A bi-monthly newsletter about things happening with your fellow members.
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These are uncertain times, but working together we can all get through this as quickly as possible. SBDC recommends business owners take these steps to weather the storm:
Conserve and protect cash. Talk to all your business and personal lenders, vendors and creditors and talk with them about your situation and possible solutions. It is better to communicate upfront rather than waiting, and many will want to work with you!
Forecast how your daily operations and revenue are affected. Make a list of fixed expenses to keep your doors open and home running. You will need this information if you need to apply for a loan or other financing.
Communicate with your customers! Call your largest ones directly through phone or video. Engage with others through social media, email, and other ways. Everyone is in the same boat, and collections and revenue may be hard to generate for a short time.
As difficult as it may be, the best option may be shutting down operations temporarily to conserve cash. If you have employees, be honest with them and ask them for ideas. They are your work family. Try to focus on building a two-day, two-week and two-month plan.
Practice self care! Make sure you are properly exercising, getting adequate rest, practice social distancing and other habits to keep you healthy! It also helps to have someone to vent to confidentially. SBDC has a new, dedicated temporary office phone number at 417-255-5734. Please call anytime and we can discuss your individual situation and/or schedule a video chat. We are also trying to keep our Facebook page (SBDC in West Plains) up to date with only official, relevant information.
Finally, remember while we may not be able to see each other physically for a while, we are not alone and in fact we are all in this together!
West Plains Area Farmers Market
Here are links to important state and national resources for employers.
Missouri Coronavirus Hotline: 877-435-8411
Many leading Missouri health systems are also providing updates and guidance in their communities relating to COVID-19.