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COVID- 19
In a matter of weeks, the coronavirus pandemic has wreaked havoc throughout the world. We all find ourselves living in a reality much different than we could have ever imagined merely a few months ago. We recognize the uncertainty and financial hardships COVID-19 has caused for businesses and business owners. The Law for All, P.A. is here to assist you navigate these uncharted waters with an easy 4 step process.
Step 1 - Evaluate your business
Step 2 - Explore Financial Assistance
Step 3 - Know the Law - Employment considerations
Step 4 - Develop a Game Plan to Adapt
Step 1 - Evaluate your business
- Conduct a comprehensive business inspection with a licensed business attorney*
- Make a list of current business expenses
- Look at sources of your business revenue
- Create cash flow projection and update bi-weekly
- Make list of KEY components of your business and staff and develop contingency plans
- Get help - don't do this alone
Step 2- Explore Financial Assistance
Financial Assistance:
- Small Business Administration Loans:
- You can find additional information directly from the Small Business Administration
- Florida Small Business Emergency Bridge Loan
- Main Street Business Lending Program from Federal Reserve Bank
- Program details have not yet been released, but are expected soon.
Step 3- Know the Law - Employment considerations
Employment Information:
- On March 18, 2020, the Families First Coronavirus Response Act (“FFCRA”) was signed into law, which goes into effect on April 1, 2020.
- The Act provides employees affected by the coronavirus with paid sick and emergency leave and creates tax credits for affected employers, expands food and nutrition services, allows for emergency state unemployment insurance grants and increases Medicaid funding to states, among other things.
- The Act applies to business with 1 -499 employees, but there are certain exceptions for health care providers, emergency responders, and businesses with fewer than 50 employees.
- Most employers are required to provide written notice to employees of the options available to them, along with posting a notice at the workplace. The Department of Labor has issued suggested notices for businesses to use.
- There are two separate acts contained within the FFCRA:
- Emergency Paid Sick Leave Act
- Emergency Family and Medical Leave Expansion Act
Step 4- Develop a Game Plan to Adapt
- Business attorneys – FLLawForAll.com
- Business coaches
- Industry Trade Associations
- Many local businesses are offering free or reduced cost services to small business
- Small Business Administration – sba.gov
- Department of Labor – dol.gov
- Fort Lauderdale Chamber of Commerce - https://www.ftlchamber.com/
- State of Florida
- Free 50-point business inspection
- Free virtual consultation (telephone or video chat)
- Monthly General Counsel Services
- Asset Protection Evaluation and Planning
- Lending Assistance
- Contract Review and Advisement/Negotiations
We are here to help you navigate through these uncertain times. Click here for a free business inspection and virtual strategy session.
