4 ways to protect yourself and your business from the coronavirus (COVID-19)
Apart from the obvious health risks, the coronavirus will put many businesses at financial risk. The unfortunate reality is some businesses will not survive the coronavirus and will end up closing down.
To help protect your business and reduce the risk/effect of the coronavirus on your business, you should:
- Avoid unnecessary overseas travel – you could get sick, you may not be able to come back into the country due to restrictions for returning residents or you may be quarantined (in isolation for extended periods regardless of health). All this can mean lengthy time off work and away from your business. Clients/customers won’t necessarily wait. Savvy business operators with smart practices to minimise the impact of the coronavirus can end up with a clear competitive edge.
- Allow some staff to work from home on a rotational basis. Many businesses are doing this to reduce the potential of wiping out their team by limiting exposure and risk. If someone at your business gets sick, they can infect the rest of the employees. Staff, including yourself, could be quarantined. Your business won’t be able to function.
- Improve basic hygiene – more frequent hand washing and wiping down of surfaces. Alcohol-based products are recommended. Try to stay at least 1.5 metres away from coughing or sneezing people (i.e. minimise the spread through droplet infection).
- Have a documented contingency plan – think about servicing some customers electronically to reduce contact if this is possible. Prepare staff to work from home and establish equipment needs. Be ethical and avoid negligence – if certain staff have immune-related issues and are subject to high exposure risks work to minimise their exposure through their roles and duties. Increase hygiene at the workplace and provide additional products for staff. Certain businesses may be able to use Perspex screens between customer and service operator.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2