Given the impact of the Covid-19 pandemic on our society, communities and small and micro-businesses, the path towards reopening businesses may seem daunting. Yet, times of change can provide the opportunity to evolve capabilities, create more effective operating models, develop a strong culture of trust, engage with customers, and prepare for the next disruption.
That was the message for small business at the launch of a new publication by Resilience First titled ‘Re-emergence Guide – Building Small Business Resilience’ on 14 September 2021. The guide is based on an earlier version (2020) produced by Facebook's Global Resiliency practitioners and industry experts for the US market. This version has been modified, expanded and adapted for the UK market with the help of leading law firm Russell-Cooke, but its central themes are relevant for small businesses globally.
The guide is a practical first step in the journey to building small business resilience, with strategies around business recovery and how to survive and thrive as an organisation. It details the eight pillars of business resilience: Prepare, People, Process, Patrons, Profits, Place, Promotion and Practice. Each of these pillars consists of an overarching goal, a checklist of key considerations and an opportunity to reflect and create actions to evolve the business for successful re-emergence.
Launching the guide, Robert Hall, Director of Strategy, Resilience First, said: “In many ways, SMEs are more flexible and adaptable than larger organisations in coping with change. But tight cashflows and labour constraints are important factors that hinder the realisation of opportunities. This guide has been prepared to help SMEs build their resilience not only to bounce back better but also to bounce forward.”