A recent Wall Street Journal article raises the questions, where do you want to live, and why? As work life shifts to remote models, the need to live near hot job markets is challenged. People are reassessing living situations and moving to places that make them happy, both for improved quality of life and ability to save money. “At one point in April people were relocating at twice the normal pace, according to data from Cuebiq,”...
The New Mexico Economic Development Department released this statement today concerning new guidelines and deadlines for Paycheck Protection Program loans: Economic Development Cabinet Secretary Alicia J. Keyes announced that new forgiveness and flexibility rules for the federal government’s Paycheck Protection Program (PPP) will benefit more New Mexico businesses and she is urging those who have not yet applied to take another look at the program. With the PPP deadline for loan funding on June 30, there are...
"Significant uncertainty surrounds what the 'new normal' could look like for firms beyond the COVID-19 crisis. But scenario thinking can help organizations better anticipate and adapt to dramatic changes, increase agility and resilience, and turn uncertainty into advantage," according to this Knowledge@Whatron article. Scenario planning is a powerful tool for developing strategy, especially given the complex web of unknowns in which we find ourselves. It leverages the cognitive, creative power of narrative to imagine and respond...
Sellers generally desire all-cash transactions; however, oftentimes partial seller financing is necessary in typical middle market company transactions. Furthermore, sellers who demand all-cash deals typically receive a lower purchase price than they would have if the deal were structured differently. Although buyers may be able to pay all-cash at closing, they often want to structure a deal where the seller has left some portion of the price on the table, either in the form of a...
COVID-19 and related restrictions have made it necessary for many business owners and commercial landlords to evaluate options and create some measure of flexibility. "These discussions require both sides to assess a variety circumstances and issues, many of which are in a state of flux due to the uncertainty of COVID-19," cautions real estate and finance attorney Steve Ostrow. He outlines some short-term options: Rent Relief: Deferral versus abatement of base rent only or all rent...
Before leaping into a new business opportunity, most entrepreneurs face the challenge of securing working capital. Although it’s not an easy task, it is essential to getting your idea off the ground. It’s also not a decision to take lightly, as the choice you make will stick with you for years to come, even after your business starts making a profit. You can set yourself up for a win by researching the different avenues available and...
Businesses reopening amidst uncertainty regarding regulations and safety are facing some challenging operating decisions. The U.S. Chamber of Commerce shares these eight strategies to reopen safely. Beefing up delivery, takeout and curbside Restaurants and retail stores have been hit hard by COVID-19, so those operations are making big changes to try to survive this challenging environment. In the restaurant world, many joints reopening are keeping dining rooms closed (even if they are allowed to open), and instead they’ve...
Sign of the Pampered Maiden is an iconic, enduring brand and luxury fashion destination in the heart of downtown Santa Fe, and it could be yours. A dramatically reduced price and supportive SBA programs make this a perfect opportunity to become part of the Santa Fe retail and fashion identity. Now listed at only $180,000, Pampered Maiden’s 2019 gross revenue was $615,266, with a cash flow of $74,417. Find more information about this exceptional opportunity here. Pampered...
The United States Chamber of Commerce has shared the following updates on PPP loan forgiveness amidst some confusion on the subject. For employers whose employees have chosen not to return to work, the Treasury Department has clarified its position on loan forgiveness. Specifically, if you’re an employer and want to bring an employee back who had previously been laid off, you will not be penalized if the employee chooses not to return. If you issue a...
Gov. Michelle Lujan Grisham announced last week that some businesses can begin to reopen (in modified form) and that others might be able to on May 15. To help businesses prepare, the Santa Fe Chamber of Commerce shared this useful checklist: Determine the square footage of your business and know how many customers can be inside the space at one time. Under possible new guidelines, businesses could be limited to 20% of your maximum capacity. ...
Lenders in New Mexico are still able to help businesses with loan applications for the U.S. Small Business Administration’s Paycheck Protection Program (PPP), Economic Development Department Cabinet Secretary Alicia J. Keyes said in a recent virtual roundtable discussion. As reported, Congress appropriated another $310 billion for crisis relief funding last week. As part of that bill, about 20 percent of the money ($60 billion) was reserved for small banks and community lenders. Applications reopened on April...
A Harvard Business Review article titled To See the Future of Competition, Look at Netflix resonates strongly just now. “As more and more of us turn to Netflix for entertainment, the company bears watching as a source of insights about the future of business and work,” writes author Bill Taylor. That seems to apply in the time of quarantine even more than when he wrote it. As the inventor of “binge watching,” Netflix has likely...
There can be no way around it, Inc. contributor Brian Hamilton’s April 2020 COVID-19 centered article, “6 Actions to Take in the Next 90 Days to Save Your Business,” isn’t pulling any punches. Hamilton, Founder of the Brian Hamilton Foundation, believes that the next 90-days could be make or break days for business owners looking to navigate the choppy waters of the COVID-19 pandemic. His latest Inc. article provides readers with 6 actions they should...
There can be no way around it, Inc. contributor Brian Hamilton’s April 2020 COVID-19 centered article, “6 Actions to Take in the Next 90 Days to Save Your Business,” isn’t pulling any punches. Hamilton, Founder of the Brian Hamilton Foundation, believes that the next 90-days could be make or break days for business owners looking to navigate the choppy waters of the COVID-19 pandemic. His latest Inc. article provides readers with 6 actions they should...
President Trump signed the legislation today to replenish business relief programs and support hospitals and COVID-19 testing. The package totals $484 billion and includes: An additional $310 billion in funding for the Paycheck Protection Program (PPP), with $60 billion reserved for small banks and lending institutions $75 billion for hospitals $25 billion to support testing efforts $60 billion for emergency disaster loans and grants (EIDLs) In a recent virtual town hall hosted by Inc., U.S. Chamber of...
