Artificial intelligence (AI) is disrupting and revolutionizing almost every industry, including accounting and financial planning.

From saving time and gaining valuable insights into financial patterns and client behavior, accountants and accounting firms can benefit from adopting AI technologies in many ways. But how do you know if it's time for your firm to invest in AI accounting software?

It's natural to feel hesitant when it comes to adopting new technologies. The fear that artificial intelligence will replace human labor is widespread, but in most cases, this fear is unfounded. Think of AI like a trusted financial advisor, not your competition-in reality, artificial intelligence is best used to augment accountants' current responsibilities, rather than replace them altogether.

Some experts claim that artificial intelligence for accountants can help reduce costs by up to 80%, and even reduce the time it takes to perform tasks by 80-90%. If your accounting firm falls behind the curve by hanging on to analog, repetitive tasks, you run the risk of losing business to forward-thinking competitors who can get the job done faster-and better.

Embracing AI (ideally before your competitors) will do more than help you stay on the cutting edge-it will also give you the opportunity to upskill your current staff and offer a broader portfolio of services so you can generate more revenue and scale your business.

In this post, we'll take a look at how AI accounting software is transforming the accounting industry, as well as 8 tasks you can automate with artificial intelligence for accountants. Let's jump in.

AI can be used in myriad ways to streamline operations and improve the quality of your services.

Here are a few ways artificial intelligence is already transforming the accounting industry:

• Automated accountants and bookkeepers: Currently, only 34% of financial tasks are automated, yet estimates suggest that 60-80% of historical accounting activity could be automated. Robo-accounting is projected to replace 40% of accounting work such as payroll, uploading files, auditing, inventory, and accounts payable and receivable, improving accuracy and efficiency and freeing up time for accountants to focus on higher-value activities rather than rote tasks or data entry.
• Invisible accounting: AI is excellent at constantly gathering, sorting, and visualizing data to improve business efficiency. By implementing artificial intelligence, the risk of human error and potential lawsuits is greatly reduced. AI accounting software can unearth potential financial fraud risks and minimize human errors such as duplicate invoices, automatically assign expenses correctly to avoid unnecessary expenses, and even invisibly manage compliance as regulations become more complex.
• Optical character recognition (OCR): Optical character recognition technology can scan digitized physical documents to extract data quickly, such as receipts, invoices, purchase orders, and other relevant documents. This data can be automatically fed into other systems, eliminating the need for manual data entry and freeing up time for accountants to focus on higher-value tasks. By rapidly evaluating massive data sets with OCR, AI accounting software can also provide actionable insights that executives can use to make data-driven business and strategic decisions.
• Robotic process automation (RPA): Robotic process automation (RPA) is used to perform repetitive, low-value, and high-volume tasks, and can save an accounting team of 40 people over 25,000 hours of annual work. Examples of actions software robots can execute include: filling in forms, completing reports, extracting, copying, and inserting data, and moving files and folders. By implementing RPA into your accounting firm, your accountants will be freed to do tasks they enjoy, such as collaborating with colleagues, innovating, strategizing, and interacting with customers, leading to increased cost savings, efficiency, ability to take on higher demand, improved compliance, and resiliency, even in a volatile market.
• Analytics: AI accounting software unlocks powerful predictive and prescriptive analytics capabilities. Predictive analytics can be used to anticipate future outcomes, such as forecasting sales and demand planning. Prescriptive analytics, on the other hand, provide raw data that can be used to compare financial decisions, such as suggesting the exact materials or services a client may need to improve output and increase sales.

Artificial intelligence has an incredible return on investment (ROI) with minimal upfront costs and high potential to rapidly scale your small accounting firm. By automating monotonous tasks, AI will maximize productivity while allowing accountants to focus on more creative and mindful tasks that generate more value for your business.

An accountant can also analyze AI data to find valuable insights and business intelligence to improve processes and identify trends. This kind of time-saving automation will allow accountants to spend extended time with their clients, leading to more meaningful conversations that can save time in the long run by fully understanding their clients' needs and expectations from the get-go.

Here are 8 tasks firms can automate with artificial intelligence for accountants:

Automated expense management can eliminate the need to track spending with paper receipts. Simply upload receipts with a picture and allow the software to submit expenditures to the books directly. An automated workflow can also incorporate an approval process for employee reimbursements as well as instantly match data from company credit cards to receipts.

Payroll is one of the most tedious aspects of accounting. Sifting through tax documents, employment types, and employees' work hours can be easily automated with existing AI accounting software suites. Automated payroll can assist with releasing payments, inputting data, and calculating employees' net pay, freeing up time to focus on higher-value tasks that will generate more revenue for your firm.

Bank reconciliation involves matching bank statements with accounting records to correct any missing or duplicate entries. In addition to fetching data, AI can also generate automated reports for added time savings. Automating bank reconciliation catches fraud in real-time to limit a clients’ risk to exposure. With AI accounting software, you can automate bank reconciliation for your firm, as well as for your clients.

Accounts receivable has the highest impact on determining a small business’ bottom line. Accounts receivable includes sending and tracking invoices and collaborating with various stakeholders such as finance, sales, and customer service, and presents multiple opportunities for human error. With automated AR, accounting practices can easily gain faster approvals, automatically send customers payment reminders, and produce accurate invoicing with minimal effort.

Use automated accounts receivable software to:

• Classify accounts to prioritize collection and ensure account information is up-to-date
• Predict and forecast remittance-quickly identify which customers are likely to make late payments, or no payments at all
• Send and receive correspondence with the right tone and content to help your firm collect payments on time
• Track payments automatically
• Collect metrics that provide valuable insights into cash flow, trends, and other customer behaviors

Accounts payable covers all payments owed by your business or your clients' businesses, such as bills, rent, and vendor invoices. Automating accounts payable allows for a reduction in time to payment so that small businesses can reduce late payment fees and maintain a good relationship with their customers and suppliers. AI accounting software can handle:

• Initiating payments to suppliers
• Collecting bills in a central location
• Adding transactions to accounting software
• Automating the approval and sign-off process for invoices
• Managing documents easily, with a searchable paper trail that makes it easier to maintain regulatory compliance or find the documents you need when you need them

Automating accounts payable, freeing up time for accountants to focus on other work. It can also reduce the chance of error, since data is automatically extracted from invoices and bills and classified accordingly.

During tax season, accounting professionals can benefit from delegating tasks to AI. Automated tax compliance and financial reporting software can prepare tax returns, create financial statements, update taxes based on current rates and location, and even predict future revenue. By handing off labor-intensive and complicated reporting to artificial intelligence algorithms, accountants will have added time to identify trends and forecast results.

AI’s ability to audit documents has helped some accounting firms realize productivity gains of over 40%. With financial data housed in one cloud-based location, accountants will have centralized access to financial data that was previously spread across individual spreadsheets and devices. Consolidated databases and AI-powered machine learning processes make it easy to audit an organization's entire financial profile instead of using data samples, providing a big-picture view that will allow accountants to analyze financial patterns and reduce risk.

Accounting firms are regulated by internal corporate, local, state, and federal regulations. AI accounting software can help ensure compliance by flagging documents that don't meet or otherwise violate rules and laws in your jurisdiction, reducing your firm's risk. Machine learning algorithms and artificial intelligence for accountants can quickly review vast amounts of data to identify possible fraud concerns or suspicious activity that might otherwise have been missed by human review.

AI accounting software offers a variety of benefits for accounting firms, from drastically reducing time spent on repetitive tasks to unearthing powerful insights and freeing up time to strategize and consult.

Purchasing and implementing AI accounting software requires an investment of capital in order to purchase and implement the new technology, as well as train existing staff on how to make the most of AI in accounting. Alternative funding options like merchant cash advances can provide a fast infusion of working capital to help you invest in AI accounting software and provide training without losing speed. Merchant cash advances offer a number of advantages over other forms of small business funding, including:

• Simplified applications with less paperwork and less rigorous approval requirements.
• Faster processing and approvals, with funding sometimes available in as little as one business day.
• Greater flexibility and more room to negotiate terms.

With funding from as little as $3,000 up to $500,000, Bluerock Options® can help accounting firms and small business owners access flexible merchant cash advance funding to help purchase and implement AI accounting software.

1. “Artificial Intelligence In Accounting And Finance.” Bernard Marr. Bernard Marr & Co.
2. “How Will AI Affect the Future of Accounting?” Emporia State University. August 23, 2021.
3. “The future of AI in accounting: Part 1 - What is AI?” Jim Eicher. Becker. November 10, 2021.

Between 2014 and 2019, the number of women-owned businesses in the USA grew by 21%-that's more than double the growth rate for new businesses overall.

Small businesses that are owned by women can apply for an official woman-owned business certification from the Small Business Administration (SBA), as well as authorized third-party certifiers like the Women's Business Enterprise National Council (WBENC) and National Women Business Owners Corporation (NWBOC).

Registering for a woman-owned business enterprise (WBE) certification provides small businesses with a number of compelling benefits. Most prominently, the SBA's Federal Contracting Program designates that 5% of federal contracts must be given to businesses with a woman-owned business certification in specific industries in which women-owned businesses are underrepresented.

Women-owned businesses can apply for three types of certification:

1. Woman-Owned Small Business (WOSB)
2. Economically Disadvantaged Woman-Owned Small Business (EDWOSB)
3. Women's Business Enterprise (WBE)

WOSB and EDWOSB certifications are offered by the SBA and enable businesses to participate in federal programs for women-owned businesses. WBE certification, on the other hand, is offered by approved third-party certifiers, and is typically accepted by private organizations and municipal governments. If you receive a WBE certification from an authorized third-party certifier, you'll also qualify for WOSB and EDWOSB certification through the SBA.

In this post, we'll explain everything you need to know about receiving a woman-owned business certification, including:

• When to get certified as a woman-owned business
• SBA programs for woman-owned businesses
• Obtaining a woman-owned business certification through third-party certifiers
• Woman-owned business requirements
• How do you register as a woman-owned small business?

Let's get started.

While getting certified as a woman-owned business does provide a number of advantages, certification is not always necessary or beneficial. If you're considering applying for a woman-owned business certification, ask yourself these two questions to determine if it's worth pursuing:

1. Are your products and services targeted to corporations, retail, and/or government agencies? Corporations and government entities work with organizations like the SBA and WBENC to uncover sourcing opportunities with woman-owned business enterprises. If you work with or are hoping to work with these kinds of organizations, getting your WBE certification can help you get a foot in the door.
2. Can you service large contracts? Corporate, retail, and government contracts may be larger than what many small businesses are used to. If your business is unable to handle larger contracts, it may not be worth pursuing your WBE certification.

