How Would Another Brief Shutdown Affect Tuscaloosa?
One of the major topics of discussion this political season was the handling of the COVID-19 pandemic. There have been criticisms from many different angles. Some say the virus isn't a big deal and that more people are killed by the flu each year. Others contend that not enough has been done to reduce the rate of infection among the masses.
Even President Trump and now President-elect Joe Biden went head to head during debates with Biden being accused of planning to shut down the economy should he be elected and Biden contending that he has no plans to shut down the nation but to do what is necessary to gain control of the virus and that if it means a four- to six-week lockdown at the advice of leading medical experts, he would be in support. Source.
So, what would that mean to our local economy?
The fabric of Tuscaloosa is small business. Of course, there are major employers from education, healthcare, automotive, and manufacturing industries. However, entrepreneurship provides a consistent monetary flow in our communities.
Back when Alabama Governor Kay Ivey issued the stay at home orders as the rate of infection appeared to skyrocket in the state, numerous businesses were caught off guard and were not able to sustain themselves through the crisis.
However, this time around, because Biden's presidency has not yet begun, no immediate orders will go forth. Yet, there is definitely the potential for such after his inauguration. Therefore, it would be wisest for entrepreneurs to prepare for temporary closure by attracting new customers ahead of time and simultaneously decreasing or maintaining costs.
How exactly does that work? Well, advertising is essential, for starters. For example, if a $500 campaign generates new customers who spend $1,000, the company has not only maintained its income, but it has also created a surplus. A portion of that surplus should be tucked away for the impending rainy day, which has already been forecasted.
This really isn't rocket science. A temporary adjustment in regular activity might be inconvenient, but proper preparation could put local economies on the road to restoration quicker.
It's similar to the way that fasting resets the body's systems to begin adequately functioning rather than making small modifications to one's diet. The more radical approach might be more uncomfortable at the onset, but could create quicker results.
Considering the fact that we already know a brief interruption in business could be coming, do you think our businesses are more equipped to handle it or do you think it would be the death of local businesses? What are your thoughts?
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