One good thing about COVID19; It has created CHANGE AND INNOVATION!

COVID -19 PANDEMIC CLOSES THE GLOBAL ECONOMY

The business world was caught off-guard when in March 2020, the entire country was shut down due to the Global Pandemic, Covid-19. The COVID-19 pandemic has profoundly influenced the lives of everyone on the planet. This situation has changed our daily activities; a simple walk in the park is perceived, run by the grocery store or a doctor's appointment is now something of concern! The same is true for businesses. Many businesses have either shut down or had to change the way they interact with their customers to accommodate social distancing and all other mandated COVID-19 health regulations. New patterns of consumer and business behaviors and their expectations have emerged during the global crisis.

THE NEW BUSINESS WORLD

COVID-19 has been a tremendous economic shock and burden on our society. Over the last 6 months, once businesses started to open to new regulations and concerned customers, the focus began to shift towards ways to address health and safety risks while also keeping the doors OPEN! Businesses have historically not changed much on how they run their business; implementing the saying," if it ain't broken...don't fix it!" Over the years, the introduction of new technologies has slowly brought the business world to change but in this pandemic, many were unprepared to make the necessary shift. Businesses need to change technologies, business practices, and strategies that improve customer and employee safety by mitigating the risk of contagion. 

As we move to 2021, all businesses small and large need to look at their business. This month represents the time to assess your current operations and decide how to adjust in the COVID and post-COVID world. 

Rebuild Your Business During COVID-19 and beyond!

1. Review your balance and financial statements for 2020 & Prepare for 2021.
2. Make any pivotal changes in your business to address the concerns of your customers and employees. 
3. Plan, Plan, Plan... create a best-case, a baseline, and a worst-case scenario that will show creditors, investors, lenders, customers, and suppliers that you are serious about keeping your business open.
4. Use your local resources: Chamber of Commerce, SCORE, Office of Economic Development, your suppliers and customers to get a handle on what you need to do in 2021 to not ONLY keep your doors open but grow!

Merchant Processing Solutions is a local processor that wants to help businesses succeed by partnering with them to cost their merchant services costs, find better technologies to grow their business and be a local resource whenever you need us! Call today for more information on how we can help your business grow! 

MERCHANT PROCESSING SOLUTIONS 
954-938-2420