Now that COVID19 has been declared a pandemic, businesses must assure they have a continuity plan and/or disaster recovery plan in place. As the situation escalates, we will continue to face emergency planning issues. The health of ourselves and employees, while preserving business continuity, are key to navigating the issue. Strong planning, the ability to adapt, and communication can help mitigate the virus’s consequences on you and your business.
Meara Welch Browne is continuing to monitor information issued by the IRS and the State Departments of Revenue for information that impacts your tax filing responsibilities. Our technology allows us to continue working and supporting you with your needs during this unsettling time by providing remote access at all times to all employees (as you probably already know since many times you may receive emails or other communications after hours, especially during busy season).
The economic turmoil will be causing significant disruptions to every-day business as we previously knew it. Key considerations include:
- Protecting yourself and employees
- Allowing or requiring remote work if/when necessary
- Determining if events/meetings need to be postponed
- Remaining in contact with employees, customers, and vendors if you need to close your business
- Collecting customer payments
- Paying employees and vendors
- Assisting customers in addressing the pandemic
- Arranging financing if cash flow is impacted
- Developing strategies to implement depending on the length and breadth of the economic impact
Remembering that all we have to fear is fear itself, and by properly developing and implementing a plan, we’ll navigate these times together.
Should you need any assistance with business planning, technology consulting, or brainstorming ideas, please contact us.