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What the Paycheck Protection Program Flexibility Act means for small employers

Grace Ferguson Business Management, Services & Risk Management

The Paycheck Protection Program (PPP) has been criticized for being too stringent and not sufficiently addressing the longer-term effects of the COVID-19 crisis. As a result, the PPP has been modified to give small businesses more flexibility when utilizing PPP loans and to make it easier for them to obtain loan forgiveness. These changes are reflected in the Paycheck Protection Program Flexibility Act (PPPFA). Here's a non-exhaustive look at what the PPPFA means for small employers.

Shifting conditions present challenges for designers

Michael J. Berens Interior Design, Furnishings & Fixtures

At the beginning of the third quarter, as many states began to relax restrictions, business appeared to be picking up for interior designers in some sectors and regions of the country. With the recent resurgence in outbreaks of the coronavirus nationwide, however, activity has pulled back somewhat in recent weeks. In addition, delays in manufacturing and purchasing, along with a shortage of skilled tradespeople, have added to designers' challenges.

Online retailers struggle to keep up

Terri Williams Retail

COVID-19 and a lack of foot traffic have forced many brick-and-mortar stores to file for bankruptcy or liquidation. Neiman Marcus, J.C. Penney, Pier 1 Imports, California Pizza Kitchen, Brooks Brothers, and Ascena Retail are just some of the most recent companies to close stores. Online shopping has exploded, but as a result of increased demand, many online retailers are struggling with sales and support.

Survey: Bitcoin’s intrinsic properties keep propelling it forward

Tim Fries Business Management, Services & Risk Management

When cryptocurrencies first emerged on the scene, led by Bitcoin in 2009, the FinTech industry was just starting to mature. PayPal was around before that for quite a while, but with a limited country availability, slow withdrawals, and hefty fees. Today, FinTech services such as PayPal, TransferWise, Google Pay, alongside neobanks like Revolut and N26, offer near-instantaneous transfer with very low fees.

Cross-functional team collaborations: How-to

Ruben Franzen Business Management, Services & Risk Management

Businesses have always faced the problem of finding ways to get different departments with different expertise to collaborate. Cross-functional team collaboration can help a business find new ways to solve existing problems and open new avenues of communication. This story plays out worldwide every day; executives, managers, and team members want to collaborate and tap into the company's expertise, but there is no magic wand that makes it happen.

Marketing and sales alternatives as the COVID-19 crisis continues

Sheilamary Koch Marketing

Recently, a couple of business owners contacted me with the issue of how to sell when they can't connect live with prospective customers as the COVID-19 crisis continues. Moving operations online is a good place to start. That's where people are buying. At the same time, there are businesses getting creative with niche, offline and hybrid options that work for their products and customers.

How to have the difficult conversation when it is needed

Hank Boyer Business Management, Services & Risk Management

Planning is your No. 1 strategy when it comes to a difficult conversation. Not all things in life can and should be planned. But if you are the one initiating the difficult conversation, it is essential that you thoroughly plan for the conversation and plan for the things that will likely not go according to your preferred plan. Planning should take place at each of the stages below in order to assure that each stage goes as smoothly as possible.

Tips for hiring, onboarding and training employees remotely

Michelle Lanter Smith Business Management, Services & Risk Management

As COVID-19 continues to spread within the U.S., many employers have successfully shifted to operating remotely. However, some tasks are easier to transition than others. When it comes to hiring, onboarding and training new employees, some HR departments are struggling. Fortunately, there are strategies they can use to move more smoothly to working remotely, while improving the outcomes of these essential HR tasks.

Tap into board talent with a survey

Julie Taylor and Bob Harris Association Management

There are many ways to build a great board of directors. The process starts with a nominating committee interviewing and researching the backgrounds of volunteers. The committee may be limited by access to information about the candidates. If the committee deserts their task, you might hear them advise, "You won’t have to do anything when you get on the board."

Getting grounded: Implications for business

Linda Popky Business Management, Services & Risk Management

We may all be ready to be done with the coronavirus, but the virus isn’t ready to be done with us. As a result, some of the short-term changes to how and where we work may turn out to be more longer-term than we ever expected. Not only do we need to maintain social distance and wear masks when out and about near others, but we also have to face the fact that for the most part, we’ve all been grounded. What do you need to do to be as effective as possible given these constraints?

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