Horizons Fall/Winter 2020

W hen the COVID-19 pandemic have on businesses, the economy and everyday lifestyles. One of the major pieces of legislation passed as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was the Paycheck Protection Program (PPP). These loans were offered to qualified small businesses and nonprofit organizations to help them navigate the economic uncertainty of the early pandemic while still paying their employees. Many organizations are now finished spending their PPP funds and looking forward to what’s next. This article looks ahead for businesses and organizations operating in a swiftly changing business landscape, addresses PPP forgiveness, and highlights some recent legislation and regulations that will impact the coming months and years. began in early 2020, no one knew the large scale effects it would With so much disruption in so many industries and aspects of business, planning for future operations can be a daunting task. Throw in the new government business incentive programs with the related uncertainties and it can seem impossible. The new, and sometimes not well understood, incentive programs, like the PPP, present opportunities and pitfalls for organizations that take part in them. Most organizations benefit by focusing on making decisions that make the most sense from an operations standpoint, even if that means not maximizing an incentive program like the PPP or the refundable payroll tax credits. By running your business or organization to maximize its effectiveness and profitability first, you will be in no worse condition than you would have been if the incentive program didn’t exist. This doesn’t mean that incentive programs should be ignored. Business Operations in an Unpredictable World

Fall/Winter 2020

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