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