How To Prepare Your Business for a 2nd wave of COVID-19 Outbreak
The increase in COVID-19 cases within Canada, specifically Ontario and Quebec, is escalating into a 2nd wave and possible shutdown. The past few months allowed businesses to open with certain restrictions in place and the warmer months allowing a little relief of intense impacts on businesses.
To ensure your business is well prepared for a 2nd wave, begin to create a response plan ahead of time and implement safety protocols for maximum safety.
We’ve outlined 6 ways your business can prepare for a second wave:
1. Reflect on your response to COVID-19
As a business, reflect on your approach to lockdown during the COVID-19 outbreak.
Consider these categories when reflecting:
i. What did the business do well?
ii. What did the business learn?
iii. What should the business do differently?
iv. What is stopping you from achieving the best result?
2. Create a business continuity plan
The first step to creating a business continuity plan is to create a group of employees (s) depending on how many employees are employed in your business. The group will manage all aspects of response planning and create solutions based on changing guidelines and protocols.
The next step is to create multiple scenarios based on the current state from the government including the worst-case scenario, a lockdown.
Consider impacted parties and vendors to your business. Create a plan on how to update the vendors and partners in the case of any business impact.
Consider how employees will be impacted by multiple standpoints including compensation, health issues, leaves, work schedules, and pay changes.
3. Create new policies to reflect new COVID-19 business guidelines. These include changes to policies such as health concerns, PPE, work schedules, vacation, sick leave, and much more.
4. Create an emergency communications plan. Identify key contacts for each business partner and vendor, including processes for tracking and communicating about business and employee status.
5. Stock on Personal Protective Equipment. Ensure the right personal protective equipment is purchased based on different needs. As an instance, the PPE needed for restaurants includes disinfectant wipes, disposable gloves, disposable masks, soap, and hand sanitizers.
6. Determine the financial impact
Review the financial impact to your finances during the initial COVID-19 lockdown. Here
are some tips to effectively plan for the impact of COVID-19 now:
i. Reduce cost
ii. Reforecast cash flows and liquidity
iii. Determine impacts to business on lockdown on demand and supply
iv. Review partner, vendor, and credit risk
How can Evrlinx help?
Evrlinx seeks to protect Canadians by effortlessly linking Canadian suppliers of personal protective equipment (PPE) with organizations in need. Our goal is to strengthen our Canadian supply chain for a safer future.
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