The Small Business Administration (SBA) offers two certifications for WBEs: Woman-Owned Small Business (WOSB) certification and Economically Disadvantaged Woman-Owned Small Business (EDWOSB) certification. Businesses can self-certify for free.

Both programs require annual renewal in order to maintain eligibility for the WOSB Federal Contracting Program. Additionally, firms must undergo a program examination conducted by SBA or a third-party certifier every three years.

Let's take a closer look at these two programs and their certification criteria:

With WOSB certification, your business will be eligible to compete for federal contracts set aside for the WOSB Federal Contracting Program, which stipulates that 5% of federal contracts must go to businesses with WOSB or EDWOSB certification.

To qualify as a WOSB, your business must meet the following criteria:

• Your business must be at least 51% unconditionally and directly owned by women who are U.S. citizens.
• The woman or women must manage daily operations, make long-term decisions, and hold the highest officer positions available.
• They must also work at the business full-time during normal working hours, though there is no minimum amount of time for the business to be considered operational.

To qualify for EDWOSB certification, your business must meet the following economic requirements in addition to the WOSB criteria listed above:

• The business owner's personal net worth must be under $750,000
• The business owner's adjusted gross income average over three years must be less than or equal to $350,000
• The fair market value of all assets must be less than $6M (excluding equity in business and primary personal residence, income reinvested or used to pay business taxes, and funds invested in official retirement accounts if they cannot be accessed till retirement)

If you meet the economic requirements for EDWOSB certification, the SBA recommends applying for this certification over WOSB. Because some federal contracts are further restricted to economically disadvantaged women-owned small businesses, EDWOSB-certified businesses are eligible to bid for more contracts than WOSB-certified businesses.

The SBA recognizes WBE certification from four authorized third-party certifiers:

1. Women's Business Enterprise National Council (WBENC)
2. National Women Business Owners Corporation (NWBOC)
3. U.S. Women's Chamber of Commerce (USWCC)
4. El Paso Hispanic Chamber of Commerce

WBE certifications from these organizations are recognized by state and local governments as well as other private corporations. To qualify for the SBA's WOSB Federal Contracting Program, your business will still need to self-certify as a WOSB or EDWOSB. If you've already received a WBE certification from one of these authorized third-party certifiers, your business will also meet the criteria for SBA certification and the self-certification process should be relatively simple.

Third-party organizations will charge application fees, but unlike the SBA, they also offer additional benefits such as access to expert consultants and other support.

Let's take a closer look at these four third-party certifiers.

The Women's Business Enterprise National Council (WBENC) is the largest certifier of women-owned businesses in the U.S. WBENC partners with 14 regional partner organizations around the country to provide certification.

In addition to being accepted by the SBA, achieving WBE certification from WBENC offers a number of woman-owned business benefits, including:

• Access to supplier diversity and procurement executives at hundreds of major U.S. corporations and government entities that accept WBENC certifications
• Inclusion in WBENCLink2.0, an online database of WBENC-certified businesses
• Formal and informal opportunities to pursue business with corporate and government members, as well as other WBENC-certified businesses
• Access to networking events, procurement opportunities, mentoring, executive education, capacity development programs, and other business tools and resources
• Eligibility for regional and national recognition and awards
• Use of Woman Owned Logo and Women's Business Enterprise Seal as a marketing tool
• Opportunities to promote your business within the WBENC network through sponsorship and participation in national and regional events, contributions to the WBENC blog, speaking opportunities, and more.
• Access to a community of support from other female business owners and like-minded professionals, including opportunities to promote your business within the WBENC network through sponsorship and events, speaking opportunities, and more.

To receive certification, WBENC requires businesses to meet the following woman-owned business requirements:

• Majority (at least 51%) ownership by one or more women
• Demonstrated proof of female management and control of business
• Unrestricted female control of the business in legal documents and day-to-day operations
• A woman holding the highest defined title in the company's legal documents
• Documented evidence of female contribution of capital and/or industry expertise
• Status of U.S. Citizenship or Lawful Permanent Resident for woman owner(s) constituting majority ownership

See a full list of WBENC documentation requirements.

WBENC charges a processing fee for new applications as well as for recertification. The fee ranges from $350 up to $1,250 depending on your annual gross revenue as reported on your federal taxes.

The National Women Business Owners Corporation was the first national certifier of woman-owned businesses in the U.S. NWBOC offers WBE certification using the same criteria as the WOSB program, as well as a "Certified Plus" program for members who successfully complete NWBOC's supplier development program. "Certified Plus" offers these additional benefits:

• More visibility and credentials for potential corporate buyers
• Taking the business owner through the buyer supplier process and addresses quality control, customer service, scalability and defining a value proposition

NWBOC charges a one-time application fee of $400, with annual recertification fees between $200 and $400 depending on the size of your business.

The U.S. Women's Chamber of Commerce is also an SBA-authorized third-party certifier for WOSB and EDWOSB. In addition to WBE certification, they also offer a program called Certification Assist, which provides support for businesses before they formally apply for WBE certification, including:

• Help organizing documents and preparing applications
• Troubleshooting potential issues with prep and eligibility
• Answering questions and concerns before formally applying for certification

USWCC also offers National Women's Business Enterprise (NWBE) certification and International Women's Business Enterprise (IWBE) for corporate and regional governments. If you receive WOSB or EDWOSB certification, you may also secure NWBE or IWBE at no additional charge.

There is a $275 application fee for USWCC members, while non-members will be required to pay an application fee of $350.

The El Paso Hispanic Chamber of Commerce provides support and WOSB certification for businesses in the southwest Texas border area through the Women's Business Border Center.

Eligibility requirements differ by organization and specific certification, but in most cases your business must have more than 50% female ownership to attain a woman-owned business certification. The woman or women must also be the ones who manage daily operations and hold the highest officer positions available.

You'll need to meet the following woman-owned business requirements in order to receive a WBE certification:

• The majority owners must be U.S. citizens
• The company must be a for-profit
• The company must have a place of business in the U.S. and operate primarily within the U.S., or make a significant contribution to the U.S. economy through payment of taxes or use of American products, materials, or labor.
• The business must meet industry-specific size standards based on revenue and number of employees. Start by looking up the North American Industry Classification code for your business or simply do a keyword search with the SBA's online tool. Then, enter the NAICS code and your 3-year annual average revenue. Look for a green check mark that shows you meet the size requirements.

Be prepared to provide the following business documentation:

• Company name and fictitious business name ("Doing Business As" DBA) certificate
• Owners' names, addresses, and company website
• The company's legal structure
• Incorporation date
• Articles of organization/incorporation, partnership or joint venture agreements, voting agreements, and any amendments to these documents
• A list of each proprietor, partner, shareholder, or member within the 12 months preceding the date of the application
• Statement of information filed with Secretary of State listing officers, directors, managers, members, or general partners
• DUNS number (from Dun & Bradstreet)
• Any affiliate relationships
• Contact information for regular clients
• Employee information, including resumes of all owners, directors, partners, officers, and key personnel
• Authority to conduct business in the state and/or certificate of good standing issued by Secretary of State
• Bylaws and amendments
• Minutes of corporate shareholders and directors' meetings
• Shareholder agreements
• Professional, industry, and/or business licenses
• Copy of lease or deed for business location
• Current bank statements for all deposit accounts and loan statements
• Financial statements for three years, including balance sheet, profit & loss statement
• EIN (Federal Tax ID)
• Business and/or personal loans
• Issued stock certificates and stock ledger
• Financial institution signature cards
• Documentation of how the company was capitalized

You'll also need to provide the following personal documents:

• Birth certificates, naturalization papers, or unexpired passports for each woman business owner
• Driver's licenses of all owners
• Three most recent personal tax returns including W-2s and all schedules for each woman business owner and her spouse (for EDWOSB)
• IRS Form 4506-T, Request for Tax Transcript for each woman business owner and her spouse (for EDWOSB). If your business has an 8(a) certification for ownership by economically disadvantaged individuals, and you are also applying for an EDWOSB certification, you may upload your 8(a) certificate and annual review letter instead of the above financial statements.

You can self-certify as a WOSB or EDWOSB for free by applying directly through the SBA. Authorized third-party certifiers may use a different process, but you can expect to follow these steps:

1. Determine your eligibility. Do you meet the criteria set by the SBA or your third-party certifier of choice?
2. Compile documentation. Be prepared with all the required documentation before you apply.
3. Complete your online application and pay any required application fees.
4. Application review and/or site visit. This process can take up to 90 days. Some third-party certifiers, such as WBENC, will require a site visit as part of your application review.
5. Certification determination. The SBA or third-party certifier will determine whether your application is approved and will notify you regardless of the result.

No matter where you're applying, it takes about three months to process your application. You must also recertify annually to continue receiving woman-owned business benefits.

Women-owned businesses can apply for three types of certification:

1. Women-Owned Small Business (WOSB)
2. Economically Disadvantaged Women-Owned Small Business (EDWOSB)
3. Women's Business Enterprise (WBE)

Available through the SBA and authorized third-party certifiers, receiving a woman-owned business enterprise (WBE) certification provides small businesses with a number of compelling benefits, including access to federal contracts through the Small Business Administration's WOSB Federal Contracting Program.

If you're having trouble accessing the funding you need through traditional lenders, even with WOSB, EDWOSB, or WBE certification, direct online lenders like Bluerock Options can help you access the working capital you need to maintain operations, cover unexpected expenses, and continent to grow your business.

Alternative funding like merchant cash advances offer a number of advantages over financing from traditional lending institutions, including:

• No collateral requirements.
• Streamlined online applications with less paperwork and less rigorous approval requirements.
• Faster processing and approvals, with funding available in as little as one business day in some cases.
• More flexibility and more room to negotiate terms.

Alternative lenders typically specialize in innovative forms of funding like merchant cash advances. Merchant cash advances are ideal for businesses who need funding quickly, don't meet the strict criteria of the SBA and other traditional lenders, can't provide collateral, or would prefer not to seek funding from friends or family members. With funding from as little as $3,000 up to $500,000, business owners can access alternative funding that suits their unique needs.

The global home health care industry is expected to grow to $663 billion by 2030. As the population over 65 doubles-on track to outnumber children 18 and younger by 2034-and life expectancy stretches into the upper 80s, there has never been a stronger demand for home health care services.

