Small Business and Coronavirus

[sutomcat]

This post is for people with small businesses to discuss how the pandemic is affecting things and strategies to get through the crisis.

Good luck to all of you.

 

[corpjet]

We own a dumpster rental company in Indianapolis, Indiana and Columbus, Ohio.

It's too early to tell for us the effect but Im hopeful we won't be shut down as trash is considered "essential" if anything we have seen a bit of an uptick in business with people trapped at home and wanting to do some cleaning.

We are entering our busy season when home owners start their spring cleaning and as I say come out of "hibernation" and get their projects started around the house. Our contractor business has kept us busy as they seem to still be working.

I certainly feel for those in restaurants and hospitality who are taking this on the chin, we all know lots of people who are trying to survive right now.

At the end of the day I think as a nation we will be stronger once we get through this and less reliant on China and other foreign nations for product.

 

[sufandu]

We own a dumpster rental company in Indianapolis, Indiana and Columbus, Ohio.

It's too early to tell for us the effect but Im hopeful we won't be shut down as trash is considered "essential" if anything we have seen a but of an uptick in business with people trapped at home and wanting to do some cleaning.

We are entering our busy season when home owners start their spring cleaning and as I say come out of "hibernation" and get their projects started around the house. Our contractor business has also kept us busy as they seem to still be working.

I certainly feel for those in restaurants and hospitality who are taking this on the chin, we all know lots of people who are trying to survive right now.

At the end of the day I think as a nation we will be stronger once we get through this and less reliant on China and other foreign nations for product.

Yes. I hope this is a lesson learned.

 

[MadNY3]

We invest in start-up businesses (and do marketing, weird, I know) that are digitally-birthed. Some ecommerce businesses are doing well, while others, worried about sustainable burn rates, are cutting staff. One growing business made a decision to layoff 20-25% of it's staff today (in CA and TN) to brace for what's ahead. Battening down the hatches is in full force.

Hospitality is going to get crushed. 25-30% of all restaurants that close, may never come back.

This is going to hurt BAD. Hoping that by third quarter, things get positive again.

 

[upperdeck]

restaurants start and close all the time though.. Have to think someone else thinks they can jump in and do it.

 

[OttoinGrotto]

I have a friend that works for this company - Small business guide for dealing with the coronavirus / COVID-19 crisis | Womply

They're also offering $1000 small business loans.

 

[temery]

Note to anyone replying: Stay on topic. This isn't a thread to debate anything,

If your business, ability to earn, or family has been affected, feel free to post anything that may help you, your business, or your family get though the worst of what may be coming.

 

[SUFan44]

Might I recommend pinning this thread so it does not get lost?

 

[miamicuse]

I own a number of rentals, and I expect a number of my tenants not being able to make rent soon. I have tenants who are hair dressers, event coordinators, flight attendants who are not working right now. When they can't make rent I can't evict them because it's not the right thing to do in this situation, and eviction is suspended anyways. I struggle to figure out how to mitigate this as there is no end in sight, and then I heard tenant George in apartment B said "If Carol in apartment C is not paying I am not paying either", meanwhile I still have to pay utilities, property taxes, insurances, mortgages, maintenance and services for these properties, and everyone automatically assume landlords are super wealthy with millions of cash in the bank sitting idle.

 

[Zelda Zonk]

Freelance Graphic Designer. My clients at the moment are events-based. And just had to cancel major conferences in NYC, Cannes, and Shanghai over the next few months. So, no work for me.

 

[Orange Barrel]

Freelance location audio mixer/recorder. Corporate, indie, tv, docs, etc. Production has stopped in what was a very busy market (Philly). All of my March jobs have cancelled.

 

[FreakTalksAboutSU]

I am a small business owner. I am sure that others on here must be as well. Would there be any interest in a board where we can discuss ideas of how to get through what is happening and how you are proceeding?

not local. and no idea what you sell. but if i can buy things remotely from people on here, and you ship, i would be happy to do so...

 

[OburgOrange]

I own a number of rentals, and I expect a number of my tenants not being able to make rent soon. I have tenants who are hair dressers, event coordinators, flight attendants who are not working right now. When they can't make rent I can't evict them because it's not the right thing to do in this situation, and eviction is suspended anyways. I struggle to figure out how to mitigate this as there is no end in sight, and then I heard tenant George in apartment B said "If Carol in apartment C is not paying I am not paying either", meanwhile I still have to pay utilities, property taxes, insurances, mortgages, maintenance and services for these properties, and everyone automatically assume landlords are super wealthy with millions of cash in the bank sitting idle.

I’m in the same boat as you. Our bills don’t stop. Cuomo announced mortgage relief for 90 days. Does that apply to us as well?

