7 tips for keeping your business going during the coronavirus downturn

Care for your people — Establish “robust and frequent” communications with employees to understand how they are being personally impacted by the virus and provide reassurances where possible about how you plan to support them.

Build a governance system — Create a governance system for decision-making, focusing on data rather than emotions. That may comprise three levels: The immediate, namely people and the day-to-day business; the medium-term, such as cash conservation and potential lay-offs; and the long-term, like the possibility of major economic impact.

Run risk assessments — Even if you have an existing risk assessment, it may no longer be suitable. Set up a new one focusing on the hygiene and safety measures needed to safeguard humans, finances, technology and operations during the outbreak.

Read more : https://www.cnbc.com/2020/03/26/how-to-keep-your-business-afloat-amid-the-coronavirus-downturn.html

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