It isn't only the elderly making use of these services. A third of patients in need of home health care assistance are under the age of 60, suffering from chronic illnesses and in rehabilitation programs, relying on home health care services such as:

• Non-medical home care
• Hospice and palliative care
• Senior care
• Personal care services
• Physical and occupational therapy
• Speech-language therapy
• Medical social services
• Adult daycare
• Nursing care
• Nutritional care
• Pain management

The fear of COVID-19 has fueled the demand for home health care services as an alternative to living in a nursing home or long-term care facility. The pandemic has also led to the rise of 24/7 telehealth services as a convenient and safe way to serve patients. The added pressure created by this increased demand has resulted in an urgent need for home health care services, presenting an opportunity for existing businesses to improve operations and scale growth quickly.

In order for home health care agencies to grow, third-party financing is often required. Typically the first options for home health care businesses are SBA loans and bank loans, but funding can be difficult to access through these sources. With streamlined online applications and more flexible approval requirements than traditional lenders, alternative funding is a fast and easy way to access the funds you need to grow your home health care business, often in as little as one business day.

Read on to learn about 10 ways home health care agencies can use alternative funding to fuel their growth, including:

1. Enhancing or developing new home health care services for seniors
2. Purchasing equipment, devices, supplies, and technology
3. Hiring and training new staff
4. Investing in marketing and advertising
5. Paying franchising fees, and obtaining licenses, certifications, and other continuing education or professional development skills
6. Developing digital solutions to scale your business
7. Managing cash flow and payroll during seasonal fluctuations or delayed/denied insurance claims
8. Covering unexpected expenses
9. Complying with state or federal regulations
10. Retaining staff and managing staff shortages

Let's dig in.

There are no restrictions on how you choose to use the alternative funds for your home health care agency. Here are 10 examples of how you could potentially meet your business goals with alternative financing:

As new health services become mainstream, home health care providers must expand their current list of offerings to remain competitive in the market. Skilled services that home health care agencies can offer include:

• Infusion therapy
• Nutrition services
• Pain management
• Social work
• Speech therapy
• Physical therapy
• Occupational therapy
• Psychiatric services
• Nursing care

Alternative funding can be used to hire new staff members who are trained in these services, to purchase new equipment needed to offer such services, or invest in training or continued education for existing staff.

The increased adoption of advanced home health care devices-like dialysis machines and blood glucose monitoring devices-has made it possible to receive high-quality care at home. Medical equipment and home health care supplies you may need to provide to your patients include:

• Respiratory devices
• Feeding equipment
• Voiding equipment
• IV equipment
• Infusion pumps
• Dialysis machines
• Ventilators
• Hospital beds
• Blood pressure monitors
• Wheelchairs

With alternative funding for medical equipment, you can pay for cutting-edge technology and equipment to provide your home care recipients with the best possible care and service.

As demand for home health services grows, your team must expand. Hiring in anticipation of increased workload can help you avoid overworking your current staff due to burnout. Use alternative financing to recruit, source, and hire new talent so you can accept larger contracts and stay ahead of the curve.

Marketing return on investment (ROI) can be as high as 5:1 or even 10:1, yielding up to $10 for every $1 spent. Using funding to boost your home health care business's marketing and increase revenue is a great use of alternative small business financing. Use your funding to:

• Revamp your website
• Develop an organic SEO strategy, such as adding a blog or hiring freelance writers
• Launch a social media or Google Ads campaign
• Create a referral program to attract new clients
• Sponsor community events such as vaccination clinics or blood pressure screenings
• Speak at seminars or conferences
• Run ads in the local newspaper

Use alternative funding to cover license renewals, franchise fees, or even cover tuition and the cost of continuing education to keep your staff up-to-date and relevant in today’s ever-changing market.

In most states (except Iowa, Michigan, Massachusetts, and Ohio), home health care businesses require a license to operate. The cost to obtain and renew licenses can put a strain on your business's cash flow. The associated costs for franchising can also become prohibitive with an initial franchising fee of up to $40,000 and a total initial investment of up to $400,000, which does not include renewal fees and royalties.

Continuing education for your staff can also come with a high price tag, but is critical for providing the best possible care to your patients, including offering new services.

Improve overall efficiencies by automating business processes to enable your team to focus on their work rather than admin tasks. With alternative funding, you can invest in technology to help streamline simple day-to-day operations, such as online payment processing and patient visit scheduling. You can also use alternative funding to automate financial reporting to keep an eye on revenue and analyze cash flow at any time.

In addition to streamlining your operations, digital solutions can help improve patient care. For example, you could:

• Implement a secure HIPAA-compliant teleconferencing tool to share sensitive health-related information
• Develop tools to remotely monitor patients' vital signs and send emergency alerts as needed
• Create a secure mobile app to send medication reminders

Second only to providing excellent care to your patients, maintaining steady cash flow is one of the most critical aspects of running your home health care business. Don’t let a slow season or delayed Medicare or Medicaid insurance claims stop you from growing your business. Bridging financial gaps with alternative funding allows you to focus on patient care without the stress of limited cash flow.

Sometimes the unpredictable happens-equipment breaks down, employees leave, and new regulations arise. Prepare for the unexpected with alternative financing and never again worry about covering surprise expenses.

As minimum health and safety regulations are constantly improving, it's critical that you ensure your home health services are always compliant with state and federal regulations. Use your alternative funding to pay for coverage requirements such as liability insurance and workers’ compensation.

Retaining staff is one of the most prominent pain points for home health care providers, especially as businesses emerge from COVID-19 lockdowns and face ongoing restrictions. Avoid wasted time spent hiring and training new personnel by keeping your employees happy with fair wages and promotions for outstanding performance.

Home health agencies can also use alternative funding to hire temporary staff. This can be a helpful option when there is a sudden increase in patient volume or if there is an unexpected staff shortage.

Home health care agencies can apply for four main types of alternative funding, each with different qualifications and factor rates. We recommend speaking with one of our Funding Advisors to select the best option for your home health care agency.

Here's a quick overview of the most popular alternative funding options for home health care businesses:

A merchant cash advance gives you immediate working capital in exchange for a percentage of your daily credit and debit card sales. Unlike a traditional term loan, which is repaid in monthly installments, payments for merchant cash advances are deducted automatically from your daily or weekly credit and debit card sales.

Since MCA funding is based on your projected future sales, this option is ideal for agencies with lower credit scores or who might not otherwise meet the strict financial requirements of the SBA and other traditional lenders.

Learn more about merchant cash advances

Invoice factoring is a financing solution whereby an alternative lender will advance up to 90% of the value of your outstanding invoices in exchange for immediate cash. This form of funding is ideal for home health care agencies with at least $15,000 in outstanding invoices and maximum payment terms of 30 to 90 days. Usually, Medicare and Medicaid payments will not qualify as they do not let you sell a claim to a third party.

Learn more about invoice factoring

Collateral working capital is a secured form of financing that uses commercial real estate (not a primary residence) as collateral to reduce the risk to the lender. With this added collateral, home health care agencies may be approved for a higher loan amount than other forms of alternative funding.

Learn more about collateral real estate loans

A business line of credit is a beneficial alternative to a fixed-term bank loan. You can borrow as little or as much as needed and only pay monthly interest on the amount you use-not the entire credit limit extended to you like traditional term loans.

Learn more about alternative business credit

The home health care industry is growing, presenting businesses with opportunities to expand. Alternative funding can help fuel this growth by providing the working capital needed to invest in strategies like proactive hiring, increased marketing, or purchasing new equipment.

Bluerock Options provides unrestricted funding for home health care providers in the USA and Canada with $3,000 to $500,000 in as little as one business day. The application process is quick and easy. Simply fill out an online form and submit at least three months of bank statements. A Funding Advisor will then reach out to you within the hour to discuss your funding options and finish your application. Once approved, you could receive up to $500,000 in as little as 24 hours.

Give your patients the care they deserve. Apply online today for alternative funding with Bluerock Options and scale your home health care business.

According to The U.S Bureau of Labor Statistics, the demand for cleaning services is expected to increase by 11% over the next decade. The increased demand for specialized cleaning services can be attributed to needs that go beyond just cleaning every inch of your house.

In 2022, there is much more focus on cleanliness-not just in homes, but at work as well. While this kind of maintenance has traditionally been something that people have handled themselves, the COVID-19 pandemic has changed many businesses' approach to building maintenance, and there’s a growing feeling that these tasks should be left to professionals who have experience and expertise to handle them properly.

At home, the rising cost of living and the increasing prevalence of two-income households may also be fueling this growth-more people are finding themselves unable to keep up with the demands of their home, so they’re turning to professional cleaners who can make their lives easier.

If you own a commercial or home cleaning business, you may be wondering in what areas you can improve or what could help the growth of your cleaning business. With the cleaning industry increasing in popularity, it's important to stand out from your competitors. Check out eight of our best tips to help make your venture a successful one:

1. Offer a variety of services
2. Develop a marketing plan
3. Train your employees thoroughly
4. Invest in high-quality cleaning supplies and equipment
5. Set prices that reflect the quality of your services
6. Get permits and insurance
7. Establish good customer relationships
8. Budget your project’s funds, then pursue the best financing option for you

Let's jump in.

Cleaning businesses that offer a range of services are more likely to be successful than those that focus on just one or two services. This is because potential customers will see that you’re able to meet their needs, no matter what they may be. You can offer new services like:

• Upholstery cleaning
• Window washing
• Pressure cleaning
• Post-construction cleaning
• Move-in/move-out cleaning
• Disinfecting services
• Home organization
• Green cleaning

It is easier to target a variety of audiences with a range of services. For example, if a business offers both carpet cleaning and housekeeping services, they can target people who want their carpets cleaned as well as people who want their entire home cleaned. Offering a variety of services will also help you attract new customers who may not have considered using your services before.

A marketing plan is a roadmap that will help your business achieve its goals, including strategies for targeting your ideal customers, and how you will reach them. By taking the time to develop a marketing plan, you can save time and money by making sure that you are focusing your resources on the right activities.

When it comes to a home or commercial cleaning service, there are a number of different marketing strategies that can be used to attract new customers. For instance:

• Online advertising
• Direct mail
• Print advertising

These can all be effective ways to reach potential customers. In addition, developing a strong social media presence can help to create buzz and generate leads. By taking the time to develop a comprehensive marketing plan, you can ensure that you are taking the necessary steps to grow your cleaning service.

Employees are the backbone of any business, and it is important to take the time to train them. This includes teaching them how to use equipment and supplies, as well as how to properly clean different types of places and surfaces. By investing in their training, you are ensuring that your team has the necessary skills and knowledge to provide top-notch service. A well-trained staff will provide better service, be more efficient, and represent your business in a positive light.

In addition, well-trained employees are more likely to be satisfied with their jobs and stay with your company long-term. Engaged employees will not only save you money on advertising and interviewing but will also save you time while training new employees. It’s more cost-efficient to keep your existing employees happy and engaged.

