to remain functional in this manner. Workers were able to keep in touch and participate in collaborations with coworkers in order to keep things going. It is even the opinion of some experts out there that this style of working is going to continue to be the norm even after the coronavirus pandemic has subsided.

3. They Used the Time Wisely

Lockdown and shelter-in-place restrictions left people with a lot of free time on their hands at home.

Many small business owners took the opportunity to evaluate the efficiency of their operations and make changes. In short, they were able to use the time that they had wisely. By making cuts in terms of spending and creating better plans for the future, many small businesses might even be looking to come back stronger than before.