How is COVID-19 affecting small businesses? Reuters news organization brought together experts from around the world for answers from business owners.
May 26, 2020
By Elaine Cole
Reuters asked the questions and then rounded up a dozen experts for answers, including Michael Sherrod, the William M. Dickey Entrepreneur-in-Residence at the TCU Neeley Institute for Entrepreneurship and Innovation.
In their weekly Twitter event, #AskReuters, the international news organization brought together small business experts with small business owners for a Q&A about the challenges and opportunities surrounding COVID-19. The resulting story has been published in news outlets around the world, including The New York Times.
Here are a few examples:
Q. How should small companies communicate with customers in a time of crisis?
“These are the most nimble of businesses. They should be on the phone and sending emails to their customers. They know them well and know how to deliver value,” Sherrod tweeted.
“Small business people are used to problems. They can figure this out. Your customers are your best source of ideas and immediate help. Reach out, be transparent, find ways to help and they will help you,” he added.
Q. When it comes to small business, what are you optimistic about right now?
“Small businesses are most likely to rebound first and most likely to struggle most for lack of cash. I'm optimistic for SB because if innovation in business survival exists anywhere it exists in small businesses. Local customers want their local businesses back!” Sherrod tweeted.
Here is a link to the article.