COVID-19 is ruining your business

Freelancers and small business owners finances are burning.

March 18, 2020

Unless you are a contestant of Big Brother and spent the last few weeks in total isolation from the media and the society, you are probably aware that the world is struggling with the coronavirus outbreak. Many countries have closed their borders in order to prevent the spread of the virus. As a consequence of the border closures and the outbreak, companies have allowed their employees to work remotely, but some employees have been laid-off or even terminated completely.

As a self-employed person, I understand how tough the situation is for small business owners and freelancers. We are the first ones to be left with no customers and no work. Unlike normal workers, we are not eligible for statutory sick pay or other benefits. Facebook announced the campaign to support small businesses affected by coronavirus. Many governments allow tax payment delays, offer grants and zero-interest loans, but all these measures have limitations and restrictions, therefore they will not apply to all.

One cancelled wedding means that the following people will lose a paying client:

- hair and makeup artist

- photographer / videographer

- florist

- baker

- driver

- guest entertainers / musicians

- wedding stationary designer

If you are self-employed or a small business owner, what you can do is

  1. Monitor aid programs and grants announced by your government, grants and tax-relief programs, research carefully if you are eligible and how to apply for them.
  2. Talk to people. Tell them your story. Even if they do not buy anything from you, they might share your information with someone who will. Even though the Internet is full of videos of people fighting over a roll of toilet paper, the truth is: problems unite most people and people tend to support each other and show kindness.
  3. Whatever part of your business can be done online, should be strongly advertised.
  4. Discuss other arrangements with your current clients and suggest alternatives
  5. Email your old customers and ask if there is any work you could do for them remotely.
  6. Strengthen your cancellation and rescheduling policies in contracts with your customers and explain why you have to do it. They will understand.

Good luck and stay strong.


return to blog