This new normal, what will it look like in a few days, weeks, or months? Yes, some may physically be back at the office or having in-person meetings again, while others may be forever changing how they do business. The common factor between those returning physically to a pre-COVID existence, and those setting a new path for themselves will be a realization that our reliance on any outsourced service provider before the outbreak was nothing compared to what it will be moving forward.» Read More
Time to learn from the past. If COVID-19 taught us anything, it is that businesses need to be ready with alternative sources of supply and distribution. Yes, we can focus on what we discussed in our previous article, “The Pandemic Effect: Sale of a Business,” like force majeure, impossibility of performance, and frustration of purpose, but it is better (and healthier) to prepare your business as though this will happen again, because experts say it will.» Read More
M&A activity in the investment advisory space was occurring at a fevered pitch at the beginning of the year. However, the downturn in the market, along with the uncertainty clouding the next few months, has slowed and even halted many of these transactions.» Read More
Among the many transformational changes caused by the coronavirus (COVID-19) pandemic, the way lawyers and clients approach the sale or acquisition of a business unquestionably will change forever. This article is not about any business sale or acquisition disrupted by the pandemic but about looking forward.» Read More
As a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Small Business Administration (SBA) loan program has been expanded for qualifying businesses and qualifying self-employed individuals. The CARES Act’s “Paycheck Protection Program” provides 100% federally backed SBA loans to cover operational costs like rent, payroll, employee health benefits, interest on other debt obligations, insurance, and utilities, among others.» Read More
