Certainly nothing is more important currently than understanding how to navigate through the pandemic as safely and effectively as possible. With this in mind, we reached out to our corporate and executive members to ask about information they are publishing and highlighting for their clients.
This issue is a compilation of various articles, videos, content links, online knowledge centers and even a special webinar expressly for our community. The diversity of content is a reflection of our cross-sector community. We wish to thank our members who were able to respond for sharing these resources with our readers.
AVISON YOUNG COMMERCIAL REAL ESTATE
www.avisonyoung.us
Resource: Commentary and Resource Links
What happens if I am unable to pay my rent? How do I deal with tenants who miss their rent payment? We have mortgage payments due. What are our options? What have others been able to negotiate? These are the questions we are being asked daily as many organizations try to navigate the impacts of Covid-19.
Commercial real estate directly or indirectly affects all of our lives. It is the place where we go to work, where we buy goods and services, where we obtain medical care, and the list goes on and on. It is based upon people coming physically together which is the exact opposite of what we all need to do today. This separation has had a traumatic effect on almost all owners and occupiers of commercial real estate.
As a result, commercial tenants throughout the country are going out of business, temporarily closing, limiting operations, laying-off employees and suffering declining revenues. Even “essential” companies that are largely exempt from governmental restrictions are experiencing declines in business.
So far, politicians have instituted some moratoriums on evictions related to the COVID-19 pandemic, but at some time in the future, the money will be due following weeks or months with reduced or no revenue.
There is help available in the form of loans, grants and other benefits available to both large and small businesses for working capital, rent and mortgage payments, payroll and other qualified purposes under recently approved federal, state and local laws, including The Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
At Avison Young, we have been advising all parties to exercise patience and restraint as we work with commercial landlords, lenders and tenants evaluate their options and come up with real solutions. In the long term, the changed behaviors will have likely changed the way consumers and businesses use and interact with real estate. It is time to plan for your future needs and adapt.
While the landscape is changing daily, it is important to distill and understand both the impacts and resources available to your business as you navigate this uncertain market. We are available help and strongly encourage you to reach out to Avison Young or your trusted advisor.
Arlyn Stoik
Principal
arlyn.stoik@avisonyoung.com
Chris Cooper
Principal & Managing Director Southern California
chris.cooper@avisonyoung.com
Avison Young
Avison Young RESOURCE CENTRE - Covid-19
US Small Business Administration
COVID-19 SBA Guidance & Loan Resources
https://www.sba.gov/funding-programs/loans/covid-19-relief-options
COVID-19 Economic Injury Disaster Loan Application
https://covid19relief.sba.gov/#/
US Department of the Treasury
CARES Act Information
https://home.treasury.gov/policy-issues/top-priorities/cares-act
Paycheck Protection Program Information
https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses
US Department of Labor Occupational Safety and Health Administration
Guidelines for Preparing the Workplace for COVID-19
https://www.osha.gov/Publications/OSHA3990.pdf
BUSINESS STRATEGIES GROUP OF SOUTHERN CALIFORNIA
http://www.bsg-advisors.com
Resource: Resource guides
The Business Strategies Group of Southern California has prepared reference documents on the Coronavirus Aid, Relief and Economic Security (CARES) Act to help businesses understand what kinds of assistance are available. These include a summary of key provisions within the CARES Act and a FAQ for small business owners. These documents are available free of charge upon request.
We believe it is important you are aware of the potential sources of economic relief as you make critical decisions that may impact your retirement future, as well as your employees.
While dipping into retirement accounts may seem to be the path of least resistance to “make ends meet,” there are other resources available that can ease the financial burdens of today so current retirement savings you and your employees have worked so diligently to accumulate can be preserved for their intended purpose — a dignified retirement. We certainly don’t have all the answers, but we are here to provide you with timely and relevant information.
Please contact The Business Strategies Group of Southern California.
