If you’re planning on reopening your business soon, you’re not alone. Still, returning to business as usual may not be possible right now. In this guide, you’ll find plenty of useful resources to help you navigate the process of reopening, returning workers to the workplace, and implementing new protocols to keep everyone safe.

Evaluate Your Financial Standing

Now more than ever, it’s critical that you know where your business stands financially. If you’ve been losing money during the lockdown, now is the time to clean up your bookkeeping and re-evaluate your budget.

• Work with financial advisors from Trinity Wealth Partners to help you create a financial plan.
• Create cash flow forecasts so you can build a realistic reopening budget.
• If money is tight right now, be ruthless about cutting your business expenses.

Embrace Change

Adapting to the changing times will help your business stay afloat. Take this opportunity to make impactful changes to your business, whether this means shifting your employees to remote work or offering virtual services to your customers.

• Consider offering a flexible work model that allows employees to work from home most of the time but still visit the office when necessary.
• Make your business accessible online to customers.
• Maximize your web presence by upgrading your website and getting active on social media.
• Hire market research services to learn about new ways to market your business.

Promote Workplace Safety

Before your employees return to work, implement new safety measures to keep everyone healthy.

• Make your office safer with enhanced cleaning practices and improved ventilation.
• Set up a capacity management system to avoid overcrowding your business.
• Make a plan to screen office visitors and minimize contact at the front desk.

While the coronavirus is going to stick around for a while, your business needs to get back up and running as soon as possible. Create a reopening strategy now so you can set your business up for success. Assess your finances, make effective changes to your operations, and do what you can to reduce the health risks to your workers and customers alike.

Need to create a financial plan to reopen your business on a strong note? Work with the experts at Trinity Wealth Partners. Call 877-404-1112 to schedule a free introductory call.

The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This article was produced by Advisor Stream for the benefit of Rick Irwin, Financial Advisor at Trinity Wealth Partners, a registered trade name with Investia Financial Services Inc. The information contained in this article does not necessarily reflect the opinion of Investia Financial Services Inc. and comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities.
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