The COVID-19 pandemic has had significant impacts on California cities from health, social and lifestyle perspectives, as well created a challenging economic climate for businesses and companies of all sizes and city budgets. To prevent the resurgence and further spread of COVID-19, the State, Counties, and some cities have established onerous public health measures and operational restrictions that require changes that are necessary in how retailers, restaurants, service providers, offices, leisure/lodging, and entertainment venues operate. Cities are challenged with how to help the businesses in their communities recover and the preparation of an Economic Recovery Action Plan (ERAP) is a good start.
On July 22, 2020, MMANC partnered HdL EconSolutions for its Webinar Wednesday series to present, “Preparing an Economic Recovery Action Plan-Reopening Your Business Community”.
The Webinar offered attendees suggestions on how an ERAP can help guide a city in reopening its business community in the near term, suggestions to consider in a mid-term timeframe to help struggling businesses and improve the confidence of consumers to feel safe in returning to shopping and restaurant environments, and lastly, considerations, and best practices to help improve the business climate in moving toward a robust recovery effort from the COVID-19 pandemic.
Barry Foster, Principal and Managing Director and Angela Tsui, Senior Advisor, walked attendees through 10 recommended steps for cities to consider in helping their business communities to recover properly from COVID-19:
- Form a Core Economic Recovery Team
- Create Task Forces of Local Businesses
- Undertake a Comprehensive Assessment
- Understand the Need for Implementing New Safe Measures
- Work with Local Businesses and Shopping Center Owners to Reopen Businesses
- Engage the Business Community through Business Visitation Programs
- Utilize Social Media Platforms for Public Outreach
- Consider Creating Small Business Relief Loan and/or Grant Programs
- Work with Developers and Owners of Commercial Properties to Explore Mixed-Use opportunities and Different Uses
- Continue to Closely Monitor the Recovery of Local Businesses and Shopping Center
To learn more, click here to view the presentation deck.