M. Michael Rooney, CFP®, ChFC, CLU
Founder and Managing Partner (Orange County)
michael.rooney@axa-advisors.com
Jamie Smith, JD
Managing Partner (San Diego)
jamie.smith@axa-advisors.com
CARDINAL POINT WEALTH MANAGEMENT
www.cardinalpointwealth.com
Resource: Articles
Rallying Market Makes a Mockery of Every Effort to Forecast It
https://www.bloomberg.com/news/articles/2020-04-07/wall-street-s-more-divided-than-ever-as-forecasts-run-the-gamut
DFA - Perspective on Recent Market Volatility
https://www.mydimensional.com/video/26997/perspective-on-recent-market-volatility
What happens to the stock market after a recession?
https://www.forbes.com/sites/kristinmckenna/2020/04/03/what-happens-to-the-stock-market-after-a-recession/#2345d99f2afb
How many recessions you’ve actually lived through and what happened in every one
https://www.cnbc.com/2020/04/09/what-happened-in-every-us-recession-since-the-great-depression.html
Contains a lot of helpful info including financial and economic relief
https://www.canada.ca/en/public-health/services/diseases/coronavirus-disease-covid-19.html
Contains a lot of helpful info including financial and economic relief
https://www.usa.gov/coronavirus
EDWARDS GLOBAL SERVICES
www.edwardsglobal.com
Resource: Newsletter
In these times, while we are all rightfully focused on our family, employees, franchisees and licensees, for those of us who normally work internationally it is also important to keep up to date on the world today.
EGS is monitoring 22 countries, 25 daily international information sources and six business sectors to keep up with what is going on in this ever-changing environment. Our Team on the ground covers 43 countries and provides us with updates about what is happening in their countries.
This newsletter will be published every other Monday. Our goal is to briefly keep the reader up to date on the economic and business situation in key trading countries. Please do not hesitate to send us your input and perspectives so that we can publish a balanced view about the world every other Monday.
While we have never have we seen a disruption like the one caused by the Coronavirus, I am encouraged to hear from companies that are already planning for reopening their businesses worldwide.
For those interested in subscribing to the new Edwards Global Services newsletter on global trends, please email William (Bill) Edwards, CEO at bedwards@edwardsglobal.com.
FINEMAN WEST & COMPANY
www.fwllp.com
Resource: Articles
Dear Clients and Friends,
We all know and recognize that our Country is currently in crisis-mode, and the impact of this crisis is devastating, especially on small businesses. In their effort to mitigate the collapse of our economy, the US Congress passed the CARES Act and the President signed it into law on March 27, 2020. Summarized below are helpful articles for individual taxpayers and small business owners:
News & Tips for Individual Taxpayers
Below is a helpful summary of some of the key elements of the tax changes for individuals due to COVID-19. https://fwllp.com/updates-for-individual-taxpayers/
Increase Cash Flow Now Despite COVID-19
At Fineman West, we understand that “cash is king” because even if you had a record-breaking year in net profits with a healthy balance sheet at year end, it all means nothing if you do not have the cashflow today to pay your suppliers, compensate your employees, and maintain credibility with your lenders. Learn more of The Cares Act and how can you increase your cash flow at https://fwllp.com/increase-cash-flow-now-despite-covid-19/
Important Update on the Paycheck Protection Program Loan
CARES Act has many items, but there are some very specific programs designed to stop small businesses from failing, read more at https://fwllp.com/important-update-on-the-paycheck-protection-program-loan/
Sincerely,
The Fineman West & Company Team
PROVINCE OF ONTARIO
www.ontario.ca/page/how-your-organization-can-help-fight-coronavirus
Resource: Online Resource Center
Businesses interested in contributing solutions to the Ontario government response to COVID-19 can submit a proposal on the Ontario Together website. The website identifies the province’s supply challenges, and also solicits ideas and advice from the business community for innovative ideas/solutions on how the government and business can work together. Companies can submit a proposal for the government to procure required goods and services, and share creative solutions quickly. The link to the Ontario Together portal is here.
QA CONSULTANTS
www.qaconsultants.com
Resource: e-Guide
QA Consultant’s Free e-Guide:
https://info.qaconsultants.com/en/qac_free_security_guide_wfh
Expanding Corporate Security to Work from Home
Now that everyone is working from home, you have to ask yourself, is your home network safe? Are your devices safe to access your work platforms?
QA Consultant’s security expert, Steve McGeown, narrates this excellent e-Guide to securing your work-from-home technology environment.
We've all been doing this "Work at Home" thing for several weeks now. Some may have thrived on it; many others are just trying to survive on a sudden shift to a new way of working. It is a new reality that came upon many of us very fast, often with little or no notice or training.
Now that we have gotten ourselves barely up and functional, it is now time for us to look inward. The infrastructure we are on is not corporate, it is fragile and support can be fleeting. Applications such as videoconferencing and filesharing are being regularly misconfigured and this misuse can lead to serious personal and organizational exposures. Advanced spear-phishing will have plenty of ill-prepared targets if the users are not properly prepared for it.
