Auburn Management Professor Gives Advice to Help Small Businesses Survive Coronavirus Shutdown

By Auburn University

Dave Ketchen, the Harbert Eminent Scholar and professor of Management in Auburn University’s Harbert College of Business, offers advice on how small businesses can survive the effects of the coronavirus shutdown.

In what ways will the coronavirus impact small businesses and what is the breaking point to where these businesses simply can’t take any more?

Loss of revenue is the biggest worry for most small business owners. Few owners have large stashes of cash in the bank and their ability to borrow is quite limited. Instead, they depend on weekly sales in order to pay their bills. Hopefully suppliers will work with their small business partners by relaxing payment deadlines. We’ve seen examples of that happening and it is in suppliers’ best interest to help their small business partners stay afloat. Suppliers make nothing from a bankrupted customer.

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