One of the most important parts of your cleaning business is your equipment. Using quality products and equipment will not only make your customers happy, but it will also help you achieve better results. This includes:

• Commercial vacuum cleaners
• Carpet cleaners
• Window cleaners
• Pressure washers
• Wet/dry vacuums
• Steam mops
• Auto floor scrubber

Although it can be costly, investing in quality products and equipment will pay off in the form of satisfied customers and repeat business. If you have equipment in need of financing, there are several funding options you can choose from to finance that equipment.

Something like a business line of credit could help you since they are intended to be short-term solutions for financing needs, and most people pay them off within a few months, much like a credit card. A merchant cash advance could also be an option. With a merchant cash advance, you can get working capital when you need it most. We'll receive a percentage of your daily or weekly credit card sales until the advance is paid back.

When setting prices for your services, it is important to remember that you are providing a quality service and should be compensated accordingly. Do your research and find out what other businesses in your area are charging for similar services. Be sure to set prices that reflect the quality of your services and are competitive with other businesses. Also keep in mind that you may need to adjust your prices from time to time, depending on the market.

In order to protect yourself and your business, it is important to get insurance, licenses, and permits. This includes liability insurance, workers’ compensation insurance, and any necessary permits for your business. Having the proper insurance and permits in place will help you avoid any legal problems down the road.

While providing high-quality services and developing trust is important, establishing strong customer relationships is the key to the success of any business. Good customer relationships will result in loyal, repeat customers.

It is important to take the time to build strong, long-lasting relationships while also taking the time to listen to your customers’ needs and concerns. When you take the time to listen to your customers, they’ll feel like you’re truly invested in them and their experience with your company and they’ll be more likely to come back time and time again.

A budget plan is a crucial part of any commercial and home cleaning business. A budget plan will help you to track your income and expenses, as well as give you a clear picture of where your money is going. Additionally, having a budget will help you to make informed decisions about how to allocate your resources.

It's important to note what components are included in your budget so that you don't overspend in one area and fall short in another. For commercial and home cleaning services, variable costs may include things like:

• Cleaning supplies and equipment
• Marketing or advertising
• Costs associated with employees, such as their salaries, benefits, and training
• Travel expenses
• Insurance and permits

Once you have your project's budget ready, you can pursue the best financing option for you. You can begin by figuring out which are your funding needs and find out which lenders offer different types of business loans. Here are some of the alternative funding options available for running a successful commercial and home cleaning business:

There are a number of fast small business funding options that can help home and commercial cleaning businesses take on new projects and continue to grow. Here are 4 popular alternative funding options to consider:

• Merchant Cash Advance: With a merchant cash advance, you can get working capital when you need it most. We'll receive a percentage of your daily or weekly credit card sales until the advance is paid back. Learn more what MCA is & what they is used for.
• Invoice Factoring: Invoice factoring is ideal if you have a long accounts receivable period. You can sell us your pending invoices in exchange for the net amount in cash. You'll receive the balance of the invoices' value when we receive payment (minus our fee). Learn how online invoice factoring for small business works.
• Collateral Loan: A collateral loan is a secured loan that uses commercial real estate to establish creditworthiness and reduce risk. With a collateral loan, you can qualify for a larger amount of money at lower interest rates and fees.
• Business Line of Credit: A business line of credit gives you the ability to borrow funds without having to commit to a fixed-term loan. You can draw as much or as little as you need, then repay it as you go, and only pay interest on the amount you've actually borrowed.

Running a successful cleaning business takes time, effort, and planning. But with the right tools in place, you can streamline your operations and make more money while keeping your customers happy.

The COVID-19 pandemic has altered the way many of us live our day-to-day lives. Some of the adjustments we've made will happily go by the wayside when the pandemic concludes, but some of them are here to stay, including changes in shopping habits, telehealth, and more.

These changes present a number of opportunities for businesses to succeed as we continue to navigate-and eventually emerge from-the pandemic. In this post, we'll explore opportunities for all small businesses regardless of industry, as well as offer some industry-specific business opportunities for medical, retail, and office businesses.

Let's get started.

The shift to online operations and the closure of existing businesses has created a number of new opportunities for businesses to reach their audience or expand. Here are 8 post-COVID opportunities for businesses in any industry:

1. Improve your website: Even if you don't sell products or services online, your website should be up to date and reflect the current reality of how people prefer to conduct business. Review your content to make sure it reflects your audience's changing needs such as researching and purchasing products online, let people know about any changes to your business due to COVID-19, and make sure your website is optimized for search engines so people can find you easily.
2. Revive your social media: As people turn to social media platforms for a sense of connection during a time of physical distancing, these platforms have also become a popular touchpoint for businesses. If you aren't already using your profile to communicate with your audience, such as sharing your COVID-19 safety protocols or changes to your operations or responding to customer inquiries, start now to set yourself up for success as the end of the pandemic draws nearer.
3. Email marketing: Create recurring email marketing campaigns to keep in touch with your customers, notify your audience of any changes to your business, promote sales, or nurture new leads. Begin building a list of interested email subscribers now so you don't have to start from scratch post-pandemic.
4. Focus on connection: Customers' needs and wants are changing rapidly. Keep up with the changes by focusing on how your business can meet these changing needs and communicating any changes clearly with your audience. Think about ways you are currently connecting with your audience and the ways that you aren't-are there any opportunities to connect that you're missing out on, such as new social media platforms or hosting virtual workshops?
5. Invest in real estate: More commercial real estate will become available as businesses embrace remote work and vacate their existing offices, potentially at lower prices, especially for warehouse and production space. Real estate is a big investment for many small businesses, and you may not have the capital you need to make such a large investment. Small business funding such as commercial real estate loans or collateral business loans can help supply the working capital you need to acquire real estate.
6. Invest in inventory or equipment: As other businesses close, more inventory or equipment is likely to be sold at lower costs. If you're considering investing in more inventory, equipment, or heavy machinery, this may be an optimal time to buy. Some lenders offer inventory or equipment financing designed specifically to help small businesses purchase inventory or new equipment.
7. Acquire another business: If you're ready to expand, you may wish to consider acquiring another business rather than opening a new location and starting from scratch. It can be less expensive to purchase an existing business and they often come with an established clientele, meaning you may not have to invest as much in marketing your new location. Like purchasing real estate, acquiring an existing business requires a significant investment. Small business funding like an alternative small business loan or a collateral business loan can help you access the funds you need to acquire another business without compromising your cash flow.
8. Put your employees first: Embrace employee-oriented policies that prioritize the safety, protection, and well-being of your team to set yourself apart from other businesses. Putting your employees first can help you recruit new, highly-qualified personnel and retain your existing staff, as well as boost your company's public reputation.

Medical businesses have undergone some of the most significant changes during the COVID-19 pandemic, pivoting from exclusively in-person care to telemedicine and other technology-powered treatment options. These changes have been generally well-received, presenting medical businesses with two opportunities to thrive post-pandemic:

9. Continue offering telemedicine services: Some telemedicine technology providers have reported a 40% increase in use of telemedicine services since December 2019. Remote care was already gaining wider acceptance before the pandemic, and has only continued to grow in popularity as people opt to stay home and reduce unnecessary contact, particularly for seniors and those with mild concerns that are easy to manage remotely. Medical service providers who adopt telemedicine permanently will be well-positioned for long-term success post-COVID.
10. Remote patient monitoring (RPM): Biosensors that accumulate biological data along with AI-based analytics allow medical practitioners to monitor patients, catch any changes in health, and step in as necessary with minimal contact.

Retail businesses have been among the hardest hit by the COVID-19 pandemic, but many resilient businesses have found creative ways to stay open-and even thrive-as the pandemic continues. Here are 5 post-COVID opportunities for retail businesses:

11. Continue to sell online : Set up an e-commerce store if you haven't already done so. If you do already offer e-commerce with curbside pickup or local delivery, consider expanding to offer nationwide or even international delivery.
12. Offer online customer service: Creating more touchpoints and ways for potential customers to reach you can help you connect with new customers and generate revenue. Chatbots on your website or Facebook page are ideal for handling routine inquiries so your human staff can focus on more serious problems, such as helping people find the right products without entering your store.
13. Virtual classes and workshops: Create a stronger connection with your audience by hosting virtual classes and workshops. Sell products and required supplies to attendees and offer local delivery or curbside pickup.
14. Subscription models: Offer monthly deliveries of people's favorite items, such as sweets, houseplants, books, coffee, or even essential items.
15. Collaborate with other businesses: As people are encouraged to stay (and shop) close to home, local businesses have a unique opportunity to connect with their immediate community. Work with other businesses in your local area or seek out ways to contribute to your local community in a meaningful (and safe) way, such as offering joint promotions or volunteering.

Many office-based businesses have undergone significant adjustments to how they do business. Some businesses and employees are eager to return to in-office work, while others have already committed to remaining remote post-COVID. The widespread acceptance of remote work presents office businesses with one compelling opportunity:

16. Continue to embrace remote work: A survey conducted by PwC indicates that over 60% of CEOs say their business model will be more digital in the future, with 78% saying remote collaboration is here to stay. Another study by Gartner suggests that 74% of CFOs expect to transition a number of previously in-office employees to remote work permanently after COVID-19, primarily driven by a desire to cut commercial real estate costs. Consider letting employees continue to work remotely so you can save money on office space, whether you allow select employees to work remotely all of the time or let all employees work remotely part of the time. As part of the transition, create more permanent and secure structures to replace any hastily-made solutions you implemented at the start of the pandemic.

Not all businesses will be in a place to grow as we emerge from the COVID-19 pandemic. Whether you're considering making permanent adjustments to how you do business or are investigating opportunities to expand, there are a few questions to ask to help guide your plans:

• What new problems do people face? Things won't return to normal right away, and some things may never return to the way they were. Think about the new problems and concerns your audience might have as the pandemic continues and how those problems and concerns might evolve as the pandemic eases.
• What needs and wants do people have? New problems mean new needs and wants. If your audience's needs and wants have changed as a result of the pandemic, what can you do to adjust your business to meet their new needs?
• How can your business solve these problems and meet these needs? Set goals and consider new strategies and tactics for how your business can help solve new problems and adjust to changing needs.

Taking the time now to contemplate post-COVID opportunities and prepare for how your business will continue to grow gives you a chance to identify what resources you'll need to acquire.

Whether you're rebuilding your business or looking to grow, taking advantage of the opportunities that exist for small businesses post-COVID requires working capital, and you may not have the funds you need to support these goals. If you've run out of PPP or EIDL funding or never received any in the first place, alternative funding from direct online lenders like Bluerock Options® can help you access the working capital you need to make the most of any business opportunities that emerge after COVID-19.

