How to Achieve Payroll During Coronavirus

Payroll and Coronavirus

One of the problems that most of our clients are facing as a result of Coronavirus are issues around pay day. If you can’t pay your employees, how can you keep your head above water, especially during this time? If you don’t want to close during the Coronavirus, you will need to keep on your payroll. Right now a paycheck is life changing. Make sure that you’re helping your employees the best way possible.

Feeling like your business isn’t going the right way? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.

Keeping on Payroll, Despite COVID-19

There are a number of programs right now across the world that are helping people maintain their employees during the coronavirus outbreak. Some of New York City’s COVID-19 measures, for example, involves paying a percentage of payroll. These programs aren’t perfect, but some of them are doing the job that they can. 

A similar program from a company called Paycor is providing payroll relief as a result of Coronavirus as well. If you switch to Paycor for your payroll work, they are offering up to three months of COVID-19 recovery. You can go to their website for more information about this. While finding a paycheck can be difficult right now, you can save your employees a lot of struggle by finding ways to keep them staffed during these times.

Living Paycheck to Paycheck as a CEO

If you’re a business owner and are trying to find a way to keep yourself solvent, there are ways to keep your business working for you. Living paycheck-to-paycheck can do a lot of damage to your personal finances and credit, as well as to your employees. Obviously, most businesses aren’t looking to grow right now, but someday soon you may find yourself in that position again.  

If this applies to you, there are a few places to check for fixes. During these days of Coronaviruspaying yourself might not be your top priority. But our two biggest pieces of advice are to make sure that your revenue is going int the proper direction, and that your expenses aren’t out of control. If it is possible to cut costs in your business while things are shut down, like cutting back on power or finding ways to save on utilities and rent, try that. It might take a lot of clever accounting for the moment, but you can keep ahead of some of the larger problems. 

Of Payroll and Coronavirus

If these problems apply to you, know that you’re not alone. We are happy to help you however we can. A lot of our clients are in similar situations when it comes to pay day and trying to stay financially afloat despite COVID-19 is tough. We all need help, now more than ever. 

At ProStrategix, we know you have concerns.  We’re designed to help give you the business support you need so you can focus on doing what you love.  If you would like to learn about how we might be able to help you, please contact us.

The Art of Delegation: A Small Business Webinar

The Art of Delegation

If you’ve been reading our blog for a while, you know how passionate we are about the art of delegation. In fact, we finally made one of our webinars about that very topic… The Art of Delegation! Watch our newest video all about delegating and making sure your talent is treated right. 

The Small Business Bootcamp is a LinkedIn group and weekly newsletter which provides information on how to improve your small business. We discuss everything from marketing to employment to getting loans and more. Once a month we provide a webinar that outlines a content stream that we then talk about for the rest of the month.

Thinking about making changes to your business? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.

The Art of Delegation: A Webinar

In March we shared our video about the art of delegation. It took a number of our articles from the past and put them into a new context. We also demonstrated our delegation exercise live, which might help a lot of our viewers understand these videos in a new way.  

If you’re confused about how to handle your talent and what to do with delegation, this is the video for you! 

If you want to know more, join our LinkedIn group. It might help you learn more. This group includes small business owners across the New York area who are in similar positions. We want to help small business owners, and how better to do that than communicating.  

Join us, won’t you?

At ProStrategix, we know you have concerns.  We’re designed to help give you the business support you need so you can focus on doing what you love.  If you would like to learn about how we might be able to help you, please contact us.

Unemployment Under Coronavirus: What to Know

Coronavirus and unemployment

The number of Americans that filed for unemployment during the week of March 16th is nearly five times the record set in 1982. Unemployment as a result of Coronavirus is a massive concern. Whether you are facing unemployment yourself or if you are going to need to lay off or furlough your employees, stuff isn’t easy. But this isn’t a reason to give up on your business and hopes. A global shutdown can be survivable. 

Thinking about making changes to your business? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.

