35 Questions for the Business Owner
Additional resources for our business clients via the AICPA and FM
- Don’t panic but do plan.
- Show concern for your employees: Give them an opportunity to share their concerns and ask questions.
- Consider having an education session regarding your plans and proper hygiene.
- Show concern for your customers. For any customer or client meetings, offer the opportunity to meet virtually.
- Communicate and educate frequently.
- Brainstorm with every department: How might you be affected?
- Brainstorm possible options to mitigate the impact.
- Document what you will do, when you will do it, and who will be responsible.
Questions about your employees
- How can you best protect your employees?
- Will you train your employees on how to identify coronavirus symptoms?
- If an employee does not have available sick time, how do you make sure they do not come to work if they are sick?
- How will you respond if an employee is diagnosed with coronavirus?
- Who can work from home?
- How will your employees get access to the necessary information and documents they need to work from home?
- Will you allow employees to travel?
- If employees must travel, what steps will you take to ensure their medical safety?
- How will you respond if an employee needs to care for an infected family member?
- If an employee contracts coronavirus, will they only be allowed to use their accrued sick time?
Questions about your operations
- What parts of your business are crucial to keep operating?
- When should you exclude visitors from your offices?
- How will you decide if you need to close an office?
- Will you close your business for the recommended two-week quarantine or longer?
- How will you disinfect your office?
- How will you keep employees, customers, and vendors informed?
- Should you postpone meetings, events, or travel?
- How will you communicate with employees, customers, and vendors if you have to close your offices?
- Is your IT system robust enough to handle the demand if more employees are working from home?
Questions about your finances
- If your offices are closed, how will you collect payments?
- How long can your business survive without any new sales?
- How will you pay your bills and payroll if your office is closed?
- Do you have available lines of credit?
- Will you pay your employees, and for how long, if you close your office and employees are not working? Do you know what the legal requirements are for such payment?
Questions about your customers
- Will you notify customers if an employee is diagnosed?
- How will you stay connected to customers if employees are out sick or the office is closed?
- How will you deliver on contracts if the office is closed or there is a disruption in your supply chain?
- Do you have a “force majeure” clause in your contracts that might alleviate some liability in the case of a crisis such as this?
- How will you respond if a customer is affected by the coronavirus and does not pay your invoice on time?
- Are there ways you can assist your customers in addressing the coronavirus?
Questions about your supply chain
- Who are your mission-critical vendors?
- Which vendors should you call to discuss their coronavirus plans?
- Do you currently source any supplies or products from China?
- How would a delay in delivery of materials and products affect your production?
- Do you have alternate suppliers?
2024 Filing Deadline