As the calamity continues to change and governments around the world organize to solve the immediate threat, the long-term strategic impacts of COVID-19 also require analysis and strategic planning. All businesses, regardless of size, should prepare for the long-term impacts of COVID-19 in the workplace. In addition to the immediate effects on their operations, it is equally important to make sure they are prepared for a possible economic downturn in these moments. Confronting legal needs can seem like a daunting task at this time, but it's always best to start protecting your business before it's too late. There are several key legal documents that are essential and will need to be analyzed before you get back to business operations.
Changes to Local Rules and Regulations for Southern Nevada Businesses
With the passing of the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, businesses are recommended to review the resources available to them to battle the effects of COVID-19 on their operations. We'll focus on the resources set aside for companies that meet the Small Business criteria. $350 billion has been allocated for the SBA to provide loans of up to $10 million per business. These funds include emergency grants, forgivable loans, or relief for existing loans. The program is intended to help business owners pay for overhead costs such as payroll, rent, and utilities.