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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

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