The Facts of COVID-19 Unemployment

According to the Associated Press, there were 3.3 million Americans who filed for unemployment in a single week due to the Coronavirus epidemic. This number is huge. Unemployment numbers haven’t even hit these highs in the decade’s past two recessions. Job loss could hit 13% by May if this continues. The 3.3 is in a single week as well, which is hard to even comprehend. In states like Nevada and Louisiana, the unemployment rate was 15x the week previous.  

This also doesn’t count gig-workers and freelancers, nor the self-employed. That means that these workers are unable to seek unemployment benefits. They’re facing less work as well but without the benefits. As layoffs continue and more people apply for benefits, there are a lot of problems. And it isn’t like this will switch back to normal tomorrow. We are looking at a new reality. 

So what next?

What to Do if You’re Facing Unemployment

If you’ve found yourself unemployed, then our best advice to you is to look for protections. Filing for unemployment is a good step, and now is a good time to set your own business up for successIf you are a gig worker, that also could be tough. This might make things easier to jump back into the market, though.  

If you need a job, there are several opportunities opening in high-intensity industries now. This includes hospital opportunities. Some food service gigs are also in need of assistance. But the thing you may need to do is… wait. Things are in a very odd place right now, you might need to wait. Hopefully, stuff is about to change.

What to Do if You’re an Employer

Things are tough on all sides right now. That includes for small business owners. If you’re an employer, here are some of the tips to make sure you have a staff when businesses return to normal.

Treat your current employees well

If you are lucky enough to still be operating right now, make sure your employees are being treated right. This could involve flexible schedules during these crazy times, or remote work. Attracting and retaining talent during the Coronavirus era to beat unemployment.

Look to marginalized groups for new employment

If you are going to need to hire a new staff, you’ll likely be looking at a far different job market. If that’s the case, look for talent that doesn’t have your background. Marginalized groups have tough times when it comes to hiring, and that will be twice as true in the coming storm. Eliminate societal biases in order to combat unemployment due to COVID.

Go to your neighbors for help

Other small businesses are facing problems at the same time you are. Work together to succeed as small business ownersdespite these trying times. A lot of businesses will fail during the current situation, just do what you can to make sure you aren’t one of them. Ask for help from friends and other businesses. Kickstart everything as you need it.

What Will Unemployment Look Like After Coronavirus?

The world isn’t ending, but it feels like it. Unemployment numbers are at a high, but hopefully, that will change back to normal after COVID-19 runs its course. Prepare for a brave new world now so that you can get ahead of the curve.

Also  –  Flatten the curve!

At ProStrategix, we know you have concerns.  We’re designed to help give you the business support you need so you can focus on doing what you love.  If you would like to learn about how we might be able to help you, please contact us.

YouTube, Streaming, and COVID-19: What to Know

COVID and YouTube

COVID-19 and work from home life have turned many people into homebodies. And that has led, naturally to a massive jump in streaming. YouTube has become a major area where businesspeople and content makers can put their work out to a massive audience, even with the fears of COVID. We have been putting out webinars for several months now, and you might benefit from this format as well. 

Thinking about making changes to your business? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.

Google’s Advice about YouTube and COVID Social Distancing

Google has been tracking trends of what kinds of videos people have been streaming amid Coronavirus chaos. Here are the five categories that they have seen massive jumps in. If you’re in these markets or are looking to get YouTube views, look for these areas in order to really succeed. 

1.  Work-from home essentials

With so many people setting their own hours and working from homes, a lot of flexibility is needed for everyone. Some people are work-from-home pros, but there are a lot of people who are completely out of their element right now. Whether you’re working from home regularly or just because of COVID, you can benefit on some YouTube videos about good behaviors for it.

2.  Study tips

This is much more for students than for people in the workforce, but there are ways we can adapt these ideas ourselves. If you’re missing the sounds of office chatter and keyboards typing, you might want some white noise kinds of videos. And more than that, everyone can benefit from some tips on how to work with co-workers over Zoom and the like. There is an etiquette to this kind of behavior.

3.  Pantry meals

For our food industry friends, this might be a great field to make content in. With people wary of grocery stores out of caution of Coronavirus, a lot of home-cooks are turninto YouTube videos from places like Bon Appetit and Food Network and more to learn how to make the most of what is in their own home. Chefs and restauranteurs could really find a niche making content in this community.