With loans as small as $3,000 and up to $500,000, alternative lenders offer a number of advantages over traditional lenders like banks or the SBA, including:

• Easier qualification criteria with less paperwork to gather so you can jump on new opportunities quickly
• Faster review and approvals, with approval in as little as 2-5 business hours and funding in a little as 1 business day
• No restrictions on how your funds are used-use them for acquiring inventory or equipment, boosting your marketing, or adopting new technologies that will help your business grow after COVID-10
• A variety of funding options are available to suit your business's needs, including merchant cash advances, small business loans, invoice factoring, collateral loans, and business lines of credit
• Businesses with low credit can receive funding. Instead of focusing on your credit score, our Funding Advisors will review the overall health and potential of your business
• Businesses in high-risk industries can also receive funding

The COVID-19 pandemic poses unique challenges for marketing a small business in 2021-smaller budgets, fewer resources if your staff is stretched thin thanks to capacity limits or reduced workforces, less foot traffic, and constantly changing conditions. Despite these difficulties, the pandemic has also highlighted new opportunities for small business owners, particularly as the movement to "shop local" grows and communities across the country choose to patronize small businesses.

The pandemic isn't going away, but your audience is there and ready to buy-you just need to make sure they know about your business in a time of social distancing when your traditional marketing methods may not be available to you, and that means you may need to explore different marketing channels to find new ways to reach your audience.

In this post, we'll explore a number of small business marketing ideas for 2021, including:

• Focusing on your existing customers
• Embracing digital channels, including your website, social media, email marketing, monitoring and managing online reviews, hosting online workshops and events and more.
• Location-based marketing
• Co-marketing

Let's jump in.

On average, it costs 5 times more to acquire a new customer than it does to close an existing one. As the pandemic continues, don't lose sight of your existing customers-reward your most loyal customers by offering deals and incentives, and keep an eye open for opportunities for repeat purchasing, upselling, and cross-selling. Update and reinforce loyalty programs and encourage purchases by engaging with your existing customers online using social media ads, email marketing, or other tactics.

When it comes to online marketing, your business's website is your most important touchpoint-it shows potential customers and clients who you are and why they should buy from you, what you offer, where you are, and how they can get in touch with you. If you haven't already made changes to your website, there are a few things you should do to make sure you're ready for 2021:

• Set up a secure e-commerce store so you can sell your products or schedule services online. The sooner you can create an online store or booking service the better, especially as the 2020 holiday season ramps up. Make sure your online store is secure-savvy hackers are now targeting smaller businesses who may not be able to afford dedicated cybersecurity, especially with so many businesses making the jump to online retail. Look for a website builder with existing security infrastructure, such as WordPress or Shopify, or hire someone with strong security credentials to build your online store for you.
• Make sure your website works well on mobile devices. According to eMarketer, over 44% of e-commerce sales will be made on a mobile device this holiday season. 50% of online shoppers won't make a purchase from a brand with a poorly designed mobile site, so it's more important than ever to ensure that your website is easy to navigate with a painless checkout experience.
• Focus on your search engine optimization (SEO)-"SEO" is a fancy way of describing the actions you can take to make it easy for people to find your website when they Google something you can help with. There are a number of SEO tactics you can employ depending on your capability and your budget, from simple updates to major modifications. The most important thing to remember is that your website should provide a good user experience, which means it should be easy to navigate, load quickly, and work well on mobile devices. Don't be afraid to work with a marketing agency that specializes in SEO if you don't feel comfortable tackling these tasks yourself.
• Consider installing a chatbot on your website so it's easy to connect with your customers and answer their questions. If you can automate it, your chatbot can even provide 24/7 service, including vital information and instant answers to certain questions such as "when are you open?", "do you offer delivery?", and "what safety protocols do you have in place?"

People are spending more time at home-and on social media-than ever, which means it's even more important for your business to be present and active on the same social media channels as your customers.

Social media can help improve your brand awareness, build a community, connect with influencers, and engage with your audience on a more personal level. There are a number of ways small businesses can use these platforms to reach their audience and even generate sales:

• Share updates about your business, such as hours of operation, changes in services, and how you are keeping everyone safe.
• Share blog posts and other content your audience will find interesting, entertaining, or helpful.
• Create shoppable Facebook or Instagram posts by tagging products you sell to make it as easy as possible for users to buy directly from your social media profile.
• Let your followers know about any charity or community work you're doing.
• Use Stories to take your customers behind the scenes, launch new products or services, share exclusive discount codes, and announce promotions. You can also use Stories to re-post your customer's photos, show your products or services in action, and even post polls, Q&As, and quizzes.
• Consider paid ad campaigns to promote your products and services directly to your target audience.

Social media is also an important customer service channel, especially as people embrace new ways to reach businesses without setting foot in a store. Keep an eye on your social media inboxes and respond to customer queries as quickly as you can. You can even set up automated responses to help manage frequently asked questions and simple queries.

Email is a great way to keep in touch with existing or potential customers, especially in a pandemic-Adweek reports that email revenue has increased 86% year over year in 2020. There are a number of ways you can connect with your audience via email:

• Send engaging order confirmation emails that include links to relevant information or articles, take advantage of opportunities to upsell, or ask customers to leave a review online.
• Reward loyal customers by sharing exclusive deals and personalized communications.
• Create a welcome series for people who subscribe to your email list. To encourage more sign-ups, you could even offer a 10% or 15% discount to any new subscriber.
• Follow up with people who abandon their cart mid-purchase to encourage them to complete their purchase.

Creating an email marketing system may require you to invest in new software to help collect and organize contact information, as well as create and send the emails. If you've been operating under restrictions or have experienced a decrease in revenue and don't have the cash on hand to adopt new software, an alternative small business loan can help supply the quick working capital you need to kickstart your email marketing program.

You may not be able to talk to your customers in person, but you can still talk to them online! A blog is the perfect place to answer questions, share your expertise, and offer advice that relates to what your business offers. While blogging most likely won't generate you immediate revenue, consistently publishing posts will help generate revenue in the long-term.

Before you start blogging, think about your target audience-what makes them tick? What do they like to read or learn about? What are their values? With your audience in mind, you can create content that shares their values and addresses their needs, creating a strong user experience that can ultimately lead to more sales. Bonus: blogging is also great for search engine optimization, and over time will make it easier for new customers to find your website.

Analytics measurement tools help you understand how people use your website or interact with your ads, as well as who visits and who buys (or doesn't buy) so you can make updates and market your business accordingly. This information can supply a number of insights for marketing a small business in 2021, including:

• New marketing opportunities, such as which social media platform sends the most traffic to your site, or what type of visitor is most likely to buy
• Problems with your website, such as slow load times on mobile devices
• Which products or services are the most popular and which are the most profitable
• What blog posts people like the most
• Common questions or things people search for often

If you haven't already, consider installing analytics tracking so you can get a better understanding of who's visiting your website and how they navigate around. Google Analytics is the industry leader-it's free to install and will start collecting data right away. If you already have an analytics measurement tool installed but you don't pay attention to it, start reviewing your website trends weekly or monthly so you can make informed decisions about how to market your business. Check out Google's Analytics Academy for detailed tutorials and lessons on using Google Analytics.

Search engine ads are another great way to reach your audience in 2021, and you don't need to be a search marketing expert to take advantage of this channel. If you aren't sure how to get started, Google Ads offers AI-powered Smart campaigns to help simplify the process of managing search ads. Google Shopping listings are also free for businesses in 2021.

If you're ready to make a big investment in Google Ads but don't have the know-how to manage your own campaigns, you may want to work with an agency who specializes in this type of marketing. An alternative small business loan can help supply the working capital you need to get started.

When real people advocate for your brand, you appear more trustworthy to future customers. Asking your existing customers for a review also doesn't require the same level of investment as paid ads or rebuilding your website, making this a beneficial option for small businesses with smaller marketing budgets.

Don't stop at just asking for reviews-respond to them as well, including 1-3 star reviews. Responding to negative reviews is especially important because it shows prospective customers that you care about creating a positive experience and that you'll work hard to make sure all your customers are satisfied.

Read our advice for getting more reviews online.

Hosting online classes is especially popular for fitness businesses, but some retailers have also begun to offer fun classes like tea tastings, build-your-own terrarium seminars, or guided cocktail hours complete with supplies delivered right to your door. In addition to giving you an opportunity to teach and share your expertise, creative events like these are a great way to stay in touch with your audience in an engaging way that also boosts sales while people are stuck at home.

Augmented reality has become very popular and is growing as a marketing tool. If you have the resources and ability to explore augmented reality, it can greatly enhance the online shopping experience. Ikea, for example, uses AR to let users visualize how a piece of furniture will look in their home. Other apparel brands have also used AR to make shopping for clothing online easier by allowing people to "try on" an item before purchase.

More than a billion people use Google Maps every month and 60% of smartphone users have contacted a business directly using search results. It's particularly important for local businesses to make sure they can be found on Google Maps and other similar platforms, especially if you only operate in your city and don't sell products online.

Start by signing up, claiming your business profile, and verifying your business through Google My Business. Once you've verified your profile, you can update your service availability, business hours, and contact information, and even post photos of your business. Be sure to include any relevant COVID-19 information such as whether you're offering curbside pickup, takeout or delivery, or online appointments. You can also add a post to update customers about your safety and hygiene practices so they can feel safe if they do decide to visit your location.

Best of all, it's totally free.

Can you work with another local business that isn't a direct competitor, but which offers a product or service with a similar audience as your own? Collaborating to cross-promote, host contests, and more can help strengthen your community presence and support other entrepreneurs in your area.

Time is at a minimum for many business owners as they struggle to keep up with the constantly changing realities of the ongoing COVID-19 pandemic, often with reduced workforces and limited cash flow. Investing in your online presence, tools to organize your marketing efforts, or experts to help rebuild or improve your website or manage online marketing campaigns can save you time and keep your efforts on track, but you may not have the working capital available to support these goals.

If you've run out of PPP or EIDL funding or never received any in the first place, alternative funding from direct online lenders like Bluerock Options can help you access the working capital you need to promote your business online and in your community, whether you need a small loan of $3,000 or funding up to $500,000.

