First, we had the virus and the closing of most businesses, then we had the protests and looting. Now we have cities moving to open up, but the virus numbers are increasing as well.
In October it is believed that the virus may come back in full force. If so, will your business be ready? Can it survive, especially if there is not massive stimulus package to assist?
With great uncertainty in how the first bailout will be paid for, a second seems more distant and elusive.
But now knowing that another wave may be coming, now may be the best time to lay in supplies. Clorox wipes, hand sanitizer, toilet paper, paper towels. N95 masks will not be available.
It is also unlikely that lines of credit, mortgages and credit cards will be able to be put on hold again. Even large companies have limits.
The EIDL just reopened and I notified a number of clients who didn’t apply or did not get it. I actually had to really push to force one to file. Apparently their cash flow is fine for now and is projected to be later in the year. Such short sightedness…
Always have a Plan A, Plan B and maybe a C and D.