How can B2B businesses survive the coronavirus?

It happened and it's still happening, how can we deal with it?

Coronavirus impacted our lives and the economy in various ways,

You can see from the news and many articles on how small businesses took the heavy hit, which lead businesses to lay off many employees, and many startups closed too early.

Today, we need to look at the bright side and learn from business models that coped with the new normal and shift the focus on the strategies that can be implemented to deal with current conditions, and get ready for the market return as we are getting closer to the end of coronavirus.

How a B2B company like Tradeling marketplace, thrived during the pandemic.

Trading is a B2B e-commerce startup that was established earlier this year, and it was in the growth phase when Coronavirus hit,

In a conversation with Tradeling CEO Muhammed Chbib he mentioned many aspects of startups' survival skills that can lead them to grow even during the pandemic.

The key elements here are communication and cash.

Cash is king in such circumstances, you will need to have honest and clear communication with your investors about the expectations of the next phase and your strategy to cope with it,

Leveraging your network with your investors is key to pass the pandemic phase and to get the support your business need.

Another factor will be your communication with your staff because business owners and entrepreneurs will have to make hard decisions in this phase,

Between deducting salaries, laying off staff and businesses must be transparent with their employees about these decisions.

Business adapting strategy during the pandemic.

Any small business in these hard circumstances must focus on what is the best outcome they can have, what other markets they can reach, and where is the opportunity.

In Tradeling situation as a B2B platform, their main focus is to connect buyers and suppliers through their platform and increase their network.

They found the opportunity in reaching out to offline businesses, as suppliers that don't have online presents, were suffering the most from the significant decrease in sales,

With this approach, they have grown fast, and their network kept growing,

Now, Tradeling has more than 27K products and more than 350 qualified suppliers through the platform.

During these times we need to rely on honest communication and the strategies that will help us pass the current phase, and prepare for the change in consumer behavior in the next phase.