Alternative lenders offer a number of advantages over traditional lenders like banks and SBA loans, including:

• Easier qualification criteria with less paperwork to gather
• Faster review and approvals, with approval in as little as 2-5 business hours and funding in a little as 1 business day
• No restrictions on how your funds are used-use them for payroll, everyday operating expenses, or to kickstart new ideas
• A variety of funding options are available to suit your business's needs, including merchant cash advances, small business loans, invoice factoring, collateral loans, and business lines of credit
• Businesses with low credit can receive funding. Instead of focusing on your credit score, our Funding Advisors will review the overall health and potential of your business
• Businesses in high-risk industries can also receive funding

Thanks to the ongoing realities of the COVID-19 pandemic, this year's holiday season will look very different from any we've seen before, especially for retail business owners. As shoppers continue to favor shopping online over browsing and buying in-store, the plans you so carefully made earlier this year to generate more foot traffic-and more revenue-this coming season have gone completely out the window. So what do you do now that the holiday season is just around the corner?

A recent report by Think With Google indicates that the pandemic will affect how half of shoppers plan to shop for the holidays, but exactly how shopping habits will differ this year is unknown and difficult to predict. This makes it very tough for retailers to plan for what is often one of the busiest and most profitable times of year.

Here's what the Think with Google report predicts:

1. Changes in demand: Demand is especially difficult to forecast this year-pent-up demand may make people more willing to buy, but on the other hand, many people have less to spend thanks to business closures and job losses. One thing is certain: shoppers will be buying more online this holiday season, whether for delivery to their doorstep, curbside pickup, or buy online pick-up in store (known as "BOPIS")-47% of planned shoppers report that they'll use options to buy online and pick up in store or curbside, and 53% of shoppers saying they'll choose to shop at stores that offer contactless shopping.
2. Prioritizing local businesses: According to Think with Google, 66% of planned shoppers will shop more at local small businesses than last year, especially as interest in curbside pickup grows and shipping and delivery systems for larger retailers are stressed.
3. Fewer shopping trips at different times: 80% of planned shoppers intend to consolidate their shopping to make fewer trips than in the past, and 70% of shoppers say they will plan their shopping earlier to avoid crowds.
4. Shopping for deals: Reductions in household cash flow may drive more customers to shop for deals than previous years.

While most retailers begin preparing for the holiday season as early as spring, this year's far-from-usual circumstances may have left some business owners unsure how to plan. Whether you're starting from scratch or modifying your pre-pandemic plans, now is the time to make sure you have all the kinks ironed out-not in November when holiday shopping will be in full swing.

With shoppers more discerning about how and where they spend their money this holiday season, the last thing you want to do is disappoint those who do shop with you. That means that your ability to provide a seamless online shopping experience or high-quality (ideally contactless) services-and then deliver packages on time-will be paramount in 2020, especially as the pandemic continues.

Here are 8 things to consider when planning for the 2020 holiday season:

Most inventory decisions that impact holiday performance are made months before the festive season looms, but this year's unique challenges may have made planning and managing your holiday inventory even harder than usual: changes in the shopping environment and the general shift towards online purchasing may make it tough for retailers to move holiday inventory purchased earlier in the year, but on the other hand, supply chain challenges and shipping delays may prevent retailers from accessing the inventory they need for the holiday season. Despite these challenges, accurately managing your inventory is more important than ever in 2020.

67% of shoppers say they plan to confirm online that an item is in stock before going to buy it, so as a retailer, one of the best things you can do for your shoppers is to provide an easy online shopping experience that clearly specifies if an item is in stock before customers make a purchase.

Many retail businesses hire additional staff to help out during the holidays, but physical distancing regulations and capacity restrictions may make it tough for you to have more employees in your store at one time. If you have a physical location that can't accommodate a larger staff, ask what you can do to make it easy for people to shop without stressing your employees, such as encouraging shoppers to buy online and pickup in-store or scheduling personal shopping appointments.

If you do plan to take on additional staff, you should also give some thought to how you will keep your employees safe and healthy. Consider your PPE needs, whether staff can safely physically distance, or if it's time to install plexiglass safety barriers around your checkout area.

According to Think With Google, more than ⅓ of shoppers who normally shop in store for Black Friday say they won't this year. Chances are, many holiday shoppers will continue to avoid in-store shopping throughout the season, but there's no way to accurately predict what the holiday season will bring. Use these next few weeks to create a plan for how you'll maintain physical distancing in your store (assuming you'll have more visitors than you currently do), and consider creative ideas for limiting the number of people in your store, such as:

• Offering free local delivery
• Specifying one-way aisle traffic, installing floor decals and hanging signage, or widening aisles to permit social distancing
• Altering your floor plan and merchandising to encourage a quick in-and-out visit rather than enticing people to stay and browse

Is your business usually busier at certain times of day? If so, can you do anything to reduce or redistribute your foot traffic throughout the day, such as offering curbside pickup or free local delivery? Shopping by appointment or scheduling pickup windows can also help limit in-store foot traffic during peak hours.

In addition to shopping more online, people may opt to begin their holiday shopping earlier this year, especially if they typically leave their gift-buying till the last minute. Getting an earlier start gives shoppers more time to account for longer shipping estimates, wait for items to come back in stock, or find alternatives in case the items they want aren't available.

To take advantage of early bird shoppers, some big box retailers have already started offering holiday promotions in a bid to encourage safe social distancing and avoid crowds looking for deals.

For smaller retailers, creating a strong, easy-to-use e-commerce website, or a least a place where local visitors can review (if not purchase) your products online, can make it easier for you to reach these customers and take advantage of changing patterns of demand.

With more people buying online, there will be greater-than-usual stress on delivery and shipping networks around the world. To make sure your customers have a good experience, clearly communicate shipping timelines and consider adding a liberal buffer in case there are delays, especially as you get closer to the holiday season.

Curbside pickup is also a good solution for local shoppers.

Whatever delivery method you opt for, now is the time to prepare for the expected surge in online shopping by making sure all your employees are trained on how to prepare packages for shipment, as well as how to handle BOPIS or curbside pickup.

Retailers should also factor in shipping costs when planning for the holiday season-parcel shippers like UPS and FedEx always add holiday surcharges, but these surcharges will likely be higher this year as global shipping networks are taxed by surges in residential drop offs. USPS has also announced that they'll be adding holiday surcharges for the first time ever in 2020.

Is it easy for your customers to reach you with questions if they aren't coming into your store? Setting up a chatbot on your website or on Facebook Messenger makes it easy for customers to contact you, and can be a vital channel for helping potential customers get answers to simple questions about your business, such as hours of operation or delivery options.

Advertising your business on social media and other online platforms can help get your business in front of new eyes or remind past customers that you are around to help this holiday season. Social media ads are a great place to highlight features like contactless purchases, curbside pickup, or local delivery to help buyers make purchases with confidence.

Shoppers may also be more easily swayed by promotions this year, especially if they've experienced a decrease or loss of income. If you run a sale or promotion, advertise it to your audience so they know there are deals available.

From building a website to training your staff on how to fulfil online orders, adapting to the unknown reality of the 2020 holiday season requires working capital. If you've been operating under restrictions and have experienced a decrease in revenue or don't have the cash flow to promote your business or invest in holiday inventory or new strategies to manage foot traffic, there are many funding options available to you, including federal and state funding and alternative online lenders like Bluerock Options.

Alternative lenders offer a number of advantages for businesses impacted by COVID-19, including:

• Easier qualification criteria with less paperwork to gather
• Faster review and approvals, with approval in as little as 2-5 business hours and funding in a little as 1 business day
• No restrictions on how your funds are used-use them for inventory, PPE, advertising, or hiring additional staff
• A variety of funding options are available to suit your business's needs, including merchant cash advances, small business loans, invoice factoring, collateral loans, and business lines of credit
• Businesses with low credit can receive funding. Instead of focusing on your credit score, our Funding Advisors will review the overall health and potential of your business
• Businesses in high-risk industries can also receive funding

There's a lot we don't know and can't predict about the 2020 holiday season, but there's one thing we do know for certain: people will be buying more online.

As a retailer, the most important thing you can do to ensure your success this holiday season is to make sure you have a functional, easy-to-use e-commerce website with up-to-date inventory information so you can easily sell items to customers in your area without relying on foot traffic, or even connect with new buyers around the country. If you don't sell items online, make sure potential customers can find all the information they need about your product or service online-almost 75% of shoppers say they will browse online for gift ideas, not in-store.

Retailers should also:

• Offer curbside pickup or contactless buying if they aren't doing so already.
• Update their website and social media profiles regularly with current hours of operation, special and promotions, and any other information their customers might find useful.
• Consider how to manage crowds. What can you do to enforce or maintain physical distancing in your store? Can you realistically limit how many people are in your store or facility at any time? Is it time to adopt floor decals or one-way aisles? Should you hire staff to help ensure proper mask use before shoppers enter?
• Promote early and often. Many shoppers are likely to be more cost-conscious this holiday season, and they may be more motivated by a good deal than in previous years. If you do offer a promotion, advertise it early and remind your customers often so you stay top of mind.

Many retailers may not have the capital they need to get ready for the upcoming holiday season. Federal and state funding options are available, but many businesses have already exhausted these funding options. If you've run out of federal funding or didn't get approved in the first place, you still have a number of options, including alternative online lenders like Bluerock Options.

Small businesses are reopening across the country, but it's hardly business as usual. While the COVID-19 pandemic continues, business owners are faced with a number of difficult decisions about how best to reopen, from immediate concerns like how to keep employees and customers safe to forward-thinking considerations about how to prepare for future disruptions.

Work environments differ greatly depending on the nature of your business, so there is no one-size-fits-all solution when it comes to reopening or resuming operations safely. Whether you can reopen at all depends on a number of factors, including:

• The current status of stay-at-home orders in your jurisdiction
• The number of COVID-19 cases in your area
• Whether or not your business has a physical location
• Your ability to implement and enforce physical distancing at your facility
• The level of contact you and your employees will have with customers and other employees

To make things even more complicated, health and safety restrictions are constantly changing and vary by jurisdiction. Combined with widespread uncertainty about the progression of the COVID-19 pandemic, this can make repening your business safely a difficult task to navigate.

There are two keys to reopening successfully and navigating any future disruptions:

1. Flexibility: The situation could change quickly and flexibility will help you adapt to any unexpected shifts.
2. Understanding: Stress levels are high and your employees and customers are taking a risk whenever they enter your business. An extra dose understanding will help you adopt compassionate policies that support and safeguard your staff and clientele.

Keep reading to get our expert advice for reopening safely, including safety measures all businesses must take, additional hazards and safety measures to consider, and tips for a smooth and successful reopening.

Regardless of what industry you operate in, reopening your business does not mean a return to normal operations-even if it's safe for your business to open its doors, there will be fundamental changes to how your business operates while the pandemic continues, as well as after the novel coronavirus has been contained or eliminated.