This video is designed with the general Work at Home user in mind as the audience. By focusing on just 4 simple concepts, the user is directed into taking corrective and meaningful action on an 80/20 rule basis, that is, what minimal actions should we take, what minimal learnings should we acquire so that Work at Home continues to Work for them and their organizations. This PSA covers everything from: Zoom bombing, Zoom security, COVID-19 security, home network security, attack surface, and more security guidance.
RSM US LLP
www.rsm.us
Resource: Online Resource Center
COVID-19 is impacting all of us. As individuals, communities, governments and businesses act quickly to reduce the spread of the disease, we find ourselves operating in a new world.
Our COVID-19 resource center was established to provide insights and information on business continuity planning, tax and regulatory guidance, industry impact and the overall economy. We also launched a weekly webcast series last week to help address important business topics. You can register for upcoming webcasts here and also listen to recordings of past sessions.
In addition to these resources, RSM offers a wide array of timely content, insights and resources designed to guide and inform middle market business leaders. You can customize the RSM content that comes to your inbox so you can stay up to date on the topics that matter most to you and your business.
Here are some links where you can access information and set your preferences:
RSM preference center
Tell us what topics and industries matter to you, and we’ll recommend valuable insights that align with your interests and business goals.
Manage your subscriptions
Gain timely insights on your industry and business issues. Check the box to subscribe to the publications that interest you.
Middle market economic insights
· The Real Economy – A monthly publication for middle market business leaders
· The Real Economy blog – Real-time updates and insights from our industry experts and economists
· RSM US Middle Market Business Index (MMBI) - To increase our ability to track the impact of COVID-19 on the real economy, we will be increasing the frequency of the MMBI from quarterly to monthly for the next several months
SNELL & WILMER LLP
www.swlaw.com
Resource: Articles
New Federal Reserve Main Street Loans for Businesses: https://www.swlaw.com/publications/legal-alerts/2746
Global Tax Implications of COVID-19 on Stranded Cross-Border Workers and Multinational Companies https://www.swlaw.com/publications/legal-alerts/2745
TROWBRIDGE PROFESSIONAL CORPORATION
www.trowbridge.ca
Resource: Articles
Trowbridge Professional Corporation is a Canadian accounting firm that specializes in international tax services. We provide a wide range of corporate and expatriate tax services to Canadian and foreign-based individuals and corporations in a variety of industries. All of our professionals have in-depth tax experience and stay informed on current developments in tax legislation and the potential impact on our clients. Our corporate accounting, bookkeeping and payroll services team has many years of industry experience, helping global companies expand into new markets in Canada and helping companies in Canada grow with financial confidence.
https://www.trowbridge.ca/articles
UNSTOPPABLE CONVERSATIONS
www.unstoppableconversations.com
Resource: Webinar
This Is Not Your Every-Day Average Free Webinar For Business Leaders.
LEADING IN UNCERTAINTY: A BREAKTHROUGH MODEL
There are a lot of free webinars out there right now to support you in dealing with the current challenges of your organization, all with specific solutions and advice. This is not that. This webinar gives you a distinct way of approaching the unknown so that even in the face of the uncertainty you will be able to take effective action.
In this 2-hour breakthrough-thinking workshop, you will:
· Discover a unique way of seeing your current business challenges and leave with new and effective options for navigating them.
This webinar is by invitation only and requires registering in advance.
Wednesday, April 22, 2020
11:00AM - 1:00PM Pacific Time (US and Canada)
https://zoom.us/meeting/register/tZQqf-GuqD8tta2ZzfB-MkF31zBwiqP79Q
After registering, you will receive a confirmation email containing information about joining the meeting.
WILMINGTON TRUST
www.wilmingtontrust.com
Resource: Online Library
Dear MAPLE members and friends,
Wilmington Trust Company was established in 1903 by members of the duPont family to provide quality banking and trust services in a new age of prosperity. Today, we offer more than a century of experience assisting some of the world’s most successful families to achieve their strategic objectives, address their issues and create a legacy.
In light of the current pandemic, we are focused on offering clients, prospects and other advisors the latest thought leadership and guidance around the impact of the Coronavirus. It is imperative that we support those who are looking for us for ideas and updates in what is a rapidly moving landscape. Our online library is the ideal place to access all this pertinent and important information.
https://library.wilmingtontrust.com/wealth-planning
Please feel free to reach out to me with comments or questions and I wish each of you continued health and steadfast resolve in the coming days.
Roberta E. Ruddy, TEP
Senior Wealth Advisor
rruddy@wilmingtontrust.com