Likely, you are already feeling the effects of the COVID-19 pandemic. Unfortunately, we may not be “back to normal” any time soon. Without a vaccine, there is always a chance for the virus to grow again and cause more economic shutdowns.
The reality of the COVID-19 situation calls for proactive management of your small business. Gather all the information you need to keep your business afloat now. Being proactive means working closely with your business advisor and accountant to create a plan for your small business. That may include reducing staff and other overhead or beginning to apply for relief and grants. Don’t wait until you are about to close your doors for good to begin researching options.