March 23, 2020

3 strategies for curbing COVID-19-related business losses

The worldwide coronavirus outbreak threatens to disrupt operations for companies large and small for the foreseeable future. In fact, 82% of business leaders recently surveyed by the Young President’s Organization anticipate revenue declines over the next six months. To help stem losses, 95% of chief executives polled are taking action, including canceling major events (64%), nixing business travel (53%), cutting costs (39%), and allowing employees to telecommute (28%).

While there’s much a small business owner can’t control during uncertain times like these, they can take steps to protect their enterprise from being financially crippled by COVID-19. For advice, I reached out to three experts, each of whom I interviewed for a new article on this topic published on the US Chamber of Commerce's CO―website, available here.