The COVID-19 pandemic has put all markets and economies on their knees around the world. Most businesses took a massive blow since people are obliged to stay at home for their safety. One of the challenges business owners face right now is how they’ll adapt to the situation and keep their business running in these turbulent times.
In order to adapt to the new normal, we’ve listed down some tips that might help along the way:
The most important thing in managing your cash flow is segregating personal from your business disbursements.
This can be best done when you have a separate business account for all your business finances. With a separate account, you would be able to view your business’ cash flow better without having to worry about personal finances.
Having a business has more responsibilities than just running it. Why spend time lining up in the bank or government agencies to pay when you can do it online? With DigiBanker, you can pay government remittances such as BIR, SSS, PhilHealth and Pag-Ibig online and in real time. You can also efficiently manage your business’ cash management online. Learn more.
If your company manages a small number of employees, manual timekeeping and payroll disbursement might be an easy task. However, as the company grows, shifting to online payroll management is your best solution. Companies like Sprout Solutions offer cloud-based systems that focus on the harder task of doing business in this very unpredictable time. You can check their HRIS and payroll solution offerings to gauge what suits your business best. Learn more.
Support the business community by helping organizations that require membership fees open their doors for free via social media platforms. One good example is the Buyanihan Shop which supports local food sellers and small businesses through Buyanihan.Shop, an online shop of micro-enterprises.
These are some of the tips we can offer to keep growing your business, especially at these trying times. You can enjoy all of these features from our BusinessPlus account! You can now apply easily at the comforts of your workplace or home using our online account opening via Skype. Start your business journey hassle-free.
Read more: How to open an account via Skype