Coronavirus has impacted the world at an unprecedented level — and unfortunately, the worst has yet to come. Companies need to act today in order to bounce back successfully in a post-corona marketplace. The authors suggest executives ask themselves the following five strategic questions: 1. Which position can you achieve during and after the coronavirus pandemic? 2. What is your action plan to bounce back? 3.
Along with the severe health and humanitarian crisis caused by the coronavirus pandemic, executives around the world face enormous business challenges: the collapse of customer demand, significant regulatory modifications, supply chain interruptions, unemployment, economic recession, and increased uncertainty. And like the health and humanitarian sides of the crisis, the business side needs ways to recover.
Quite a lot has been going on:
'All your dreams get crushed.' Charlotte businesses on the brink try to survive
CHARLOTTE, N.C. (Austin Weinstein / Charlotte Observer) - With the Charlotte economy shut down to prevent the spread of the new coronavirus, small businesses have been stretching their dollars, hoping to make it through to the coming recovery. But some are already finding that they might not be able to make it.
While it's anticipated that demand for hotels, restaurants and other parts of the economy will come back, and along with it many of the lost jobs, companies still have to pay bills in the meantime.
McConnell, McCarthy reject Democrats' coronavirus demands over small business program - The
Senate Majority Leader Mitch McConnell (R-Ky.) and House Minority Leader Kevin McCarthy (R-Calif.) released a joint statement Saturday morning saying they would not agree to any compromise with Democrats that changed their proposal to add $250 billion to the Paycheck Protection Program, which is being run by the Small Business Administration.
"Republicans reject Democrats' reckless threat to continue blocking job-saving funding unless we renegotiate unrelated programs which are not in similar peril," the joint statement said. "This will not be Congress's last word on COVID-19, but this crucial program needs funding now. American workers cannot be used as political hostages."
For Small Businesses, Paycheck Protection Program Means Hard Choices - The New York Times
"One of the C.P.A.s I work with was just heading home at 6 a.m.," said Mr. Levey, founding partner of the Manhattan firm Helbraun Levey. "Chase's application portal didn't open until Monday night, and it kept crashing."
Treasury Secretary Steven Mnuchin said on Tuesday that he had asked lawmakers for an additional $250 billion for the payroll program, but it was up to Congress to allocate any additional funding.
In most cases, the S.B.A. is using payrolls as of Feb. 15 as its definition of pre-pandemic levels.
Check out this next:
St. Pete business grants in response to coronavirus shutdown don't include everyone
ST. PETERSBURG — The city's small business grant program, the Fighting Chance Fund, began accepting applications on Thursday from businesses that have been affected by the shutdown in response to the coronavirus pandemic.
Already, more than 600 businesses have applied for the $5,000 grants. More than 800 individuals have applied for $500 grants available for St. Petersburg residents who are or were employed by those eligible businesses.
The program is aimed at helping independent small businesses in the restaurant, bar, retail and personal service sectors that are owned by St. Petersburg residents. Personal services, according to the program, include gyms, cleaning and pet care services, event spaces, child and elderly care businesses, tattoo and massage parlors and salons and spas.
Market And Business Ties Often Determine Where COVID-19 Supplies Go : NPR
While FEMA is doing some of the work, corporate and U.S. officials say the medical supply shortage nationwide is so vast and dire that the federal government can't handle it alone. They say companies are needed because of their expertise and facilities to ramp up shipments fast.
So, late last month, the Trump administration shifted much of the supply effort for the COVID-19 fight to corporations, including McKesson, Cardinal Health and Medline Industries.
Small business owners along Lake Ontario worry about flood risk – Fingerlakes1.com
As if small business owners and employees didn't have enough to worry about amid a global health crisis and pandemic — some are looking at nearby waters with concern.
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Mike McKeon, the owner of Silk O’Loughlin's, completely shutdown as COVID-19 spread. He did it out of caution for his employees.
Even if he's able to reopen, though, there are concerns about what water levels will to do his business, which sits along Lake Ontario.
Loveland-area business briefs: Colorado Green Films Technology – Loveland Reporter-Herald
A Loveland CBD manufacturer prepared the first shipment last week of its latest product: hand sanitizer with a touch of CBD.
Colorado Green Films Technology has begun creating a hand sanitizer to offer for free to essential employees, who have no choice but to work during the COVID-19 crisis.
The company also plans to sell the 4- and 8-ounce bottles to retailers, asking for the retail price to remain low.
Rich Crawford, co-founder and CEO of Colorado Green Films Technology, wants to provide essential workers, such as dispensary employees working curbside exchanges, with sanitizer because "there's such a big shortage out there."
Happening on Twitter
If you feel like this virus has stolen the great year you were preparing to have, remember this truth: We don't k… https://t.co/EUFSXjYQBf JonGordon11 (from Ponte Vedra Beach, FL) Fri Apr 10 02:55:42 +0000 2020
Now is the time to take a hard look at your company's: - Strategic position - Plan for bouncing back - Perspectiv… https://t.co/sMR6FpyoIt HarvardBiz (from Boston, MA) Sat Apr 11 05:47:21 +0000 2020
Ask: Who are you in your market, what role do you have in your ecosystem, and who are your main competitors? How wi… https://t.co/vh8FMEtqOI HarvardBiz (from Boston, MA) Fri Apr 10 16:55:08 +0000 2020
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