Help is finally here: our speaker series officially launched on August 11th with the event, “Navigating the Tough Terrain of the Hospitality Industry - Financial and legal guidance for your business in the wake of COVID.”
I hosted the webinar with attorney Troy Hutchinson, founding partner of Rock Hutchinson PLLP. Together, we explored some of the key problems facing small businesses today, including financial forecasting, lease and mortgage issues, supply chain and options for selling your business.
Below are a few key takeaways from our first event! Don’t forget to subscribe to our newsletter and follow Mike on LinkedIn to stay in the know about future speaker series details.
It’s important to consider your financial options. Debt-to-equity swaps, SBA funding and purchase order financing are all viable avenues for acquiring funding during the COVID economic crisis.
You’re not in this alone. Some issues are challenging entire industries (i.e., aluminum shortages). Work with partner companies to pool resources. Place bulk orders together to receive better pricing. By working together, you might be able to solve problems faster and more effectively.
You have leverage. Since so many businesses are struggling, landlords will have a hard time replacing their tenants. Talk with your landlord about mutually beneficial refinancing options, including deferred rent payments and lease extensions.
If you missed out on the chance to tune in live, you’re in luck! Watch the recording of our talk below or reach out to Mike directly if you have any questions and would like further guidance on managing your business in these hard times.