When it comes to reopening, McKinsey and Company, a global business management advisor, has identified two major considerations common to all businesses:

1. Creating safety measures that are tailored to your unique business environment
2. Implementing them across the full range of your business's activities, not just on site

With these considerations in mind, all small businesses should complete the following before reopening their doors:

• Review applicable government, health, and industry guidance to ensure you are in compliance before you reopen. Nothing halts a reopening like being shut down for violating requirements.
• Evaluate your workplace for possible hazards, including travel to and from work, accessing and departing the workplace, and moving throughout the workplace. You should also consider instances when workers may come within 6 feet of another person, such as breakrooms. Ask what you can do to lessen or eliminate these hazards, such as providing PPE, reconfiguring your workplace, adjusting scheduling, or installing physical barriers.
• Train employees on the proper use of PPE.
• Create signage to inform employees and customers about distancing, mask requirements, and other safety protocols in place within your facility.
• Devise and implement enhanced cleaning and sanitation procedures throughout your facility.
• Develop a plan for monitoring your employees' health and how you will handle a positive COVID-19 case after you reopen. Implement a flexible sick leave policy so it's easy for employees to stay home if they feel ill or if another family member is sick.

All small business owners are encouraged to implement as many health and safety policies and protocols as possible. In addition to the essential actions listed above, McKinsey and Co. breaks their reopening recommendations down into phases that cover all aspects of business activity, from before you reopen to after you experience a positive COVID-19 test. Proactive business owners will carefully consider these additional aspects of reopening their workplace so they can adjust quickly if local circumstances change or an employee or customer tests positive for COVID-19.

Here’s what McKinsey and Co. recommend:

• Embrace contactless or remote work: Adopt contactless services or continue to allow employees to work from home if it's possible for your business.
• Testing and symptom assessment: If widespread testing isn't available in your area, symptom screening before entry can help safeguard employees and other patrons of your business.
• Training and education: Comprehensive training and education about PPE and potential COVID-19 hazards can play a significant role in instilling safer habits among employees and customers.
• Childcare: Will your employees have access to adequate childcare, especially if schools in your area are closed?
• Mental health: Everyone is feeling the strain of months of isolation-ask what you can do to prioritize your employees' mental health as the pandemic continues, especially if they will be returning to the workplace.

• Modes of transport: Consider the various modes of transport your employees may use to get to or from work, including public transport and private vehicles.
• Staggered entry and exit: Can you adjust your employees' schedules so that crowding is minimized at entrances and exists? Can you limit the number of people in your facility at any given time by scheduling appointments or enabling widespread remote work?
• New cleaning protocols: Adopt enhanced cleaning protocols at points of entry/exit, especially for retail businesses, such as sanitizing baskets or carts or making hand sanitizer available at all doors.
• PPE: Entry and exit is an ideal time to remind employees and customers about PPE requirements such as face coverings.

• Physical distancing: Enforcing physical distancing can be easier in some environments than others. Ongoing reminders such as signage for one-way aisles, floor decals where customers should stand while they queue, loudspeaker announcements, or spaced apart tables can help encourage physical distancing throughout your facility.
• Enhanced hygiene: Additional hygiene protocols are especially important in environments where employees are required to be in close proximity. Consider actions such as sanitizing carts and equipment after each use, upgrading air filtration systems, and frequent deep cleaning for businesses like daycare centers or medical facilities.
• Workplace design: Can you redesign your workplace to prioritize health and safety, such as installing plexiglass partitions at checkouts or workstations, or redistributing cubicles to ensure physical distancing is easy to maintain?
• Consistent teams: Divide employees into teams or pods that will be in the office at the same time to reduce contact with other people. Daycares and schools could also consider splitting children up into groups who interact only with one teacher every day, with separate meal times as well as separate start and end times.
• Common spaces: Take measures to minimize or eliminate gatherings in common spaces, such as conducting video conferences across multiple rooms for large meetings, delivering food to employees' desks to avoid crowding in lunchrooms, staggering lunch breaks, and removing shared appliances from kitchens.

• Communication: If an employee tests positive for COVID-19, it's critical that you communicate post-infection processes to all levels of the organization as quickly as possible. Develop a communication plan and ensure everyone is familiar with the correct protocols before you have to address a positive test result.
• Contact tracing: Whether you use technology, manual contact tracing such as collecting contact information from customers, or both, contact tracing is essential for sustaining a safe working environment. Make sure your choice of contact tracing method is consistent with local privacy norms and standards.
• Cleaning and isolation protocols: This includes actions like deep cleaning areas that may have had virus exposure or isolating individuals who may have been exposed.
• Return to work: When can employees return to work after a positive COVID-19 test? Examples include multiple consecutive negative tests, a positive antibody test, or a two-week period of self-quarantine during which no symptoms are present.

There's often more to reopening than navigating the challenging task of creating a safe environment-for some businesses, reopening requires a major adjustment to how they operate. For example:

• Restaurants offering delivery or takeaway only
• Retail stores limiting the number of people allowed inside at one time
• Health care providers conducting appointments online
• Adjusting scheduling and working hours so fewer people are onsite at any given time

For others, reopening means embracing new technologies that help businesses stay agile in a changing environment or which provide data to help decision makers understand what customers value and want in the "new normal".

Now that we've covered safety considerations, here are 9 more practical tips for successfully resuming operations:

1. Focus on the products or services that generate the most revenue for your business before returning to full-scale operations, especially if your workforce capacity is reduced or you're working with reduced hours.
2. Identify and empower employees with strong leadership skills. These individuals will be indispensable for helping you navigate the pandemic as it continues.
3. Adopt an "action over testing" mindset. If you have an idea, put it into action rather than investing time, money, and effort into analyzing potential outcomes.
4. Regularly ask your customers for feedback so you can focus on the things that matter most to them.
5. Talk to vendors and partners before you reopen to let them know if there will be any changes to your working relationship, or to find out if there are any changes on their end so you can avoid unnecessary disruptions.
6. Ask for input from your team. What will make them feel safe as they return to work? Do they have any innovative ideas for reopening? Check in regularly to ensure all is well and give them greater peace of mind, and make it easy for employees to provide anonymous feedback if they have concerns.
7. Let your customers know what to expect. Communicate protocols and requirements clearly using signage, social media, and your website so customers know when you'll be reopening as well as what health and safety measures you've put in place.
8. Expect mistakes. No one is perfect and we are all learning how best to handle the COVID-19 pandemic in our communities. If a mistake happens, the best thing you can do is acknowledge the shortcoming and let employees and customers know what you're doing to make it right.
9. Consider your funding needs. If your business experienced a temporary closure or reduction in operations, it may be difficult to find the working capital you need to reopen, especially if you're adjusting your products or services to suit the "new normal". With approval in as little as one business day, funding from alternative lenders like Bluerock Options can help you navigate these changes quickly and with confidence.

Health and safety is the number one concern for small business owners as the country continues to reopen. But for many businesses, resuming operations means making major adjustments to how they conduct business and interact with clientele. Adjusting to meet the needs of your employees and customers amid the COVID-19 pandemic may come with additional costs that can put an additional strain on your business, but fast funding from alternative lenders can help kickstart your recovery as you get back to business.

Alternative lenders offer a number of advantages for businesses impacted by COVID-19, including:

• Easier qualification criteria with less paperwork to gather
• Faster review and approvals, with approval in as little as 2-5 business hours and funding in a little as 1 business day
• No restrictions on how your funds are used-use them for payroll, everyday operating expenses, or to kickstart new ideas
• A variety of funding options are available to suit your business's needs, including merchant cash advances, small business loans, invoice factoring, collateral loans, and business lines of credit
• Businesses with low credit can receive funding. Instead of focusing on your credit score, our Funding Advisors will review the overall health and potential of your business
• Businesses in high-risk industries can also receive funding

It's no secret that COVID-19 restrictions have presented small business owners across the country with unanticipated challenges-according to the U.S. Census Bureau's Small Business Pulse Survey, 85.5% of small businesses experienced a moderate or large negative impact between April 26 and June 27 as a result of the pandemic.

With restrictions partially or completely lifted in a number of states, many small business owners are keen to open their doors (safely, of course) and get on the road to recovery. But how do you find and hit your new stride if you're operating under ongoing restrictions?

To make matters more complicated, restrictions vary by state, ranging from severe actions, like mandating the closure of certain types of businesses, to no restrictions at all. Other restrictions include:

• Delivery and takeout only for restaurants
• Reduced opening hours
• Limits on the number of people allowed in-store
• Mandatory or recommended use of facial coverings
• Increased cleaning and sanitation protocols
• Stay at home orders

In order to slow the spread of COVID-19, some business owners have also opted to implement their own restrictions or even keep their doors closed in the absence of official government mandates.

According to the CDC, the decision to reopen your business should be based on the level of disease transmission in your community, as well as your readiness to protect the health and safety of your employees and customers. For details about workplace health and safety recommendations, visit the CDC website.

Economic upheaval like what we're experiencing as a result of the COVID-19 pandemic can be devastating, but it can also generate a surge of innovation as businesses are forced to get creative to find new ways to stay afloat.

McKinsey & Company, a global a business management advisor, recommends that businesses focus on four strategic areas of innovation as they reopen:

1. Rapidly recovering revenue
2. Rebuilding operations
3. Rethinking the organization
4. Faster adoption of digital strategies

Let's take a closer look at these areas.

Small businesses across the country are playing catch-up as they rebuild revenue streams and solidify their cash flow after temporary closures and reductions in business hours. Businesses can do this by:

• Adopting a start-up mindset that favors action over research and testing over analysis. If you have a new idea for your business, try it out instead of devoting weeks or months to analysis and research.
• Put people at the core of your business. Think about how your employees work best and do what you can to help them be their most productive, such as instituting flexible work policies that allow employees to work from home even if your office is open.
• Enhance or expand digital channels and embrace analytics to help you make better decisions, such as adjusting pricing or promotion strategies based on new consumer behaviors.
• Understand what customers value in the "new normal" and develop new products and experiences based on these insights.
• Identify and prioritize new revenue opportunities, such as launching targeted ad campaigns on social media to win back customers, developing new customer experiences based on health and safety, retraining your teams to support remote work, creating flexible payment terms, or automating processes whenever possible.

