Author: Tony Novak
-
Small Business “Crisis Management Live” – Update Friday April 3
For those employers planning to apply for the Paycheck Protection Program: there are new developments related to this program since yesterday. It seems likely that we will hear more today. The most important change is that late yesterday we learned that the federal funding is not yet available to the lending banks so the banks…
-
New Jersey Small Business Disaster Relief Checklist
Checklist of resources Federal Financial Resources through SBA] Payroll Protection Program through your own bank New Jersey State Financial Resources Income Tax Payment Deferral Information Private/ Corporate/ Third-Party Financial Resources New Jersey Business Action Center (BAC) New Jersey Department of Labor New Jersey Economic Development Authority (NJEDA) NJ Department of Labor Information For Employees regarding…
-
Small business crisis management update for Thursday April 2
My firm, based on the consensus of our active small business accounting industry groups, recommends that all small businesses submit online applications through the SBA for at least one of the two types of government loans. Some should be submitted by Friday April 3 to stand the best chance of approval. The amount should be…
-
Coronavirus Disaster Relief for Dummies
The title of this post might imply that I’m spoofing on the popular book series. That’s not my intent. The title of this post refers to the amount of deliberate or just unformed false information spewed out in social media about disaster relief right now. A lot of the misinformation appears to be coming from…
-
Small business disaster relief: What’s my next step
Self employed business owners want to know – Should I apply for the SBA loan/grant program? Is it really free money? Will I be approved? What will it cost to get my application approved? What’s the maximum benefit I can receive? If I apply, does that disqualify me for other financial assistance? Could it be…
-
59 Q&As on Families First Coronoavirus Response Act All Miss the Main Point!
The U. S. Department of Labor thoughtfully provides 59 Questions and Answers related to the Families First Coronavirus Response Act but omits the most common situation encountered in the small business market. So I will add Q and A #60 to the list: 60: What happens if my employer has lost 75% to 90% of…
-
“I hope you weren’t looking to read good news this morning”
A few clients and other people have commented about my lack of response to recent government actions. Some, I notice, seem to be enjoying an emotional buzz about jockeying for their potential share of the $2 Trillion government aid package. In short, it’s just that there isn’t much worthwhile for me to say about any…
-
Does this marketing strategy make sense?
I’ve been a subscriber to The Wall Street Journal for almost 40 years. I started way back in college, about age 19, after responding to a special offer to students. While I had already cultivated an interest in current events, reading the publications of Time, Esquire, Popular Science and The Wall Street Journal really helped…
-
How am I helping business owners survive the crisis
I might be known around here as the “crisis management guy”. In fact, most of my professional career was spent creating a path forward to help local small businesses climb from economic disaster. Until now, it was mostly a bad joke among peer CPAs. Now it is the most important professional focus that we need…
-
Ten tips on how to manage the small business cash flow crisis
Day by day, the real financial impact of the shutdown is sinking in for more Americans. Hardest hit are those who operate a small business. I recognized the early signs of this dramatic impact coming 10 days ago and shifted my tax advisory practice to a small business crisis management practice, drawing on the lessons…