Tag: survive

Can Your Business Survive a Second Wave of COVID-19?

Last week, the UK Prime Minister Boris Johnson admitted that a “second wave” of COVID-19 seemed inevitable. We have known about the pattern of viral infections for centuries, so it should have been no surprise to our leaders that this second wave was coming.

The problem for businesses is that all the noises coming from national leaders have been about being at “war” with the virus and “defeating” it to avoid it coming back. It has encouraged businesses to believe that the worst was over and that they could get back to work. There have been campaigns urging people back to work for fear that the economy would plunder even greater depths.

Many businesses, therefore, are probably not as prepared as they could be for the inevitable. Already a third of the UK faces significant “lockdown” from the start of the coming week. The Government has hinted several times in

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Downtown Durham businesses hope online sales, outdoor dining will help them survive pandemic :: WRAL.com

— In addition to stunting the national and global economies, the coronavirus pandemic has changed how some places do business.

The Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill issued a study Tuesday outlining seven ways the pandemic is reshaping institutions, including people now shop online more and get things delivered rather than going out to stores.

Jeddah’s Tea, on Market Street in downtown Durham, never had a website before the pandemic. Now, the shop sells only online for delivery or curbside pick-up.

“We’re probably doing about 35 percent of what we were doing when we were open,” owner Morgan Siegel said. “It was extremely stressful. I would have nights where I was dry heaving and stressing out about how are we going to make this work.”

Siegel said she can’t afford to open for service inside

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How Innovation and Technology Have Helped Latin American Businesses Survive?

The pandemic has affected the world’s economy like nothing ever before, especially in Latin America, due to countermeasures taken by the government like people staying home and business closing.

FREMONT, CA: With the lockdown easing in some parts of the region, the pandemic’s impact on the business ecosystem is turning to be evident, unveiling, among other things, stories about the companies that survived the storm and even increased their profitability. In a survey, above half of the executive and business owners in Latin America spoke about their concern about the pandemic’s negative impact on the region’s economy. 

Opportunities for online businesses in the region

While the pandemic has had some severe consequences for Latin America’s economy, it meant a rise in profits for numerous businesses that were already prepared to provide their services or products via e-commerce platforms. As people were asked not to go outside, there was only

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Tricia Fairfax column: Helping Black-owned small businesses survive online | Columnists

In June, when our national reckoning on racial justice sparked widespread interest in supporting Black-owned businesses, my sales skyrocketed. The unwavering support from social media is what made 2020 my best year in business yet. It allowed me to upgrade my machinery, and get even closer to my goal of hiring workers and having my own studio.

While the online economy has helped me stay afloat during this difficult time, I know that isn’t true for everyone. Black-owned businesses are highly concentrated in retail and restaurants — industries that are most affected by shutdowns and social distancing.

And though we’ve needed more help, we’ve been less likely to get it: Only 12% of Black-owned businesses received the federal COVID-19 assistance they requested, compared to half of small businesses overall.

That’s sadly par for the course in a country where systemic racism is alive and well, and Black entrepreneurs have a

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Novo Guitars turns to direct sales to survive COVID-19

By Aimee Picchi, Special to USA TODAY
Published 5:56 p.m. ET Sept. 13, 2020

CLOSE

Novo Guitars sells hand-made, originally-designed guitars. Here’s how they’ve survived the pandemic even with no concerts or live performances.

USA TODAY

Since its founding in 2015, Novo Guitars has built a reputation in its home base of Nashville and beyond, with its instruments played by country legend Keith Urban and musicians who work with Beyoncé and David Byrne.

But when the pandemic brought its business to a standstill in March, owner Dennis Fano said the future suddenly looked uncertain. 

“We weren’t sure how long we were going to be shut down for,” Fano, 49, recalls. “And then once we were able to resume production, we weren’t sure exactly what that was going to look like.”

Until that point, Novo Guitars had been on a run. It kicked off 2020 with a “nice increase” of orders,

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These 3 Oil Stocks Won’t Survive Another Crash in Crude Prices

Oil prices cratered earlier this year, which caused a wake of devastation as several companies filed for bankruptcy. While prices had stablized in recent months, they took a nasty tumble earlier this week. That decline put renewed pressure on financially weak oil stocks, causing fears of another wave of financial destruction. 

Given the renewed weakness in the oil patch, we asked three of our Motley Fool contributors which stocks they fear might not survive another big crash. Topping their list were Callon Petroleum (NYSE:CPE), Occidental Petroleum (NYSE:OXY), and Transocean (NYSE:RIG).

A man holding a miniature barrel of oil with caution written on it in one hand and cash in the other hand.

Image source: Getty Images.

Troubling moves

Reuben Gregg Brewer (Callon Petroleum): The U.S. onshore segment of the energy industry is getting hit particularly hard today, with one-time giants, like Chesapeake Energy, succumbing to bankruptcy. Callon Petroleum, with a tiny market cap of just $200 million, appears to be teetering on the edge as it tries to muddle

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A Senate Proposal Would Free $50B for Nonprofits to Survive and Retool – Non Profit News

PeakPX.

September 3, 2020, Duluth News Tribune

It’s a good thing when an article in a major local newspaper about what communities need from nonprofits—and what nonprofits need from government—comes not from you but from your federal legislator. Even better is when that article comes across as reasonable, well informed, and passionate. That’s part of what it will take for our communities to turn the blind corner ahead, and it is what we see in this strong column by Senator Amy Klobuchar (D-MN), backing a vital proposal now languishing in congress.

This past May, Sen. Klobuchar, along with Senators Sherrod Brown (D-OH), Brian Schatz (D-HI), and Ron Wyden (D-OR), introduced $50-billion legislation to help nonprofit organizations meet increased demand for their services due to the pandemic. The goal of the WORK NOW Act (Work Opportunities and Resources to Keep Nonprofit Organizations Well) is to create a new grant program to

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How to Help Small Businesses Survive COVID’s Next Phase

America small-business owners moved quickly when COVID-19 started shuttering shops in March. Fine dining restaurants shifted to takeout. Book shops introduced curbside pickup. Gyms offered classes online.

Business owners, it seemed, just needed to face this once-in-a-lifetime calamity and get through a few months, when normalcy would resume. The Paycheck Protection Program (PPP)—government-funded forgivable loans designed to help businesses pay their employees—would help them weather the storm.

Six months later, there’s still no end in sight to the pandemic and no easy answers for small-business owners trying to survive. Strict safety protocols haven’t been enough to get customers through the door for some small businesses, and many owners—crushed by inventory and overhead costs—are grappling with hard choices.

“This is the worst small-business crisis of my lifetime, and I’ve seen a number of tough moments,” says Karen G. Mills, senior fellow at Harvard Business School. “I’m quite concerned that we haven’t

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Business owners drain savings to survive pandemic: ’I’m not planning for a big rebound in 2021. I’m looking at 2022,’ one says

NEW YORK — When the coronavirus outbreak forced cruise lines to cancel trips to Alaska, it wiped out Midgi Moore’s tour business, leaving her with thousands of dollars in deposits to refund.

Moore’s company, Juneau Food Tours, didn’t have enough cash on hand. So, she withdrew $30,000 from her retirement account — a painful decision for a 56-year-old starting to look forward to the day when she can stop working.

“It was a gut punch,” Moore says.

Many business owners are tapping the money they socked into personal savings and retirement accounts to withstand the pandemic. For some, like Moore, there are big expenses coming due while for others it’s a way to offset the losses and stay afloat until the virus eases its grip.

Owners are trying to keep their businesses alive at a critical time for the U.S. economy. Small businesses employ nearly half the nation’s workforce. In

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