How Small and Mid-Sized Businesses Should Deal with Coronavirus

There is a lot to do, but the first steps are making the hard decisions and having a technology plan in place.

The outbreak of COVID-19, known to most as Coronavirus, has hit the markets and global economy almost as fast as it has infected citizens throughout the globe.

Fears regarding the virus have resulted in huge market declines, volatility, and now, multiple halts in trading. The business world can, and seemingly will, unravel quickly.

In the days and weeks since the spread of the virus, COVID-19 has transformed what many investors considered a bull market into one just that’s trying to keep its head above water.

“That’s why businesses need to be ready with a disaster recovery plan at the drop of dime,” says Mike Boyle, a business transformation coach and division president at RCM technologies.

Being hit hard are sectors ranging from retail to technology to manufacturing, and as the virus picks up steam, a recession is likely coming that could extend into 2021.

Under even more strain than those large conglomerates, small to mid-sized businesses are going to be affected tenfold; they don’t have the same economies of scale and…