How To Survive As the Pandemic Winds Up Again

The Delta variant is blowing up models for what the private and public sectors would have looked like in September 2021.

Instead of a return back to a fairly normal lifestyle, everything’s all up in the air again.

And who knows how long any of this will last? What if other variants come into play in the future?

To top it all off, vaccination rates have fallen off more than models originally predicted.

So, it’s hard to say when society will get back to the way it was pre-COVID. That could still be years from now.

Fortunately, the internet is making business more than workable in the meantime. At the same time, you still have plenty of challenges to navigate.

Here’s some points to consider amidst all this chaos:

1. COVID-19 Stimulus Funds are Still Available

The PPP and the Restaurant Revitalization Fund no longer have any dollars available.

However, you can still get a loan for as much as $500,000 with 30-year repayment terms and a 3.75% interest rate from the SBA. This loan is still available through the end of the year.

You can also still get as much as $15,000 in grants if you get declined for an Economic Injury Disaster Loan.

Granted, these aren’t large amounts. But, every little bit counts.

You can also possibly get $28,000 per employee for the Employer Retention Tax Credit for 2021.

To qualify, you must show your business was fully or partially shut down in any quarter in 2021 or that your revenues declined by more than 20% in 2021 when compared to the same quarter in 2019.

You may also be able to get the Work Opportunity Tax Credit, which can run up to $9,600 per employee. To qualify, the employee must be released from prison, getting off welfare, or returning to work after 6 months of unemployment.

So, you have options available to help you out.

2. Assume Your Revenue Won’t Grow

Inflation is rising, making it difficult for consumers to purchase the same way they did in the past.

Major disruptions have been happening in supply chains.

We’re not saying your revenue won’t grow. The fact of the matter is that it might grow quite a bit.

However, you’re wisest to approach the coming months as if your revenue won’t grow because that’s the worst-case scenario.

And if you’re ready for a catastrophe, then you’re also prepared for anything short of that (including massive growth).

Consider your payroll, fixed, and discretionary costs. Compare your previous month’s revenues to the month before and the same month last year.

Create a worst-case scenario plan so you’re ready for anything.

Those are the main points to consider. Plan carefully so you come through not just okay, but better than ever before.