How Coronavirus (COVID-19) is Impacting Small Businesses and What You Can Do About It 

How Coronavirus (COVID-19) is Impacting Small Businesses and What You Can Do About It 

The spread of the coronavirus (COVID-19) is developing rapidly, leaving many small
business owners uncertain about their future. Those we’ve spoken with expect
the coronavirus to have a significant impact on their revenue.

Unfortunately, it seems these concerns are justified, but there are some actions you
can take to protect your small business while at the same time, protecting yourself, your employees, and your customers.

In this article, I’ll lay out what we know about how coronavirus is impacting small
businesses, how you can minimize losses, and some steps you can take to protect your business. These suggestions are by no means exhaustive, as there is much we still don’t know about how this situation will play out. But we hope they will be a good starting
point for business owners who are overwhelmed and unsure of what actions to take.

First, I want to make clear that your number one priority should be to stay safe and
 take care of yourself. 

Take care of yourself

Situations like this are stressful enough on their own, and managing a small business
 in the midst of the chaos can amplify that stress. Before you rush into action, if you’re struggling with excessive stress and anxiety, look for some ways to alleviate that.
I know that when you’re overwhelmed and concerned about your small business,
it can seem like you don’t have time for things like self-care. But this situation is a
marathon — not a sprint – and it’s important to take care of yourself throughout.

Resources for managing stress and anxiety

There are many resources on the internet for how to manage anxiety related to the coronavirus outbreak for you to explore. To start, here are three things you can try
to get some relief:

• Take a 10-minute break to do some light breathing exercises or yoga. Purposeful, 
• mindful breathing has been shown to be an effective tool against anxiety.
• Consider limiting your coronavirus news consumption. It’s important to stay informed, but refreshing your feeds constantly for tidbits of news on the coronavirus isn’t going to prove productive. Instead, check the CDC website for updates periodically and try to spend most of your day focused on other things.
• Talk to your friends and family. It’s important that even though this situation leads to increased social isolation, that you stay in touch with people. Don’t be afraid to reach out to a friend for a phone call — or better yet — a video chat.