The COVID-19 crisis is affecting not only the way many businesses operate but also how they assess productivity. How can you tell whether you are getting enough done when so much has changed? There is no easy, one-size-fits-all answer, but business owners should ask the...
Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program to eligible applicants still struggling with the economic impact of the COVID-19 pandemic. The EIDL program offers long-term, low-interest loans to small businesses...
Transferring a family business to the next generation requires a delicate balancing act. Estate and succession planning strategies are not always compatible, and family members often have conflicting interests. By starting early and planning carefully, however, it is possible to resolve these conflicts and transfer...
Just about every business owner’s strategic plans for 2020 look far different now than they did heading into the year. The COVID-19 pandemic has changed the economy in profound ways, forcing many companies to recalibrate suddenly and severely. As your business moves forward in this uncertain...
If you operate a small business, or you are starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses to claim the full amount of the tax deductions to which...
As you know, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the PPP...
For business owners, succession planning is ideally a long-term project. You want to begin laying out a smooth ownership transition, and perhaps grooming a successor, years in advance. And you should not officially hand over the reins until many minute details have been checked and...
Private companies and most non-profits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the COVID-19 crisis, the Financial Accounting Standards Board (FASB) has decided to give certain entities an...
Economists will look back on 2020 as a year with a distinct before and after. In early March, most companies’ sales projections looked a certain way. Just a few weeks later, those projections had changed significantly — and not for the better. Because of the COVID-19...
During a crisis like the COVID-19 pandemic, connecting with customers and prospects via social media platforms is essential to maintaining visibility, building goodwill, and perhaps even generating a bit of revenue. The challenging part is that the social media strategy you deployed before the crisis...