In these days of “unprecedented times,” during which American businesses have been hit hard by COVID-19, business owners are struggling to determine how to be proactive and arm themselves for the economic threats that are still to come. Following is guidance based on my experience as a Chapter 11 bankruptcy attorney representing businesses and creditors
People’s online microbusinesses and side hustles might be helping their hometowns’ resilience during the COVID-19 pandemic, a new study by the web-hosting company GoDaddy suggests. That includes people such as Nashville-based Chef Zach Sass, who was laid off as a result of virus-related restaurant closures. As a stopgap, he started a coronavirus-era business as a
Before the novel coronavirus hit, employer health benefits were already expected to rise 5% this year, according to the National Business Group on Health’s (NBGH) 2020 Large Employers’ Health Care Strategy and Plan Design Survey. The survey estimated the total cost of health care to be $15,375 per employee, including premiums and out-of-pocket costs for employees
The COVID-19 pandemic has had significant ramifications on the economy. One survey found that because of the virus, 31% of small and medium-sized businesses had to close down completely, and 41% of owners had to dip into their personal savings to stay afloat. While these numbers sound grim, a downturn can actually be a great
Various areas of the country are reopening after COVID-19 forced much of the country to either work from home or apply for unemployment benefits. As more companies make plans for employees to return to the office, a new Korn Ferry survey indicates that employees might not be ready. Half of those surveyed are afraid for
COVID-19 has already shifted the way the world works, but that shift is unlikely to go anywhere once a vaccine rolls around. The pandemic has caused worker productivity to drop by more than 7%, and that number is sure to grow unless employees and companies alike adopt new on-the-job strategies. The coming months will likely