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Managing a small business in a bad economy

Member
Nov 11, 2020
25
Occupation
Small Business Owner
This is a bit of a question but more so an open thread for small business owners to discuss their plans for the remainder of 2020 and into 2021.

As you all know, COVID-19 hit small businesses hard. It is estimated that upward of 80% of small restaurants will be closed by the end of the year for good. Several areas are facing another lockdown thanks to the spike in gatherings because of the election.

I run my business mostly online but my customer base has dropped by nearly 70% and has yet to recover. I am planning on hosting holiday sales in an attempt to gain more customers and more sales.

What are you planning on doing for your small business?
 
Member
May 26, 2022
25
Occupation
Contractor
I work for and by myself for the most part. My business did not take too much of a hit. If anything, I had more work because people were moving out of city areas and buying homes. That being said, the inflation is what has hurt me the most. It seems like I have to keep upping my fees and people are being put off by it but if I don't, I lose money.
 
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