Resources for Small Businesses Impacted by Coronavirus (COVID-19)Natasha Ashenhurst2021-08-31T11:58:15-07:00
BUSINESS RESOURCE HOTLINE
1- (888) 821-6652
A live person will assist you with questions and directions to current resources available in Thurston County. This Hotline is brought to you by the City of Olympia.
The Thurston Regional Economic Recovery Task Force* is developing and coordinating a multi-faceted response to the COVID-19 Pandemic and its specific impacts to and throughout our broader Thurston County Community.
This is a difficult period for our community, and we want you to know, you’re not alone. Local partners are coming together in an effort to figure out how we can reduce impacts today and position ourselves for a quick and effective recovery in the months ahead.
We will endeavor to provide local businesses and impacted workers relevant information through this resource site and other means as events unfold. We’re working fast to bring you information as we learn about it, so please forgive any errors or omissions and be sure to share with us any resources or solutions you think could help others.
A comprehensive list of actions for business owners impacted by COVID-19
If you are leasing your space contact your landlord and ask them to negotiate lease terms that would allow you to forgo payment on your lease for a few months. Work those missed payments into future slightly increased payments, so the landlord can recoup the missed payments over time.
Contact your vendors to see if you can negotiate return or partial return of non-perishable good condition inventory that are currently accounts payable. Explain that you do not want to default on payment but are unable to pay. Explain that you want to maintain a relationship with them so you can order inventory from them in the future.
Explore alternative methods to deliver goods to customers. Take steps to ensure customers understand safety precautions you are taking with these alternative delivery methods and are comfortable with those precautions.
Brainstorm with your employees to find alternative sources of revenue and activities they could be doing to produce revenue. If necessary reduce employee hours. In worst case scenarios provide employees with information for options for unemployment benefits. Constantly update employees on the businesses status and keep communication open. Contact Employment Security Department regarding their shared work program that can help you retain employee through partial salary payments https://www.esd.wa.gov/SharedWork.
Keep your customers up to date with daily social media posts. Use social media posts to show precautions that you are taking as a business to make customers more comfortable with using delivery or online services to make purchases.
Trim as many expenses as possible. Reorder only essential products to keep the organization running.
Reduce service or good offering temporarily. Keep your best sellers. Reduce service or good items with higher costs, more risks, and lower profit margins.
Sell non-essential assets to generate cash.
Contact other businesses to see if you can trade goods and services.
Move services online if possible. If you own a yoga studio, for example, hold live classes online and ask your current customers to join those classes. Keep relationships with customers through altered services.
Contact your insurance company to see if there are any policy benefits you may have missed that can help you immediately.
Contact your state government regarding delaying quarterly tax payments.