Our way of life has seen considerable upheaval in Bellingham, WA. COVID-19 changed the way we view safety and social interaction. Our community has done what it can to keep our institutions running, from the gradual reopening of the Bellingham Farmers Market to the virtual integration at Whatcom schools.
Small businesses struggling with the economic impact of COVID have especially had to make rapid adjustments, with many unable to keep up. If you own a local service-based business in Bellingham, some key considerations can help ease the burden and maintain operations.
Talk to Lenders and Government Resources
Financial relief for small businesses has been a priority in government stimulus plans. Staying on top of changes and understanding how you fit into the plan is essential in getting the most assistance possible.
Compile a list of any lenders you use for financing your equipment, office spaces or transportation. With the effects of COVID being felt by everyone across the country, most lenders have made changes to help with financial challenges.
Contact all of your lenders to explain your situation and discuss your options. They may be able to reduce monthly payments, offer deferments or even lower your rates so that you can pay less monthly without seeing a significant change in the total amount you pay.
Or if you are in need of additional financing, we’ve partnered with Fundwise Capital to get you a line of credit in as little as a week!
Build Your Brand Online
Slowed business does not mean you have to stay idle. Local service businesses benefit in particular from enhancing their online presence to build their brand and broaden their communication.
Take time to create business profiles on major social media platforms like Facebook, Twitter and Instagram. Create a schedule to post new promotions, informative content and business updates about how you are handling your local offerings in the midst of COVID. Social channels inspire feedback and open up two-way communication with current and prospective customers, allowing you to foster healthy relationships.
Social media also creates organic opportunities for capturing emails, which is hugely beneficial for generating new business. For more information on how digital marketing can benefit your small business in Bellingham, WA, contact our team of experts or follow our blog for insider tips.
Your online presence should be used thoughtfully alongside a service offering that is conscious of the struggles your clients face with COVID. Free services and premiums offered with your normal services can maintain the flow of work for many local service businesses.
In Bellingham, WA, our community is dedicated to supporting the success of local businesses during these trying times. Local service businesses do not necessarily have to resort to closing their doors and reducing staff. Smart budgeting, cross-training employees, adding skills and communicating with your stakeholders lays the foundation for sustainability and even growth as we navigate these unique challenges.