The world will never be the same again. This string of heart-racing, anxiety-intensifying buzzwords has been repeated endlessly in the news and spread across social media. Are they true? Most likely. Does it mean that businesses will not be able to survive and adapt? Not in the slightest.
The "new normal" is coming - but that doesn't mean that you won’t be able to see your business through it. You can survive and perhaps even thrive. Businesses can take the lessons learned during these difficult times and use them to succeed going forward. Ultimately, up and coming companies can not only adapt to, but also benefit from, the economic and business changes of a post-coronavirus world.
Several key trends have already been observed that will - despite the fact that they initially emerged due to the COVID-19 situation - likely persist following the reopening of businesses. These include:
Businesses that are successfully able to incorporate these new trends into their business models will have the greatest chance of coming out unscathed on the other side of the global crisis. In particular, startups and up and coming small businesses that adopt a distancing-friendly growth plan will attract the attention of post-COVID-19 customers.
Concerns are widespread regarding a potential lack of funding available for startups and small businesses even after the state of emergency concludes. Larger businesses, investors, and financial institutions will be suffering from a lack of capital, with smaller, less financially liquid companies even more so. There may be less money available to invest, at least in the short term.
Preparing and readying your business to profit in a post-pandemic marketplace will alleviate these concerns. Focus on potentially profitable investment opportunities such as the health and sanitation industries, distancing-friendly technologies, and domestic manufacturing, and delivery of essential goods. A good first step is to consult with a business attorney. They can help you answer key questions such as:
It is possible that economic growth and success will not come to you immediately. You may be plagued with issues such as lack of resources, lack of capital, and lack of financial security. Navigating a post-pandemic national and global marketplace may be quite a tricky task. This is why working together with a business law firm is an excellent choice as you move forwards into an uncertain future.
Calkins Law is the business law firm of choice for business owners and entrepreneurs in the Cleveland, Buffalo, and Chagrin Falls areas. Our highly trained, professional staff members are ready to answer any questions you may have and help you plan to adapt to a new and different future.
Things may be changing permanently, but that doesn't mean they have to change for the worst. We're ready to help you move forward with confidence and a plan that leads to success
Contact a Calkins Law Firm business attorney today to set up an appointment - and don't worry, remote and virtual meeting options are definitely available!