While we can’t control what’s happening around the world, here is a checklist of ways you can take control of your finances, cut expenses, and conserve cash if your business is closed due to COVID-19:
Negotiate rates
- Renegotiate your lease or ask your landlord for rent abatement (for example, ask for no rent for 3 months or a reduced rate, or 3 months free rent and the payment will be paid in 6 months over a 6 month period, etc.). These are extraordinary times and it’s no time to be shy about it. Our CEO, Rick Stollmeyer, offers advice on how to have this conversation.
- Review your phone plans—both landline and cellular. You may be able to request a rate review or remove unnecessary extras.
- Check your internet package. You can often negotiate lower rates with your provider or find a more affordable plan.
