Q: As a small business owner, how should I determine next steps for my business in areas where I am experiencing uncertainty? Amid the Coronavirus (COVID-19) pandemic, much uncertainty remains. Rising numbers of confirmed cases in metropolitan areas have forced governments in certain states to order additional business closure requirements, adding to the uncertainty of…

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Q: When is the new deadline for PPP loan applications? On Saturday July 4, 2020, the President signed the “PPP Extension Act” into law. On Monday, July 6, the SBA’s Paycheck Protection Program resumed accepting loan applications. As the program’s initial deadline of June 30 approached, many small business owners wondered if there would be…

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Q: What are the main components of the recently enacted PPP Flex Act? After passage by the U.S. House of Representatives and the Senate on May 28 and June 3, respectively, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 into law on June 5. Following the enactment of the PPP Flex Act,…

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Q: As an entrepreneur, I often have new ideas for business opportunities. What is the best way to evaluate my ideas before developing a formal business plan? In previous weeks we have discussed financial relief opportunities for small businesses, marketing and business planning measures, and changing consumer behaviors or expectations. Amid the Coronavirus (COVID-19) pandemic…

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Q – As a small business owner, how can I adapt or appeal to changes in consumer behavior spurred by the pandemic? In last week’s post, we began our discussion of changing consumer expectations by introducing the idea of 4 categories of consumer sentiment post restrictive orders. The question becomes, how can a small business…

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Q: As a small business owner, what can I anticipate about consumer behavior as restrictive orders across the country are lifted? Previously, we discussed reevaluating and revising marketing plans. In doing so, questions may arise regarding a business’s target market, and how consumers’ spending habits may have been impacted by the Coronavirus (COVID-19) pandemic. The…

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Q: As a small business owner preparing to re-open what should I be doing to evaluate and prepare past and future marketing activities? In last week’s post, we discussed researching CDC guidelines for business in relation to COVID-19 and the importance of implementing corresponding policies and procedures. Just as COVID-19 has elevated health and safety,…

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Q: How much additional funding was approved for SBA loan programs providing financial assistance in response to the Coronavirus (COVID-19) outbreak? In our previous blog post, we discussed the status of the congressional debate surrounding additional funding for the Paycheck Protection Program. After approval by both the Senate and the House of Representatives, President Trump…

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