The Covid-19 pandemic may just be one of the worst economic disasters the US has faced in recent decades. It has been seven months after the very first Covid-19 case in the United States. Hence, many are asking, “are we ready to reopen the economy, now?”
Last June, the Federal Reserve predicted that the US economy might shrink by as much as 6.5% by the end of 2020. One major cause of this problem is the closing of almost 20% of all small businesses across the country.
Unfortunately, many of these closed establishments are starting to feel the effects of their closure. Thus, it would be hard to blame them if many of them are losing patience with the shutdown.
If you are one of these business owners leaning towards reopening their businesses soon, here are some tips that may help you keep you, your business, and your people safe from Covid-19:
- Ask your employees: Forcing employees to go back to their offices when they’re not ready may be less beneficial than you think.
- Reassess your client’s needs: The pandemic has affected the spending habits consumers and businesses. Update your marketing strategy to take into account these changes.
- Consider Work From Home: If you are in an industry that doesn’t require your employees to be physically present, a work-from-home arrangement may be beneficial for both of you and your employees.
You can read more on this topic with this article with the title “Advice for firms thinking about reopening.” The article was published by Anita Dennis last June 16, 2020.
Advice for firms thinking about reopening
A rise in COVID-19 cases in parts of the country has complicated many CPA firms’ decisions about whether to reopen their offices and allow employees to return. They must consider how to offer their services in a way that meets clients’ needs while protecting both clients and staff.
Leaders at firms that are moving toward reopening share how they’re tackling the challenge, and the owner of an all-virtual firm shares his advice for maintaining relationships with clients from a distance. Click here to read more…
Anita Deniss’ article highlights the benefits of letting employees work in the comforts of their homes. Work-From-Home arrangements or WFH has been a buzzword across the world since the start of the pandemic. Many business owners, however, are dumb-founded on how such an unconventional method may benefit their businesses.
Besides the obvious benefits like reduced commute time for employees and fewer overhead costs for employers, WFH arrangements can benefit both parties in many other ways. Megan Hart explores the feasibility of WFH arrangements in this article she published in the Journal of Accountancy last July 14, 2020.
Remote work after the pandemic
The dramatic rise of remote work in response to the coronavirus pandemic may have lasting effects on the number of employees who wish to work from home.
Even as offices reopen, organizations shouldn’t expect everything to return to normal. Although some employees may be eager to return to in-person collaboration with their colleagues, others may prefer to continue working from home. Click here to read more…
It is undeniable that there are some risks in reopening our businesses during the pandemic. However, with proper planning and consultations, you can protect your employees and your businesses from unforeseen problems. You also need to weigh the pros and cons of every policy you will implement once you reopen.
Our experts here at Aldaris CPA can provide you with top-notch and reliable business consultations. We offer one of the best bookkeeping services, tax preparation, and business planning services across the West Seattle and Northwest Washington areas. Book an appointment with us to learn more.