Micro, small, and medium enterprises (MSMEs), which form 99.6% registered establishments and contribute 62.6% to the labor force in the Philippines, have directly felt the economic impacts of the COVID-19 global pandemic.
If you have an enterprise currently affected by COVID-19, here are some business continuity tips to keep in mind:
- Keep workplace clean and disinfected.
- Utilize print materials such as posters and flyers to remind your employees to practice proper hygiene and sanitation.
- Put in place protective measures to ensure that employees know what to do if they exhibit symptoms of a respiratory illness.
- Keep a list of emergency hotlines and check the nearest hospitals your employees can go to.
Adopt policies thbuat help prevent the spread of COVID-19.
- Constantly keep and touch and check on your employees’ situation.
- Identify activities important to your business operations and the key personnel in charge to anticipate possible impacts.
- Ensure that you have a complete and updated list of employees’ emergency contact details.
- Keep a list of resources necessary for every employee and find ways to provide these identified resources.
- Check if the Work from Home policy is applicable to your business operations and allow flexibility in your employees’ work schedules.
Communicating with Partners & Suppliers
- Maintain open communication with your customers and suppliers to inform them of your business plans and to let them know how they can still purchase good or ask for your services.
- Maintain a contact list of alternative suppliers.
- Connect with other enterprise owners or business associations and look for ways of supporting one another.
Maximizing Available Technology
- Inform your customers about changes in your business operations.
- Utilize communication channels such as social media to share how COVID-19 has impacted your business to give key stakeholders (government agencies and private sector actors) ideas on how they can help.
- Be ready to answer questions or inquiries from your customers.
- Explore possible online solutions for marketing strategies and delivery of goods.
- Explore the possibility of having your goods delivered through fast courier delivery services.
Be in the Know
- Keep track of the COVID-19 situation and monitor news and updates from the national government and your respective local government unit.
- Do your research: look for reliable online resources that can help your enterprise.
- Enroll in online courses and join webinars that help increase your business resilience and enable you to adapt to business disruptions more efficiently.
Monitoring Your Finances
- Check your cash flow and prepare for long-term disruption.
- Research on available economic packages and services from government agencies and private sector providers.
- Discuss with your business partners the possibility of having a grace period for your rental and utility fees.
- Stay informed on payment extension announcements from lifeline service providers and banking institutions.
- Explore e-commerce and other online banking solutions.