Re-Opening Your Business!
Dear PDC Community:
Small business owners across the entire Bahamas have reopened their doors for business (post Covid-19), and we’re here to help. While we would have transitioned into a new norm, we are still not in the clear as yet as we are now in the Hurricane Season (June 1-November 30, 2020).
Whether you’re a seasoned business owner or brand new to entrepreneurship, this checklist and explanation has everything your small business needs to succeed in this new climate.
Backup company files- You can purchase a flash drive and transfer business files from the computer to this external drive, or you can research storage options with the Cloud component.
Establish a Business Continuity Plan. This should cover disasters- albeit natural, fire, theft, and of-course Covid-19, far too many times businesses operate without a business continuity plan which should outline an action plan to restart your business.
Ensure you have an emergency business fund just in-case something happens (God forbid). You know your business finances more than anyone else. This fund should be able to accommodate at least 3 months of operating expenses.
Ensure employee’s National Insurance contributions are paid - use the Covid-19 experience as a case study! Source an electronic method of sending and receiving payments for your business- Websites or mobile apps, reach out to a trusted IT Professional or your Banking institution to explore ways to enhance the proficiency of your business.
As usual, we are here to assist you with your business needs. As we approach the celebration of 47 years of Independence, PDC has discounted our Business License fees by $47 and our Bahamian Incorporation services by $197.30!
Register your new business: https://bit.ly/pdcnewbusinesslicense
Incorporate your company: https://bit.ly/pdcincorp
Be advised that we have started a weekly series, and on every Tuesday of the month we will be sending out blogs with various topics to assist with the professional development of your business
Looking forward to next week’s blog!
Peter D. Cartwright