Harvard Business School recently published research on the impact COVID-19 has had on small businesses in the USA.  It is clear the events will continue to have a major lasting impact on public health, the economy and livelihoods of many.  The research of 5,800 businesses shows that by the first several months of the pandemic:

1.  43% of businesses had temporarily closed.

2. 40% of businesses had reduced employee count.

3. The median businesses faced liquidity crunch, with less than one month of cash on hand to cover $10,000 monthly expenses.

4. A majority of the businesses planned to seek support available through the CARES act.

Norton Henry is engaged with several businesses represented by this survey to assist in navigating these uncertain times.  We are helping by formulating action plans to address #3 and successfully take advantage of available resources such as the CARES act.  We are also helping by identifying actionable growth and innovation opportunities, such as maximizing use of digital marketing, capturing market share through new products, and re-structuring costs to be more profitable.

Contact us if you would like to explore how we can be a trusted partner to you during these difficult times.