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These are certainly difficult and uncertain times, and the question of whether this is the right time to exit the business or continue until the pandemic passes, is something many are pondering. A business advisor can help and guide businessowners through this process to weight the best options available, maximize the value of the business and a potential higher return in a transaction.
As COVID-19 continues to spread worldwide, there is growing uncertainty pertaining to cash flows and economic activity. In these uncertain times, cash and liquidity needs are paramount. Consequently, decisions taken when budgeting or overseeing tasks related to cash flows can determine the organization’s future trajectory.
The CARES Act provided a new program - the Paycheck Protection Program (PPP), which was focused on encouraging employers to retain employees and maintain salaries during the rest of 2020.