The pandemic has radically changed patterns of demand for products and services while also exposing trouble spots in global supply chains and service networks. McKinsey has identified five themes that are emerging as businesses adapt and rebuild their operations around these new realities:

• Redesigning operations and supply chains so they are more localized and better protected against future shocks
• Making it easier for their business to operate online, such as remote working for employees
• Increasing transparency in how the business prioritizes and spends money
• Embracing the future of work by supporting the transition to remote work and the rising need for analytical and tech support
• Shifting operations to remain competitive, such as accelerating product development, recreating the customer experience, embracing customization, and improving sustainability

Deciding who you are as a company, how to work, and how to grow will put your business in a strong position to weather the ongoing COVID-19 pandemic. Companies that have adapted well often have a strong identity with a shared sense of purpose that has allowed them to navigate changes in how their business works, with a greater interest in matching employee talent to the most critical challenges they are facing regardless of hierarchy or experience.

We've all moved online quickly since the start of the pandemic, whether for work or for our personal interactions. To keep up, small businesses are refocusing their digital efforts to reflect changing customer expectations by creating satisfactory ecommerce experiences and allowing customers to complete everything they need to do online, from initial research to purchasing a product to conducting returns. Businesses are also increasingly relying on data, IoT, and artificial intelligence to cope with changes and make decisions based on forecasted demand and available assets.

Here are a few practical ways for any business to keep operating under COVID-19 restrictions:

1. Focus on your online presence by improving or updating your website (or building one from scratch), or by creating fresh content that will help people find your business when they do start shopping again. Consider offering your usual services online for a reduced fee if the nature of your business allows you to do so.
2. Make sure it's easy for potential customers to find you by claiming and updating your free Google My Business profile. Take advantage of new features, such as takeout and delivery attributes, post updates, and keep your customers informed of any changes to your business.
3. Look for ways that your business can help people adapt to the new reality. Can you engage your audience online with live streams, classes, workshops, or even augmented or virtual reality?
4. Consider pivoting your product offering to serve more immediate needs, like these distillers that have shifted to producing hand sanitizer instead of liquor.
5. Investigate subscription models to create an ongoing source of revenue, such as monthly gift boxes or special access to live streamed events.
6. Collaborate with other small businesses, especially businesses with offerings that complement yours, to create new initiatives that will benefit both businesses.
7. Launch targeted social media ad campaigns to win back customers and engage with potential new customers.

8. Build a website that allows you to sell items online. People are buying online more than ever, so while it may take some up-front work and a small financial investment, you'll be able to continue selling things online once things return to normal.
9. Offer in-person or online personal shopping appointments to limit the number of people in your store at one time, prevent line-ups, and make it easier to maintain physical distancing.
10. Host shopping parties on Zoom or other video calling apps.
11. Search for temporary revenue streams, such as selling gift cards for later use. Some local organizations have created directories where customers can purchase gift cards from local businesses, enabling people to patronize these businesses without physically visiting.
12. Offer free local delivery to encourage people to purchase without having to enter your store.

13. Improve takeout and delivery services to make it easier for customers to place an order, such as creating a branded app where customers can place an order and save their favorites for fast reordering in the future.
14. Offer grocery baskets and prepared meals to encourage people to cook at home and limit food waste.
15. Host online events to engage customers if dine-in isn't available in your jurisdiction, such as live-streaming live music on patios or in closed or limited occupancy dining rooms.
16. Offer cocktail boxes and host a virtual happy hour for customers to follow along online.
17. Share recipes and cooking tips to stay top of mind and build loyalty with your loyal customers.

18. Implement flexible work policies to enable employees to continue working from home even if your office is open.
19. Maintain social connections while employees are working remotely by hosting informal huddles that don't focus on work-related topics, but instead are designed to generate a connection, combat isolation, and improve productivity.
20. Make an effort not to host too many online meetings if possible-it can be interpreted as micromanagement.

21. Improve or expand secure online appointment options even if your practice has reopened.
22. Digitize online intake forms so people can complete paperwork at home.
23. Offer online appointments to safely guide patients through self-guided treatments such as massage therapy, stretching, or strengthening.

Regardless of what kind of business you operate, all of these ideas require capital to implement. If you've been operating under restrictions and have experienced a decrease in revenue or don't have the cash flow to invest in new strategies, there are many funding options available to you, including federal and state funding and alternative online lenders like Bluerock Options.

Alternative lenders offer a number of advantages for businesses impacted by COVID-19, including:

• Easier qualification criteria with less paperwork to gather
• Faster review and approvals, with approval in as little as 2-5 business hours and funding in a little as 1 business day
• No restrictions on how your funds are used-use them for payroll, everyday operating expenses, or to kickstart new ideas
• A variety of funding options are available to suit your business's needs, including merchant cash advances, invoice factoring, collateral loans, and business lines of credit
• Businesses with low credit can receive funding. Instead of focusing on your credit score, our Funding Advisors will review the overall health and potential of your business
• Businesses in high-risk industries can also receive funding

As restrictions on business operations are partially or completely lifted across the country, many business owners are reopening their businesses and beginning the hard work of recovering from temporary closures or service reductions.

Many businesses may not have the capital they need to adapt to the new normal or invest in new products or services. Federal and state funding options are available, but many businesses have already exhausted these funding options. If you've run out of federal funding or didn't get approved in the first place, you still have a number of options, including alternative online lenders like Bluerock Options.

The U.S. economy is heavily reliant on small business, with an estimated 95% of business operations dependent on small businesses for everyday goods and services.

Small business owners are no stranger to risk and uncertainty, but even the most well-prepared businesses can't plan for every contingency. Until the economic impact of COVID-19 becomes clear, many small business owners are concerned about the uncertainty they will face over the coming weeks and months.

Read this post to understand the potential impact of coronavirus (COVID-19) on your small business and for our advice on how to manage your operations through the course of the pandemic.

As we continue to navigate the COVID-19 outbreak together, the long-term impact of the pandemic on both small and large businesses remains difficult to assess. Some industries, such as manufacturing, retail, food & beverage, and travel, will feel the effects more severely than others. Others may even see an increase in demand.

Large businesses often have cash reserves and sophisticated infrastructures to help weather the storm, but small businesses don't always have this level of flexibility and may be more vulnerable to disruptions or complications related to:

• Capital access: Unexpected circumstances can strain a small business's cash flow and financial capacity to fulfill payroll, maintain inventory, and react to market fluctuations like drops and surges in demand.
• Business closures: Some retail businesses have opted to reduce hours, but many have voluntarily closed their brick and mortar locations to slow the spread of COVID-19. Several jurisdictions in the U.S. and Canada have also temporarily suspended operations of restaurants, bars, recreational facilities, and many other businesses deemed "non-essential". Online operations and package deliveries continue, as do restaurant deliveries, putting small retail businesses with an online store or delivery capabilities in the strongest position.
• Supply chain disruptions: Supply chain disruptions will have a disproportionately high impact on manufacturing businesses-particularly those who rely heavily on factories in China for parts and materials. Activity at Chinese manufacturing plants has significantly decreased in response to the COVID-19 epidemic, and is likely to remain depressed for several weeks or months. According to Harvard Business Review, U.S. firms are expected to begin feeling the pinch in mid-March, and many will respond with temporary closures.
• Inventory shortages: Retail businesses may also experience product shortages, particularly as consumers flock to stores to stock up on household goods. Roughly 20% of U.S. retailers' supply chains involve distributors and suppliers located in China, and some estimate that losses for U.S. retailers could reach up to $700 million from March 9 to April 20.
• Market demand: Growing concerns about public exposure are encouraging more consumers to self-isolate. As a result, small businesses will likely experience a drop in revenue that may seriously restrict cash flow through the course of the pandemic, as well as after the threat passes. Some businesses, such as cleaning businesses, may also experience increased demand.
• Insurance issues: Many businesses have business interruption insurance, but not all policies will cover interruptions caused by COVID-19. Contact your insurance provider to understand what you are covered or not covered for.
• Workforce capacity: Your employees may not be able to get to work due to illness or quarantine, and not all businesses are able to support working from home or reduced workforce capacity.
• Facility cleaning: Many businesses are enhancing their cleaning and sanitation routines, which can impact costs and existing maintenance contracts.

Citing a survey from Veem, SmallBizTrends notes that "27% of businesses expect the coronavirus to have a moderate to high impact on their revenue, [and] another 30% expect the virus to have a moderate to high impact on their supply chain." The same survey revealed that 52% of businesses are taking steps to prepare for an economic slowdown by increasing pricing, changing suppliers, decreasing operational costs, or protecting cash flow.

While some businesses are taking steps to safeguard their business or are pausing their plans to grow, others are seizing the opportunity to expand by increasing their online presence, building online shops, and developing more sophisticated remote communication capabilities, such as adding telemedicine services that enable doctors to diagnose patients using video chat or expanding their tech infrastructure to allow employees to work safely from home.

Other businesses are pivoting more substantially to provide support to their community, as well as workers in other industries-for example, two craft distilleries in Pennsylvania have switched from making spirits and cocktails to producing sanitizer and cleaning products. Instead of shutting down altogether, resourceful small business owners may wish to consider ways to adjust current operations to provide assistance or essential products to individuals or other small businesses in their community.

Whether you opt to scale back or scale up, small businesses need cash flow to secure their safety-and the safety of their customers and employees-in uncertain circumstances.

Amidst concerns about how widespread the virus and its resulting impact on small businesses will be, many would-be investors may be reluctant to provide small and medium-sized businesses with the funding they need to get by and continue to thrive after the threat passes.

Thankfully, the US Chamber of Commerce, SBA, and other lenders are ready to bridge the gap and support small businesses through the coming months.

• The Small Business Administration (SBA) is providing up to $7 billion in low-interest loans to small businesses impacted by coronavirus, with relaxed eligibility criteria that will make much-needed funding more readily available to businesses in states seeking an economic injury declaration. Loans up to $2 million "may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact," the SBA said in a statement.
• The US Chamber of Commerce has created four task forces devoted to preparing small and medium-sized businesses for any potential long-term economic effects of coronavirus.

Bluerock Options® stands united with our customers and all small businesses during this uncertain time. Here's what we're doing to support small businesses:

• We're assisting our clients through the process of applying for Disaster Assistance funding through the SBA and whatever means possible in Canada.
• We are openly communicating with current and past customers to share urgent updates and provide support as needed.
• We are providing payment assistance to all existing customers showing a loss of revenue.

We understand that these are uncertain times for most small businesses. We're committed to helping small businesses across the United States and Canada, and our Funding Advisors are standing by to help U.S.-based businesses navigate the application process for Disaster Assistance Funding from the SBA. We are closely monitoring what support is available for Canadian small businesses, and will provide whatever assistance we can.

Businesses that aren't eligible for funding through the SBA or traditional lenders may be able to access the funds they need through alternative lenders. Contact our Funding Advisors to learn more about financial assistance available through the SBA or to discuss alternative lending options.