How have you and your business been the past 2-3 months? It is easy to get caught up in the speculation of what is to come. With all of the different analysts predicting this and that; one thing is for certain: America will rebound. When? How? What will bring us out of this? Well, that is one of the questions as I am asking while typing this. However, I am confident that in the next 2-3 months our economy as we know it may be in for a surge.
Overall, COVID-19 will have a lasting impact on the global economy. That is indisputable. I find a great deal of hope as I review some of the market summaries of recent days. NASDAQ is close to breaking a 6 month high when just a month ago we were looking at values roughly 40% of what they were today. The Dow Jones follows with a surge in the past month of almost 25%. S&P 500 Index is also right in the mix of things coming in at almost a 24% rebound in the past month alone. (Google Finance 4/29/20)
By no means am I a financial analyst or investment junky; however these are key signs to the implementation of YOUR very own business strategy. Are you prepared for a rebound? How have you been preparing your own financials along with your companies? These are the questions we are here to ask and work with other professionals on to ensure you are thriving when all of this is said and done.
So, my question to you is simple. How are you going to prepare for this turnaround? As business owners, it is up to us to bring our economy out of the hole this virus has created. The stimulus money and other efforts to keep everyone afloat will only work for so long. There is a call to action on the table and business leaders abroad should be ready with an answer.
If you are having trouble developing a strategy or have somehow become lost the past few months, call us. We strive to help those in our community along with any other investors/business owners that we can. We are here to be a resource for those in this time of need.
This article is a service of Scarborough Law LLC and Attorney Stephanie Scarborough. We offer a wide array of business legal services and can help you make the wisest business choices throughout life and in the event of your death. We also provide a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today.