During this Time

A Few Resources

Morgan Stanley believes this ‘recession’ will be far shorter than what was experience with the recession starting in 2008.  As virus cases drop, the economic downturn will come back more rapidly.  Perhaps this will begin as early as mid April, 2020.  (provided by CBS Sunday Morning, 3/29/2020)

No one answer is for all.

Things are quickly changing. Check in periodically for amendments to this list. If you have some to add,


  • Personal or business-wise plan your re-emerging whether you are now operating the same, different, or not at all. 
  • Perhaps design a pivot in what you are typically doing.
  • Hoard cash to ensure weathering what remains uncertain for duration. 
  • Advantage programs that can help you, your staff, your business.
  • Ask for relief from vendors, landlords, credit card, and banks.
  • Use cash for refunds to save the fee from the credit card company.
  • Use this time to clean out stale/dated/damaged goods and deep cleaning.
  • Consider refinancing as the rates are dropping.
  • Update Websites, PPC/SEO campaigns, Social Media Pages and any other Marketing materials
  • Take time to tidy up your financial and operational systems and reporting – key to financing and transfer
  • Enroll in EFTPS.gov to put your bank account online to ensure a more rapid receipt of the soon-coming government gifts of up to $1400 for individuals and $500 for children.  (Those with individual income of about $95,000 do not qualify.)

Unique to some:

  • Start selling gift certificates or store credits to provide cash and be claimed at a later date.
  • Don’t have an online shopping cart associated with your business, begin one.
  • Discount to allow for sales that may not otherwise happen.
  • Curbside need not only apply to restaurants.  Think of creative other ways of delivery.
  • Filing 2019 now may allow for a larger check from the $2 Trillion checks to individuals and families.
  • Offer gift cards or certificates at modest discount to help even out cash flow.  (Make sure these are identified on contingent liabilities until redeemed.)
  • Offer Groupon or similar offer (being careful to not sell below your real cost.) 

Economic programs:

The CARES Act – SBA 7(a) called Paycheck Protection Program is available and is not just the routine lending SBA does.  It may use your credit standing prior to the disaster to qualify you.

Some of the items covered are “(1) payroll support, including paid sick, medical or family leave, and costs related to the continuation of group health care benefits during those periods of leave; (2) employee salaries; (3) mortgage, lease and utility payments; and (4) any other debt obligations. The legislation includes other attractive features, such as (1) increases in the size standard for eligible business concerns, (2) payment deferrals, and (3) a forgiveness option that would enable portions of the loan to be forgiven without resulting in cancellation of indebtedness income.”  Sourced from Pepper Hamilton LLP follow this link for more detail.

If you need some assistance in completing loan applications, I am happy to help.


There are programs for folks laid off, working only partial hours, and those who are sick or helping others sick.  There are rules for employers.  This can apply to independent contractors not receiving a W-2 as well as those who do.  Here are the details from NM Workforce Solutions – follow the link.  This latter includes how to file online or via telephone. 

For those who would like to find jobs, on this same link is a list of industries hiring. 

Got questions?  Feel free to ask. 

Happy to help, Pd (aka Priscilla Dakin)

Certified Business Intermediary

Best Practices Top Contributor

Priscilla@ Dakinbusinessgroup.com