Like any crisis, the global COVID-19 pandemic will eventually pass. Accountants will play a crucial role in assisting SME’s in finding the best measures to brave the current crisis and prepare themselves for the new normal.
In late June, the small business survey by Census Bureau indicated that almost 90% of small businesses experienced a strong (51%) or moderate (38%) negative impact from the pandemic. Supply chain disruptions were experienced by 45% of businesses, and 25% of businesses witnessed cash reserves issues. So, accountants just need to:
