Financial Strategies For The Next Wave Of COVID-19

Renegotiate Terms or Slow-Pay / No-Pay Creditors



Millions of businesses struggled to survive during COVID-19 with many still at risk of closing. According to a Goldman Sachs survey of more than 1,500 small business owners, 50 percent said they didn’t feel they could continue operating their businesses more than three months under the coronavirus conditions.

However, with the lifting of restrictions, many business owners and leaders remain optimistic as they have either reopened or are pursuing a phased reopening plan. Although the relaxation of restrictions translates to a much-needed boost in revenue for many businesses large and small, it’s important for business owners and professionals to prepare for the likelihood of a second wave of COVID-19, resulting in a new round of restrictions.

Epidemiologists predict another wave of coronavirus in the fall or winter. According to the U.S. Centers for Disease Control and Prevention, the four common coronaviruses first identified in the mid-1960s peak tend to peak in the winter months—and just in time for the start of flu season.

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Source: CPA Practice Advisor

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