The emergence of COVID-19, also known as coronavirus, has sent many entrepreneurs reeling as normal small business operations are turned on their heads. With the increase in online shopping, the recommendation to let employees self-quarantine and work from home, and economic uncertainty, the landscape has vastly changed over the past few weeks. In order to minimize impact to your small business and keep your team members and community safe, follow the practices below.
Obey Federal and State Laws
The Occupational Safety and Health Administration (OSHA) has a webpage with the most up-to-date legal requirements you face as a small business owner. In addition, your specific state or county may issue directives (such as a stay at home or shelter in place order that requires non-essential businesses to cease operations at their public offices) that need to be followed. In addition, you also need to follow sick leave regulations for any employees who have come into contact with the virus. Luckily, the IRS recently announced that it plans to offer reimbursement for COVID-19-related leave. You can read more about the specifics of the relief efforts in our article here.
Provide a Safe Work Environment
According to Gusto, OSHA requires that all employers provide a safe environment that is “free from all known hazards.” For some businesses, this may mean allowing employees to work from home in order to obey a stay at home order and self-quarantine. For businesses that are considered “essential” this means a focus on hygiene, potential distribution of personal and protective equipment such as masks and gloves, and maintaining proper social distancing space whenever possible.
Protect Employee Privacy
If one of your employees has come into contact with the coronavirus and/or becomes ill with similar symptoms, send them home immediately. Ask any employees that they have worked in close contact with to self-quarantine and work from home, but do not share details of who the infected person might be. You may need to update your sick policies to promote the health and safety of your employees. If you find yourself in the unfortunate position of needing to lay workers off due to loss of business, make sure that you are in compliance with all unemployment requirements.
Communicate with Customers
Your customers are also likely experiencing a disruption to their daily lives, and many are fearful of COVID-19 contamination. The best way to build trust and put their minds at ease is to communicate and provide regular updates on how your business is responding to the pandemic and the precautionary steps you have put into place.
Prepare Your Finances
Whether it is due to needing to shutter the doors of your physical store, a disruption of your supply chain, or the inability to work at your normal pace due to office closures, many small businesses are experiencing financial burdens due to the pandemic. Create a continuity plan for essential workers and communicate updates to your plan regularly. Although the tax deadline has been moved from April 15th to July 15th, you’ll still want to continue prepping your taxes to make sure that your financial ducks are in a row.
While the coronavirus is causing interruptions in daily life for most Americans, small businesses are experiencing an even higher degree of change and uncertainty. Luckily, erring on the side of caution to keep your employees and community safe as well as ensuring that you are in compliance with all federal and local requirements for small business owners can help you to minimize the impact on your business and safeguard your future operations when the pandemic passes.
