Entrepreneurial Updates Menu

Entrepreneurial Updates
View Latest Posts
View Subscriptions
Posting Instructions

Active Bloggers

Reg culpepper Reg culpepper
class of
Reggie Culpepper Reggie Culpepper
Clark Atlanta University class of 1998
Will Moss Will Moss
Hampton University class of 1995
Maria Luisa Maria Luisa
class of
Elynor Moss Elynor Moss
North Carolina Central University class of 2003
Tamara Hill Tamara Hill
Jackson State University class of 1994
Central State University class of 1995
Beverly Johnson Beverly Johnson
class of

Top Tips for Restructuring your Business After COVID

Top Tips for Restructuring your Business After COVID
Posted By: Becca Meyers on June 25, 2020

When will things go back to normal? This is a question that many entrepreneurs ask themselves. As self-isolation and keeping of distance practices continue amid the COVID-19 pandemic, it isn't easy to predict a business's future.

But if you are an ambitious investor, another crucial question you should be asking yourself is: how can you restructure your business to recover losses after the crisis?

So, what is your post-COVID restructuring strategy? The following are several tips to help you restructure your business after the pandemic.

Communication is Key

It would be best if you opened up to your key stakeholders regardless of the damage caused by the crisis. Whether the business recovery process is formal or informal, you need to communicate with every individual or business to share your plans and expectations.

Remember, restructuring operations may have a lot of impacts on workers, clients, lenders, suppliers, and ****. Therefore, it would help if you developed an applicable communication technique with a promise to protect and support every stakeholder during the restructuring process.

Assess Your Business Health

Your investment is not perfect in terms of performance as it was before the crisis. The big question is whether it can withstand the financial impacts after the pandemic, or it will be a mere shadow of what it was before.

As such, you must put a plan in advance for possible post-COVID-19 restructuring scenarios. You can engage with your clients and suppliers to gather the information that could help you analyze and develop several demands and supply possible options. The options are the essential elements of the restructuring technique. You can use the possibilities to predict the changes that should be made, and the financial budget needed to survive after the crisis.

Do You Need Funding?

There is a higher chance that your business may need some funding to scale past COVID to stabilize its operations. However, if you have enough cash at hand with you, there is no need to go through it.

Financial instability is one of the biggest challenges that many businesses are going to face when things go back to normal. As such, several commercial and lending institutions are ready to provide funds to companies affected by the crisis.

However, most of these lenders demand something to leverage to ensure that you're capable of repaying the loans.

If you want funds to help you restructure your business, don't forget that borrowing can be challenging. Many funding providers want some security to give out loans. You need to review your credit score and your financial stability to determine how likely your business can access funds. If you are already in debt, consider consulting experts that can offer solutions fo consolidating debt or finding a settlement option. 

Revise Your Budget

Towards the end of the COVID-19 crisis, you will probably incur more expenses than income in your budget. For example, you may want to get commercial office furniture that meets social distancing standards, hire and train new workers or bring back the old employees you had laid off. You may need to purchase more inventory to meet the customer's demands. Also, you may need money for marketing and stocking up to bring in more customers.

As a part of your post-COVID plans, consider having a precise idea of what you need to include in the budget and what you should cut off to balance the revenue and the cash at hand for maximum performance. The goal is to eradicate wastage of money to make a clean budget for higher chances of business growth.

Formulate a Timeline for Restructuring

You may have many undertakings to achieve after the COVID-19 pandemic, but you can do everything immediately at once. It would be best if you had a timeline that prioritizes the most crucial strategies first, then the rest follows.

For instance, your primary objective may include getting enough to finance the business undertakings. Once that objective is achieved, you can work on employing workers and purchasing inventory before re-opening doors in case you had closed as a result of the crisis.

As you take steps towards business restructuring, remember to observe every action you make to see if you are progressing. This is particularly crucial if you have acquired funding to save your business. There is no need to waste your time and money on undertakings that do not bring substantial value to your business.

