With everything happening in the world today as many of us have started the practice of social distancing, I wanted to take a moment to acknowledge the complex situation that you may be finding yourself in.
If you are feeling anxious about the unknown financial stress your business may have to endure, in addition to fears about your health and the health of those you love, you’re not alone.
I wanted to quickly share the top 3 things you can do to bulletproof your business…
#1: Take care of your mental and emotional well-being. I know this one is hard for most small business owners because there is so much to do. Yet, since your business is the best when YOU are your best, this is not the time to ignore your needs.
So, take frequent stops during your day and do something simple like taking five deep breaths in between reading emails or client calls. Play with the kids. Satisfy your spiritual needs. Enjoy the moment.
#2: Stay on top of laws affecting small businesses right now. The House and the Senate just passed the Families First Corona virus Response Act which could affect any small business owner with 500 or less employees and expands the provisions of the Family and Medical Leave Act to apply to a public health emergency. This bill still needs to be signed by President Trump (which he’s promised to do) and will go into effect 15 days after he’s signed it.
In addition, the White House has postponed tax payments for 90 days for most Americans and some small businesses. These changes are happening quickly and some of them could impact you, depending on your business size and how much you owe Uncle Sam.
#3: Ask for help. Ask an accounting consultant how these recent changes in laws and tax payment deadlines might affect your business. We stay on top of these issues so that YOU have the information and tools you need to survive and even thrive during uncertain times.
To schedule a complimentary session to see how these changes impact your business, message me and let’s talk. You’re not alone in this. We’ll get through it together!