 

[Jasoncuse]

We shut down all our manufacturing and shipping operations today even though we can possibly claim being an “essential” business. Those of us who can, will work remotely. We just got to the point that we’d rather our staff be safe and with their families, instead of working with skeleton crews. It stinks for everyone. It’s going to get tough if this operational lockdown lasts more than 3-4 weeks.

 

[Orangezoo]

It's tough sledding. My father has two, one of which I helped him build. His barber shop just shut down in PA after mandatory closures. They setup a 1 person by appt only approach where each barber is in one day of the week and clients wait in cars. A semi takeout approach. Got approval for exception.

Other business is bottled water delivery. Considered essential. Tough thing is getting supplies to wipe down bottles that are empty for safety of drivers but also that don't interact with the bottle materials. Business is booming here but drivers are very nervous. Still going but it's tough.

Very much hopeful the stimulus is passed soon. Getting some income would be a huge lift to all in the small business community especially employees of. Has anyone reached out for SBA disaster assistance yet?

 

[Capt. Tuttle]

not local. and no idea what you sell. but if i can buy things remotely from people on here, and you ship, i would be happy to do so...

Thanks. I have an estate planning law firm. We also get people on Medicaid to help keep them at home or pay for nursing home care without going bankrupt.
For the first time in over 30 years as an employer, I had to lay people off, including my daughter.
I called my state senator's office and was told they think I am okay to stay open, but if folks don't come in...
It's a scary time.

 

[Capt. Tuttle]

Am interesting piece of information. This was pointed out to me by my payroll company, which factored into my decision to lay off 1/3 of my staff today.
If someone on your payroll has a qualifying Covid19 event that prevents them from working, the business must pay their wages, up to I think $530 a week, until they return. It's about 1/2 of that if they have to care for someone impacted. (You can seek a waiver, but must pay while that is pending.)
Speak with your payroll people.

 

[Capt. Tuttle]

Thanks for starting this, Tom.

 

[Capt. Tuttle]

It's tough sledding. My father has two, one of which I helped him build. His barber shop just shut down in PA after mandatory closures. They setup a 1 person by appt only approach where each barber is in one day of the week and clients wait in cars. A semi takeout approach. Got approval for exception.

Other business is bottled water delivery. Considered essential. Tough thing is getting supplies to wipe down bottles that are empty for safety of drivers but also that don't interact with the bottle materials. Business is booming here but drivers are very nervous. Still going but it's tough.

Very much hopeful the stimulus is passed soon. Getting some income would be a huge lift to all in the small business community especially employees of. Has anyone reached out for SBA disaster assistance yet?

What I saw on SBA is the need to show that you can't get credit elsewhere. Could be wrong information.

 

[OrangeTarheel]

What I saw on SBA is the need to show that you can't get credit elsewhere. Could be wrong information.

That’s my understanding as well. And five weeks minimum before you see that money

 

[OrangeTarheel]

If loans are being excused for homeowners until the end of the year then why not small business

 

[jgeorge322]

Is there insurance coverage for business interruption?

 

[Capt. Tuttle]

Is there insurance coverage for business interruption?

My CFO looked into our policy. Was told that viruses/bacteria not covered, but they think the Feds might step in on that. Don't hold breath.

 

[alphaorange]

Am interesting piece of information. This was pointed out to me by my payroll company, which factored into my decision to lay off 1/3 of my staff today.
If someone on your payroll has a qualifying Covid19 event that prevents them from working, the business must pay their wages, up to I think $530 a week, until they return. It's about 1/2 of that if they have to care for someone impacted. (You can seek a waiver, but must pay while that is pending.)
Speak with your payroll people.

Not that I doubt your source, but can you provide a link as I am unable to find anything like that. For me, if I have to pay that amount and this ends up being a protracted health event, I will have to shutter my doors. We work for companies that supply components for the US navy and SpaceX and could not weather these restrictions long term.

 

[DoctorBombay]

This post is for people with small businesses to discuss how the pandemic is affecting things and strategies to get through the crisis.

Good luck to all of you.

I'm currently under a 5-year contract as a Business Coach for a large multinational based in the SEastern US and the Phillipines. Ironically we were hit hard a few months back because of the Taal Volcano eruption & most of our overseas workforce had already transitioned to W@H, or been laid off.
This is a whole new ballgame though. We're updating our systems to transition staff to W@H, and those who still need to come to work will be subject to thermal scanning to monitor their temperature, before being allowed in the facility- everyone enters and leaves through one entrance.
We're all kinda waiting on the NC Governor- if he gives the word to shut it all down, then we go full blast into the transition. Hoping that doesn't happen, but its looking more likely that it will.

Am also a private landlord with several properties, so of course that business is under strain for the forseeable future. Working with my tenants to see about maybe deferring their payments for a few months, but if this lasts longer than July/August, its gonna start getting ugly.