4. Stress reduction

Suffice to say, people are stressed out right now. And having Coronavirus stress on top of small business stress surely has a lot of people streaming meditation videos right now… including myself! Coping with stress is never easy, but it doesn’t have to be the end of anything. Friends of ours who work in Yoga and Spa businesses might be in the easiest position to make content like this on YouTube during the Coronavirus.

5.  In-home fitness

Without gyms to go to, a lot of people are turning to videos on YouTube to work out. If you’re a gym owner, you might want to get in on this while you can. However, just be aware that there are thousands of competitors out there to contend with

The Downside of Streaming During Coronavirus

One of the consequences of streaming media during COVID-19 is something no one predicted. There are so many people streaming all the time that Netflix and YouTube have both switched to standard definition. With so many millions of people currently at home with nothing better to do than watch a movie or browse YouTube, computers are getting stressed. If you are a content maker or even just someone browsing videos, keep this in mind. YouTube is making standard definition the default, but don’t stress the system if you don’t need to. You can survive without HD. 

In Summary...

Now is the perfect time to turn to YouTube. Whether to make content, to learn a new skill, or to distract yourself you can go online. And as more people stream, the bigger the stress on the system. If you can, contribute one-of-a-kind videos that are from your unique perspective. And if you’re feeling stressed, look for something that can help you! With over a billion videos, you’ll probably find something to help you out. Maybe even a webinar from people in your small business community  (like us!).

At ProStrategix, we know you have concerns.  We’re designed to help give you the business support you need so you can focus on doing what you love.  If you would like to learn about how we might be able to help you, please contact us.

The Coronavirus Bill: What to Know and How to Benefit

Coronavirus Bill

Legislation that went through the United States Congress this weekend looks like it could be the first massive action taken by the government to address Coronavirus concerns. The $2 trillion bill addresses everything from direct payments to individuals to small business loans. Read on as we address how the COVID-19 Bill will impact your small business and how it can help you too. 

Thinking about making changes to your business? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.

The Logistics of the Coronavirus Bill

As of the writing of this post on Thursday afternoon, the Senate has passed the bill 96-to-0, meaning it now has to go to the House of Representatives and finally to President Trump himselfThe bill comes after much debate between Democrats and Republicans about how best to pass a Bill protecting workers and businesses. This all comes following economic calamity across the country, from the stock market to employment numbers. 

The two trillion dollars will go to a number of different services and industries. There are bailouts for major flight companies and for hospitals/healthcare. Right now, we will focus on the ones most likely to help small businesses and small business owners.

Payments to Individuals

The most talked about measure in this bill is likely going to be the individual payments for all. The federal government is providing direct deposit payments of $1,200 to millions of Americans. This is almost unprecedented in US history, a kind of universal basic income for all. That said, payments like this will allow millions to of people who are recently out of work to pay their bills this month.  

This legislation will be a game changer for US politics, and it is going to have a massive impact on future initiatives. But for now, it is a necessary move. Too many people are having financial problems or looking at unemployment to ignore. 

On top of this, a restructuring of the unemployment program is coming. This will help even more people that are in need of help today. 

Small Business Help

The relationship between the Coronavirus Bill and small businesses is complicated. Different industries get more money, especially based on what can stay open and what cannot. That said, Democrats pushed for measures that allow for emergency loans issued by the Treasury Department. Furthermore, the legislation will “shore up hundreds of billions of dollars’ worth of loans” according to Business Insider. This is a boon to small businesses that are struggling as a result of Coronavirus, especially ones who need cash as soon as possible.  

If you are having a hard time keeping your business open in these trying times, it might be the opportunity to recover your business. That said, there are a number of protections for workers that need to be noted as well, things that could change the relationship they have to the employer. Be sure too see what you are entitled to, and make sure you keep your staff healthy in this trying time.  

In Conclusion...

This probably isn’t going to be the last bill passed due to Coronavirus in the US. In fact, it hasn’t even been passed yet as I write this (call it wishful thinking). But it is the first, and it sets a tone for what you can achieve. Stay informed about COVID and your business should stay above water through all of this.