PPP Loan Forgiveness Updates

If your business was the recipient of loan funds through the Paycheck Protection Program, the deadline for submitting your application to your lender for PPP loan forgiveness has been extended, according to the US Small Business Association (SBA). Originally expected to be October 31st, your deadline to apply will instead be the maturity date of …

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Now is the Time to Start Exit Planning – Here’s Why

Many business owners feel shaken by the impact of the pandemic on the business climate and may be questioning whether their vision of the future is still possible. One of the best antidotes to uncertainty is having a solid plan! It’s never the wrong time to start exit planning, and the more lead time you …

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Peers – A Lifeline Through the Pandemic

The Exit Planning Peer Advisory Board (PAB) provides a safe place for business owners to discuss their challenges and offer support and insights to their fellow members. A look back at the last few meetings reveals another layer of the group’s value. The events of this year have put businesses and their leaders to the …

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What Does Re-Emergence Look Like for Your Business?

“Expect the best. Prepare for the worst. Capitalize on what comes.” – Zig Ziglar At our July Peer Advisory Board (PAB) meeting on Exit Planning, the discussion was around what business looks like as we re-emerge and get back to business in this phase of the COVID-19 pandemic. We focused on addressing what responsibilities business …

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Get the Greatest Benefit From Your PPP Funds

The rules and requirements associated with the Paycheck Protection Program (PPP), administered through the Small Business Administration, have undergone some changes as the program has evolved. If you’ve received these funds, check with your lender or CPA periodically to ensure that you’re in compliance.

June 30th is the deadline to apply if you haven’t already and are eligible. Let’s review the basics.

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Cultivating Company Culture in the COVID Era

Company culture – it’s a foundational element of your business. But with recent changes in how we do business, making culture a priority can be challenging. Employees may be working from multiple locations and on different schedules, how you connect with customers has likely changed, and potentially, you’ve pivoted in terms of the products and …

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Is It Time to Consider Selling Your Business?

The sudden and unexpected economic impact of issues surrounding COVID-19 likely has business owners who were considering selling and exiting their business reconsidering their strategy. The influence of these external factors may not be something you’d factored in or for which you have a contingency plan. So now, when it is clear what elements may …

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Maintaining Business Value through Uncertain Times

With stock fluctuations, speculation and unknowns swirling around the coronavirus situation, business owners are focused first on ways to continue doing business. But especially for those who are planning to exit their businesses in the next few years, there is concern about maintaining the value of their business. First, some general advice…. Don’t panic – …

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How a CPA Can Help Keep Your Exit Plan on Track

Every business owner needs an exit plan in place many years before his or her intended exit date. Once your exit strategy and plan have been developed, an essential next step in the process is assembling a team of preferred advisors. Your exit planning expert will likely be at the hub of that team, interfacing …

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The Importance of a Buy-Sell Agreement – Even if Your Partner is Your BFF

A buy-sell agreement, also referred to as a buyout agreement or business continuity agreement, is a contract that provides for the sale of an owner’s share of a business should certain events occur. When you start a business with one or more partners, your intention is to be in it for the long haul. If …

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