As COVID-19 spreads through the United States with harsh economic implications, conditions are changing fast and the seas are only getting stormier. The global economy is acutely deteriorating and local economies are quick to follow suit as the Novel Coronavirus spreads and manifests its largest symptom: economic fallout. The pandemic comes at the latest peak in the naturally fluctuating credit cycle. Under ordinary conditions, the economy was due to slow. Now, COVID-19 is accelerating this normal downturn at breakneck speed in an economic event that may meet or exceed the 2008 Financial Crisis in magnitude and its pain for American small businesses owners as the economy enters unprecedented territory.
The attached summary manual is engineered to offer invaluable insights to your small or growing business, illuminating a path forward through the darkness of COVID-19 turmoil. As consumer and business spending slows to a trickle, we’ve carefully analyzed present and historical economic data and government actions to determine the consequences that rapidly approach small businesses. Through these assessments, we’ve generated several critical response action areas for small businesses and compiled our recommendations. The manual shares how to fortify your financial situation to keep your business afloat throughout the whirlwind that’s coming, how to quickly analyze your business’ short-term future to effectively respond to COVID-19 complications, seize government stimulus opportunities to sustain your business, understand new government actions that affect employers, lead your employees through these uncertain times, keep your customers engaged and informed, and more. We know what it’s like to create and run your own organization, and this manual contains everything you need to know to keep your company viable through the chaos and confusion. This information is critical to understanding where to go from here, and we’re glad to help our community through this time of need.
~Aspen Ridge Group