Being in business has never been without financial risks. Yet COVID-19 has delivered an unexpected, particularly harsh cash sting to companies. According to Main Street America research, the pandemic could wind up being the direct reason that nearly 7.5 million small organizations close by the end of 2020. And that makes thoughtful corporate money management more critical than ever.
Companies are getting creative to push forward despite dwindling revenue streams. As reported in a feel-good article from GMA, one Alabama food truck switched up its core business model to reach new audiences, while a Michigan vintage store owner turned to selling via Facebook Live.
