Owning a small business was already challenging enough, then the coronavirus and the last few months changed everything. But amidst 39 million Americans claiming unemployment and the extraordinary impact on even the largest companies, opportunities for long-term positive change are taking shape. Technology has brought us closer together, organizations have pivoted in a matter of days, business owners have shown inspiring levels of resiliency, and the way we work has shifted forever.
The question is: Are you taking action to make sure your business is ready to thrive in a post-coronavirus world?
In a survey prior to the global pandemic, nearly 70% of American employees said they believed that the traditional office setup will be obsolete by 2030. Additionally, the need to have surplus staff to manage every aspect of a business has been declining for years, directly coinciding with the increase in cloud-based business process outsourcing and its positive impacts for all types of organizations.
Many industry experts recommend that businesses outsource anything that is not a core function, particularly finance and accounting, HR, and payroll. When polled, small business owners stated that the questions and issues ‘keeping them up at night’ are:
- Is my business going to be viable after this pandemic?
- How do I attract and retain experienced staff?
- Where can I reduce back-office costs?
- Am I doing the right things to maximize cash flow?
- How can I increase my sales?
- Am I promptly billing customers and paying vendors?
Partnering with a cloud-based finance and accounting expert eliminates those headaches. The right partner can provide daily resources to help your cash flow, make your data more timely, and provide greater insights into your business.
The way we work as a country and as a world was shifting before the coronavirus and the changes will be even more dramatic going forward. Surrounding your business with reliable, affordable, expert resources will ensure that your business will survive this crisis and thrive on the other side.
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In addition to our education features, we’ll be kicking off a series of stories highlighting how parents, students, and educators are adapting to the impact of COVID-19 on education. If this is important to you, please consider donating to our education reporting fund. https://business.facebook.com/donate/1846323118855149/3262802717172659/