Many employees in India were forced to work from home under the CAR rule. The businesses with company registration were told by the government to keep paying salaries and ensure that employees are taken care on financially. Your employees may feel optimistic about the future of their job if unemployment claims hit all-time highs. Help them stay centered by reminding them of their interest and investing in their highest level of success.

In periods of hardship, most businesses cut budgets and delay plans. The Covid-19 pandemic has brought chaos into even the most prepared companies, but the ones that emerge from the ashes will not wait for clearer weather. As countries struggle with plans to rebuild their economies, businesses now face how and when workers can be brought back safely.

This job is difficult for company owners to tackle with many variables. The safety standards can vary by state, so businesses around the country must keep up to date with the different guidelines. Keeping matters even more complicated, some businesses fail to implement general guidance for employers or explain their responsibility for keeping workers safe.

DO – 1. Grow or improve your products

Without pandemic essentials like toilet paper, hand sanitizer, or Netflix shows, your operation has probably slowed down. Use this opportunity to discuss opportunities for enhancing your goods or services.

It is not a bad idea to offer other services as this one is an effective way for small businesses to respond to an emergency. There must already be a few holes in your schedules, so it is the best time for your business to experiment with new business lines. 

Rather than maintaining current systems and drumming your fingers, consider which enhancements will help you sell more or provide a better user experience. This could be your company’s only artificial slowdown, so don’t waste the opportunity by taking a partial holiday while other goods make yours redundant.

DO NOT – 1. Automatically adopt a company-run temperature-taking operation

The temperature of workers is like an intelligent indicator of health when you consider organizational challenges. There are three main areas of concern:

• Keeping biometric data confidential once you obtain it.
• Figuring out how to pay workers while standing inline.
• Keeping people in that line secure, despite the social distance imperative.

To be sure, employers do not have an option in this matter because some states do issue reopening guidelines urging companies to continue taking temperatures from their workers.
Know if your business in a hotspot zone and take measures accordingly. You need to do away with the issues related to data privacy created using instant-read thermometers.
The key is to collect as little data as possible and not overwhelm your IT systems with health data that might not be useful in the long run.
When you can’t teach anyone to take temperatures, try to communicate with (medical practitioners) for temperatures as they have the appropriate equipment and training.

DO – 2. Pivot to address a changing world

Imagine that the pandemic will not be gone for months. Imagine people don’t come back to work or shopping onboard. And if the much-anticipated return to normality never happens? Many businesses would collapse and die, waiting to gain back the lost control. Smart leaders must understand that the world has forever changed and created strategies to prepare for the next.

While the chances of returning to normalcy look bleak, one cannot overlook the opportunities that lie ahead. Though changed, the show must go on. Now, it may be possible to pivot your offerings to digital services, like gyms, or become takeout/pickup only restaurants, etc. The opportunities are endless when it comes to continuing growing and diversifying the business offerings.

Many industries are waiting for a pandemic to end without realizing that it has already done and irreversible damage. Consider how your business can take on a new form of market and build a plan around this idea.

DO Not – 2. Provide quip your team with masks without a suitable procedure in place

Again, some government orders may allow you to deliver masks to your team. For some instances, this order will not be supplemental, and it will be the duty of the company to decide a strategy to get adequate supply to keep it clean and teach workers how to wear it properly. Another question: what is your response when an employee decides to wear a bandana rather than a mask?

Ensure that everyone adopts a policy on wearing and disposing the mask regardless of what business you are in. The workplace should be put on equal footing when it comes to coping up with the post-pandemic safety.

Do – 3. Look for partnership opportunities

Covid-19 has put several stressors on local organizations and service providers simultaneously. The best time to deal with layoffs is not fun, far less if consumers are fighting to pay their bills.

One of the best ways to charge up yourself is to indulge in a business partnership. For instance, a compliance solution provider partnered with international payment solutions providers and are offering a Payoneer coupon to its clients. It is reasonably possible to find meaningful partnerships in tough times as it provides you with the platform to build life-long corporate relationships.

Do NOT. 3: Don’t forget to come up with a plan for how to handle visitors to your office

Even the cautious steps that you take to protect your employees are uncertain if you do not know how third-party visitors to your office will handle, whether they are packaging suppliers or consumers. Vance recommends most businesses to post signs outside their buildings from retail firms to business services companies, warning people not to enter if they have had COVID-19 symptoms or have been in touch with someone who has been affected recently. In general, they also stipulate that the receptionist is called instead of going in.