The coronavirus pandemic is already a global disaster in the business world. It's your responsibility to strategize by coming up with favorable options to save your business during and after the crisis. Consider using the techniques discussed above to help you restructure and enhance your business after a pandemic.

If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email!
Please Login To Post Comments...

More From This Author
What does Workplace Safety Mean in 2020?
9 Key Questions a Family-Friendly Realtor Will Ask
Professional Development Advice from Seasoned Entrepreneurs
How to Make Your Executive Resume Stand Out
3 Common Mistakes Student Renters Make
Latest Entrepreneurial Updates
Six Best ways to finance a new Business

Six Best ways to finance a new Business

If you are fed up with your 9 to 5 job and want to start your businesses, this could be exciting, but, first of all, you need to be creative if you want to turn your idea into reality.  The first ...more
Nouman Ali • 18 Views • September 17th, 2020
Be your own Boss. Residual Income and Assets with Karatbars International.

Be your own Boss. Residual Income and Assets with Karatbars International.

Karatbars Overview Karatbars International, an E-Commerce Company, has made available “a simple wealth building system” for everyone on the planet who is 18 years of age and over with 3 Optional ways ...more
maria wone • 80 Views • August 29th, 2020
Master P Introduces Black-Owned Brands to Replace Aunt Jemima and Uncle Ben

Master P Introduces Black-Owned Brands to Replace Aunt Jemima and Uncle Ben

Rap mogul and entrepreneur Master P has introduced a new line of Black-owned products to directly compete with Aunt Jemima's pancake syrup and Uncle Ben's rice products. His products include Uncle P's ...more
Will Moss • 1,944 Views • August 19th, 2020
S.A.V.E. Sistaz Advocating Via Economics™ Radio Show

S.A.V.E. Sistaz Advocating Via Economics™ Radio Show

S.A.V.E. Sistaz Advocating Via Economics™ Season I, Episode 5 of this special broadcast is hosted by Beverly Black and made possible by generous sponsors and guests to help bring a wealth of knowle ...more
Beverly Johnson • 103 Views • August 18th, 2020
Black Community Investors,

Black Community Investors, "The 10k Project"

A Community Of Black Investors Who Can Fund Black Businesses For As Little As $100.00 https://the10kproject.com/ ...more
Phil James • 316 Views • July 21st, 2020
Popular Entrepreneurial Updates
New Era presents Tradition HBCU Apparel Collection

New Era presents Tradition HBCU Apparel Collection

BUFFALO, NY (Sept. 2008) - New Era Cap Co., Inc., the leading headwear designer and manufacturer, announced that it will team up with Tradition, an Atlanta-based apparel design company, to launch "Ne ...more
Reggie Culpepper • 15,699 Views • October 17th, 2008
Featured Business: Dangerous Negroes?

Featured Business: Dangerous Negroes?

The Black community is currently in a state of social and cultural recession where negative stereotypical behavior is not only condoned, but glorified. Hip Hop culture, which had noble beginnings, has ...more
Daniel Moss • 9,267 Views • October 10th, 2006


We are proud to announce a great new benefit for the HBCU Community. HBCU Connect has partnered with Living Waters Group LP to provide our students, parents, alumni, faculty, and fans with affordable ...more
Daniel Moss • 7,702 Views • January 12th, 2007
Meet the Only Black Woman in the U.S. Who Owns Her Own Bank

Meet the Only Black Woman in the U.S. Who Owns Her Own Bank

Meet Kiko Davis, the majority owner and stockholder of Detroit-based First Independence Bank, one of the top 10 largest Black-owned banks in the United States. This makes her the only Black woman in t ...more
Will Moss • 6,462 Views • June 8th, 2020
African American Graduation Announcements available at SweetBerryLane.com

African American Graduation Announcements available at SweetBerryLane.com

Sweet Berry Lane gives African American Graduates a welcomed option from sending the normal generic graduation Announcements. By providing Graduation Invitations that reflect the African American cu ...more
Yolanda Jones • 6,041 Views • March 26th, 2010
Please Give Us a Like on Facebook!