COVID-19: The Long Road to Recovery

“Five years?” my client howled as he reflexively lunged forward in his chair. Then silence. The man slumped back in his chair processing an answer he never contemplated, let alone anticipated. No further questions. No quips. Just a person slowly coming to grips with the economic consequences of COVID-19.

The seemingly innocuous question the man had posed — “How long do you think it will take for the economy to recover?” My answer, “It could take five years.” A few simple words had revealed that he needed to change his entire approach to navigating the pandemic. No longer could he hunker down and ride out the storm. He had to act quickly and decisively.

According to studies it could take five years or longer for businesses to recover to pre-COVID economic levels. If you want to maximize your company’s recovery in this crisis, you need to be proactive and not reactive – the reality is that the longer a company waits to take action, the lower the probability of success.

Our latest whitepaper, Long Road to Recovery, provides a comprehensive guide on best practices to help guide your company through the uncertain time including aggressively addressing expenses, back to business expense planning, cash cycle management and more. You can download the whitepaper here, please note a valid email is required to access the content.

For more information, please contact Michael Hart or Michael Von Lehman and visit www.sdmeridian.com to learn more about Schneider Downs Meridian. 

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2020 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on

OMB Issues Final 2020 Compliance Supplement
Distance Education Program Compliance Requirements and COVID-19
COVID-19: The Long Road to Recovery
Could your PPP loan affect the sale of your business?
CARES Act Summary of Key Provisions Impacting 401(k) Retirement Plans
IRS Extends 2020 Rollover Period and Other Deadlines for Retirement Account RMDs

Register to receive our weekly newsletter with our most recent columns and insights.

Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us

contact us

Map of Pittsburgh Office
Pittsburgh

One PPG Place, Suite 1700
Pittsburgh, PA 15222

contactsd@schneiderdowns.com
p:412.261.3644     f:412.261.4876

Map of Columbus Office
Columbus

65 East State Street, Suite 2000
Columbus, OH 43215

contactsd@schneiderdowns.com
p:614.621.4060     f:614.621.4062

Map of Washington Office
Washington, D.C.

1660 International Drive, Suite 600
McLean, VA 22102