Small Business: COVID-19 Checklist – Top issues for small businesses affected by COVID-19

COVID-19 Checklist and Top Issues for Small Businesses

Download Small-Business_Covid-19_-Issues-Checklist.pdf

– Contractual Obligations to Clients, Suppliers, Vendors, etc.

• Identify key customers and devise plan on how to best serve them during thistime
• Identifykey vendors/suppliers and consider developing professional relationships with more than one for each crucial role in case they are unable to serve your needs
• Identify any force majeure or impossibility clauses in agreements, particularlyreferences such as “pandemics”, “acts of government” or “diseases”
• Considertermination provisions such as termination for convenience, change of law, material adverse effect

– Regulatory Issues and Compliance Obligations

• Considerapplication delays for business permits
• Evaluatetax implications with respect to updated policies/laws

– Employment and Employee Benefits

• Ensureemployment law compliance with respect to employees
• Considerbenefits for workers impacted by COVID-19
• Considerpaid sick leave policies

– Commercial Real Estate

• Identifyupdated policies and repercussions for non-payment of rent, mortgages,  due to impact on business

– Insurance Coverage

• Reviewrelevant insurance policies including property/business interruption, event cancellation

– Business Strategy and Adjustment

• Consideralternative business models/develop plan for changing conditions
• Considerbusiness loan opportunities/risks
• Observemarket supply/demand
• Trackinventory
• Observe/considerprice increases
• Informcustomers about any changes in schedules, supplies, 
• Implementopen lines of communication to provide employee updates

Attachment Small-Business_Covid-19_-Issues-Checklist.pdf