The Impact of Covid-19 on Small Businesses
How small business are managing with the impact of the pandemic
December 17, 2020
Unfortunately, small businesses have suffered a lot since the shutdowns began. Some have had to crack down on restrictions, others have had to limit their menu, and some businesses have had to shut down completely. With the public realizing the toll Covid-19 takes on these businesses, people have spread awareness about local small businesses.
One such business that has had to adjust according to new restrictions in San Dimas is Klatch Coffee. They no longer allow dine-in, and they don’t accept cash. Regular customers have to acclimate to the new environment and requirements to keep it safe for all customers and employees.
After contacting an independent business, Mark Andersen and Associates have given their outlook and how this pandemic and its effects have impacted them. Co-owner Lauren Davis commented, “Our property management company hasn’t been affected as much as other small businesses. What we struggle with the most are the laws the state has imposed that restricts our rights to do business as usual. Other than that, the biggest effect is the stress that people are under in all of this makes them agitated and on edge – then they take it out on others – like us.”
Another question some may have wondered, is how do businesses remain intact, especially the ones that have remained strong throughout the pandemic. What aspects of these businesses have made it easier to manage? “Our business was able to get the PPP loan from the federal government and that has helped financially. In addition our small group of employees have been able to continue doing their jobs and social distance at the same time as our office furniture is spread out. Digital communication has also made it possible to stay open and functional,” says Davis.
For those small business owners out there, Mark Andersen and Associates have also given some tips on how owners like them can take steps to help their business. Davis advises, “Most businesses would benefit from considering how to do more online and digitally. The excuse of ‘we’ve always done it that way’ is no longer an option. You’ve got to rethink how you make money, and how you can do things differently than you have in the past.”
Similarly, independent business Celestial Aviation has commented on how the pandemic has affected them. “Celestial Aviation is a commercial aircraft parts supplier supporting domestic and international commercial airlines and maintenance facilities. The Covid-19 pandemic has significantly affected our business since early 2020. Our revenue is directly impacted by passenger air travel and we currently are at about 50% revenue from this time a year ago.”
When asked how they’ve stayed afloat, they said, “We’ve managed to stay afloat by re-directing some of our focus and services to cargo airlines which are currently experiencing heavy flight volumes and maintenance facilities supporting those cargo airlines. We have simultaneously continued to support our existing customers during this difficult time as they are also struggling to stay in business and employ their workforces. We understand that our continued commitment to our existing customers will play a key role in their survival as well.”
For those who have to support their small and/or independent business, Celestial Aviation’s advice may very well help your business. “Steps that other small business owners can take to survive the pandemic would be to re-innovate and re-direct their services wherever possible. Review and adjustments of current overhead expenses also yield some savings, including reaching out to suppliers and discussing saving options or extended payment options for example. Local loan assistance for payroll and operational expenses and staying up to date on their industry trends will also help them plan for 2021.”
“As a small business in the commercial aerospace industry, we work on staying well informed with not only the travel industry but also the science and medical industry which helps understand what the current and future travel trends will look like for our business in the next coming months.”
This isn’t an easy time right now, and it’s especially easy to lose faith and footing. Small businesses have had to face many unprecedented hardships this year, but it is important that they stay healthy, stay safe, and hold out hope for better days.