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re: When did PPP 8 weeks start?

Posted on 5/8/20 at 10:08 am to
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 5/8/20 at 10:08 am to
quote:

I went from 100% normal business March 14 to 0% in April due to government shutdown. So from March 21 until I received my PPP funds I went into savings/ debt/ whatever to pay my payroll due to loss of business due to government shutdown.


This is a difficult situation. I hope you make it through okay. I know for us, one of the silver linings of all this is that it’s forced us to pull expenses back as much as possible given a sudden shock in demand. As a new business, that’s the first time we’ve done that, and it’s been a great experience to see those plans play out successfully in real time.
Posted by baldona
Florida
Member since Feb 2016
20543 posts
Posted on 5/8/20 at 11:01 am to
quote:

This is a difficult situation. I hope you make it through okay. I know for us, one of the silver linings of all this is that it’s forced us to pull expenses back as much as possible given a sudden shock in demand. As a new business, that’s the first time we’ve done that, and it’s been a great experience to see those plans play out successfully in real time.


I will survive, my business will be here in 2021. My question I'm asking myself right now and crunching numbers on, is how much business should I even try for in 2020.

What I'm saying, is I'm considering essentially shutting down outside of what I can personally handle until this is well over and on the upswing.

At this point its investing for 2021. Why bust my arse and keep people to still break even or possibly take a bigger loss for 2020, when I can instead go into basically hibernation mode and reenter 2021?

With no dates for the future, I'm worried if I continue to invest in 2020 I'll come out worse for 2021 with more debt and a harder time rebounding.
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