Conclusion

We have reached an environment where virtual physician visits and takeaway cocktails are the norms. They won’t want to go back until the virus is contained.
And what is something you need to do as an entrepreneur? Here’s my advice: If a law has changed and you see a possibility, create enormous value for people. Let them love you! Let them love you! Could you not make them want to see you go? In this way, you will only be the first to get a brand new business opportunity — which is why it remains.
The planet is going to be changed. You can either take the lead and create a transition or wait until you become a part.

The post 3 Do’s and Don’ts you must follow as you resume your business activities appeared first on Today News Spot.

One of the most common reasons why businesses are failing is that corporations either neglect enforcement or neglect law enforcement that are nothing but regulatory compliance. It involves businesses to take certain actions to satisfy a certain request or order. The act of obeying a certain command, law, or requirement is known as compliance. Such compliances are the backbone for any businesses since most of the business activities depends on it. Also, following the compliance measures reflects a good startup hygiene and therefore, can win investors’ trust in future.

Here are few of the crucial reasons why compliance acts as a backbone for your startup.

Getting the Right Start
You may have an awesome idea and the right funds to get your project up and running. However, even before calculating profit and loss statements or recruiting a team of professional people to work for you, the first thing you need to do is register your business. You can register a private company or an LLP but most of the startups in India benefits when they register private limited company online. Without such registrations, the company won’t last at all. In fact, it never ‘exist’ in the first place. There are so many startups and existing businesses that later fall into deep waters due to not being licensed.

Maintaining Books of Accounts
Account books are corporate transaction documents or financial information. This is managed by business organization under accounting rules that includes Paper Ledger, Bookkeeping, Defaulter List, Profit and Loss Report & Balance Sheet. According to corporate law, account books must be held for 8 years.

Filing Necessary Returns
Filing income tax return is more important at a time when the governing bodies are tracking all those who have lost out or have cheated by not paying up. A return is a document containing income information that a taxpayer will file with the tax authorities. A licensed dealer files GST returns monthly and quarterly. Just another word of caution is that failure to file income tax returns and GST returns returns is a big non-compliance problem, which can shut down your startup. A return is a form(s) filed with a taxing authority documenting revenue, expenditures, and other tax details. Until assessing an organization’s tax, reports, accounts, regulatory records, documentation and vouchers, it is important to examine how much financial statements and non-financial disclosures that provides an accurate and fair view of the company’s business.

Ensuring Employee Retentionv
One of the main assets during a startup’s initial phase is recruiting and retaining employees. Possibly you are building an A team for your company and you will have to comply with their contracts, payment systems, recruiting methods, etc. Focus should be on providing a secure, competent and open atmosphere for employees to ensure better retention. Prioritizing compliance would make them feel better not to be penalized for non-compliance. It also keeps workers motivated because they feel suitably paid for the amount of work they do. The better, the harder they work.

Facilitate Brand Protection
Many compliance comes into play when startups shape up to become brands. Intellectual properties are synonymous with branding features that act as an advantage when the product marches on the market. The most valuable of all assets a company can have is intellectual property, and ensuring security of intellectual property rights in India is extremely important. Taking advantage of IPR by creating a distinct corporate identity independent from rivals. As a business you can also offer other your IP to other businesses or license it, such that it adds to the revenue stream. Alternatively, it also help you avail protection loans for IPR that covers the company’s follow-up name and brand specific designs to avoid infringement cases.

Getting the Right Permissions
Each startup must take the required approvals by applying for the required permits and licenses. The first license you need is the business license that allows you to do your business. For instance, you would require FSSAI for starting a food business and the same goes for other businesses depending on its nature. And there are many other certificates you need, such as fire department permits, state licenses, and some even from the health departments.

Final Words
Expanding your company to the global community would later require a highly strict company and not doing so could mean facing fines from several regulatory bodies. Startups should then look at compliance as an expenditure made to preserve business for the future.
If so much has been put in, why gamble it all by not following the fundamentals easily followed and adhered to? There are occasions when non-compliance won’t affect your company immediately, but you’ll be found sooner or later. Today, being safe is better than later being sorry.

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