The Impact of Corona Virus On SMBs

The Impact of Corona Virus On SMBs

The Coronavirus Pandemic has threatened the world and completely locked us down. There is a massive economic breakdown and chaos everywhere. Thereby, posing serious threats to SMBs

As Claire Kramer Mills, assistant vice president at the New York Fed puts it, “Small businesses nationwide now face unprecedented challenges as the country grapples with the significant economic and social effects of the COVID-19 pandemic.” It is hard to deny the fact completely. With a rise in the graph of affected people, small stores and restaurants are struggling to survive the severe effects of this pandemic. 

New York Fed came up with a report that shows the business decision when faced with a 2-months disruption. Even when it is getting worse each day, many SMBs are still keeping up their hope.

What Should the SMBs Do Now?

Smart steps SMBs can take in such a critical situation:

  1. Determine what to pause right now
  2. Prioritize what’s necessary
  3. Make an impressive online presence
  4. Keep your customers’ updated
  5. Help each other in this time

A Helping Hand

Well, here’s good news for all the SMBs. ClouDhiti – an AI app marketplace, brings you all their AI-powered apps on a three months free trial. The app marketplace includes AI apps like chatbots, business analytics applications, anomaly detection applications. Where AI-powered apps are highly-priced, these apps were made for the SMBs and thus had a much lower price compared to other AI-apps available in the market. But with COVID-19 being a rising issue for economic depreciation and SMBs being targetted.

Even in this critical situation, they can cope with it by implementing AI and analytical solutions to their store. Imagine deploying an automated chatbot that can keep visitors engaged 24/7 in your absence. Or an analytical dashboard that offers AI insights to your most frequent customers and reaching them in such situations can bring up their business graph. Check out our apps with a free trial offer.