Thriving for Profitability

Published: July 8, 2020

Now that America has celebrated it’s 244th birthday, amid a pandemic, social unrest in the streets, and a divided nation and an election coming up in November, where are we to go from here? With the reopening of the economy, there are some challenges that all industries must endure, spacing, wearing of masks, and the relentless washing of hands. Working from home for those of us who are so fortunate will possibly move in the new normal. So not that we are back to work what are the challenges that we must now face? 

Challenges now Facing Businesses 

No matter if you are a small to medium-size business (SMB), there are certain things we all must do when starting back up.  (1) revenue growth: this is an area that is always paramount in small business operations and is the top challenge for all small businesses, but not so for larger organizations. (2) The hiring of employees: with the Coronavirus, everyone is scared of catching the virus and not as apt to work in cramped conditions. (3)  Growing profits: Sustaining increased profits and maintain viable cashflow will be tricker than before. (4) Evolving government regulations: What a company can or can not do with this virus, is an ever-changing subject and can change by the day. 

(5) Healthcare: regardless if the employer provides it, or the employer receives it from other places, this is at the forefront of adult minds now not only for them but for their families as well. Each organization faces its challenges; nevertheless, knowing other businesses are going through the same thing is kind of comforting.  

Small Businesses That are Thriving During Coronavirus 

The US Chamber of Commerce (CO) did an interesting article naming some small businesses that are prospering during this Coronabirus issue. Cleaning services: with Covid-19, more people are getting offices, restaurants, homes are getting sanitized, and an increase in business for small businesses in this industry. Delivery services: with consumers being afraid to go out, and the local government imposing shutdowns in various states, professional deliver services are thriving. Drive-in-movie theaters: Ah yes, the good old drive-in-theater has made a comeback. Now families can sit together, roll down the windows, and enjoy a movie.  

Thus, like that of the ’60s and ’70s. Grocery storesIs another industry that has seen a surge in business. Many people are stocking up, which, on the other end, causes shortages in other areas. Liquor and wine stores: With restaurants and bars closed, more people are buying their liquor and drinking at home. The industry is seeing a sharp surge in business, and people are spending more money on alcohol than before.  

For the full listing of these thriving small businesses, go here. Now, if you want an updated series of resources done daily go to CO as they share ways, small businesses can open up their businesses safely. And finally, here is another resource for small businesses that deal with financial support for the small business owner

Concluding Remarks 

So as you can see, not all businesses are suffering from the Cornorvirus. I think we all agree that the business world will never be the same. Not all companies will survive the three-month shutting down of the economy. Moreover, those that do there will be a modification on the operation.  

Like all entrepreneurships, entrepreneurs will find a way to evolve into new business ventures equipped for the Coronavirus. Employees hired, taxes paid, and the enterprises will develop into unique organizations that will birth others. This is America; we will find a way through innovation to create something new that will be part of our new normal.  

But for now, we will do what we always have done, study it, learn from it, and manipulate until we find a cure or vaccine. Nevertheless, in this writer’s opinion, there is one thing that we need; and that is administration change at the top. So, until then, stay safe and listen to the CDC. 

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