The Paychex Business Series Podcast with Gene Marks - Coronavirus

As we emerge from the COVID-19 shutdowns, many business owners are beginning to look into the opportunity to sell their company. Gene Marks talks with president of BizBuySell.com, Bob House, about the opportunity for potential buyers, the impact the pandemic has had on the market, which industries are smart investments, Small Business Administration financing options, and more.

In addition to the financial challenges created by the COVID-19 pandemic, many industries are facing a new set of complexities having to do with the health and safety of returning to their jobs. Owner of Justin McCallum Photography, Justin McCallum, talks with Gene Marks about his experience with applying for Pandemic Unemployment Assistance and other federal funding programs, his concerns regarding how to approach future jobs where social distancing may not always be an option, and his takeaways about the importance of having a strong saving strategy.

As a business leader, your attitude can set the tone for the rest of the company. Founder and CEO of the full-service marketing company PostcardMania, Joy Gendusa knows exactly how important it is to stay positive, especially during times like these. In this episode, Gene Marks talks with Joy about her experience as a business owner during the current COVID-19 pandemic, how she was able to keep all her employees working, the importance of building a cash reserve, and how creative thinking and optimism helped her survive this economic downturn.

With the increasing complexities of owning a business brought on by the COVID-19 pandemic, many small business owners may be considering selling their businesses. Bob House, president of BizBuySell.com and BizQuest.com talks with Gene Marks about why right now may be just the time to sell, including a unique loan opportunity from the Small Business Administration to encourage buyers and the increased demand in essential businesses that is catching the eye of prospective buyers. Listen as Bob also shares advice on how to get yourself and your business ready to maximize your return and make a smooth transfer of ownership.

As businesses come out of the COVID-19 shutdowns there is a lot to think about and plan for as they begin to bring employees back. In this episode, Gene Marks talks with Paychex Compliance Analysts, Kate Hill and Rachel Dowling about many of the questions business owners have about how to handle health concerns, confidentiality and employee rights, telework continuation, and the importance of communicating clear business policies. Hear as Kate and Rachel share some of the best practices  that employers should consider in order to protect their business and help keep their employees safe.

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The coronavirus pandemic has become a defining moment for accounting firms as their clients turn to them to help navigate everything from business relief opportunities to making plans for the future. During this time, the importance of technology has never been more evident. While firms that had already invested in technology accelerated forward, those that were further behind began to catch up in a new cloud-based model. In this episode, CPA.com President and Chief Executive Officer, Erik Asgeirsson talks with Gee Marks about the critical role accounting firms have played during COVID-19, how their ability to work remotely has become more important than ever, and the lessons they have learned for both themselves and their clients.

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Like many small business owners, franchisees were hit hard during the coronavirus pandemic. As the nation begins to reopen, the true effects of the shutdown are emerging. Listen as Gene Marks talks with President and CEO of the International Franchise Association (IFA), Robert Cresanti, and Senior Vice President, Government Relations and Public Affairs of the IFA, Matt Haller, about what they have seen during the past few months – how franchise owners were forced to get creative, if they took advantage of loan programs, and where the most damage was seen – and where they see the future going, including using communication to manage change, the economic rebound, and opportunities for both existing and prospective franchise owners.

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While many companies may be focusing on traditional advertising to keep their business top-of-mind, comedian, actor, and independent business owner, Jim Gaffigan, is turning to social media – specifically YouTube. In this two-episode podcast, Gene Marks talks with Jim about how the shutdown has impacted his live appearance, comedy shows, and his business in general, and how it has also pushed him to discover and use social media platforms that he had not taken full advantage of. Hear how YouTube and the use of video is helping him in all aspects – from building awareness and reaching likeminded people, to creating a community and establishing relationships like never before. This is Part 2 of this fun, wide-ranging interview.

While many companies may be focusing on traditional advertising to keep their business top-of-mind, comedian, actor, and independent business owner, Jim Gaffigan, is turning to social media – specifically YouTube. In this two-episode podcast, Gene Marks talks with Jim about how the shutdown has impacted his live appearance, comedy shows, and his business in general, and how it has also pushed him to discover and use social media platforms that he had not taken full advantage of. He even tells us how Rochester’s famous Nick Tahou's Garbage Plate™ has helped his business survive. This is Part 1 of this fun, wide-ranging interview.

With the third stimulus bill on the horizon, there’s a lot of talk about what it will contain. That Inge, Senior Manager, Government Relations for Paychex, talks with Gene Marks about the proposed Heroes Act as well as what we can expect to see come from the Republican side. Listen as Thad shares what he’s hearing in Washington, D.C. about the hopes for funding for state and local governments, the possible extension of federal unemployment, direct stimulus checks, and business liability.

The path to reopening post-COVID-19 shutdown is a challenging one. Whether you have a Business Continuity Plan (BCP) in place or not, there is a lot that business owners need to be aware of – most importantly, the compliance ‘trifecta’: federal, state, and local laws. Hear as Paychex Compliance Analyst, Kate Hill, talks with Gene Marks about some key areas of focus, including designating a return to work team, changes to paid family leave, wage and hour issues, and more. And for more information on returning to work, be sure to visit the Paychex Return to Work: Getting Back to Business page, featuring state guidance, FAQ’s, best practices, and other valuable tools.

The Paycheck Protection Program (PPP) application process opened on April 3, 2020. Since then, a lot has changed – on June 5, 2020, President Trump signed the PPP Flexibility Act into law. Listen in as Paychex Compliance Analyst, Connor Mykins discusses the complexities of the PPP with Gene Marks, including the most recent changes coming from the PPP Flexibility Act – the extension of the forgiveness period, the new percentage requirements for eligible expenses, guidance on restoring headcount, and much more.

On June 5, 2020, President Trump signed into law, the Paycheck Protection Program (PPP) Flexibility Act. This act provides small business owners with greater freedom for how and when funds must be spent. Listen in as Gene Marks talks with CPA.com CEO, Erik Asgeirsson about these changes and what they mean for small businesses, as well as how the PPP has positively impacted businesses, how the program should be looked at as more of a grant than a loan, and when business owners should begin thinking about the forgiveness application. And for more information on the PPP Flexibility Act, click here.

Businesses across the United States are beginning to reopen their doors, but as they do, concerns about maintaining customers and keeping employees safe weigh on owners. Alice Bredin, founder of the market research company Bredin, says that this is something all businesses should have top of mind, and that the key overcoming this challenge is to get into the mindset of customers. Listen in as Alice talks with Gene Marks about the findings of the most recent Paychex COVID-19 snap poll which give insight to business owner worries as they work on the path of reopening, how they plan to overcome these challenges, and what they are doing now to prepare their business for the possible second wave of COVID-19. Click here to find out more about the findings from the latest COVID-19 snap poll.

As part of the reopening process, President Trump brought together executives, economists, and industry leaders to make up several Great American Economic Revival Industry Groups.These groups were tasked with coming up with a blueprint to guide business leaders as they head down the road of reopening. President and CEO of the International Franchise Association (IFA), Robert Cresanti, talks with Gene Marks about his experience serving on one of these councils and some key takeaways businesses should consider when opening, including health and safety of employees and customers; CDC, OSHA, and state and local regulations; and how the document will evolve as the country continues to move forward.

As businesses across the U.S. look to reopening, the Occupational Safety and Health Administration (OSHA) and the Centers of Disease Control and Prevention (CDC), have put together guidelines that business owners should look to as they create new policies and procedures. In addition to OSHA and CDC recommendations, it’s important for business owners to look to the state and local regulations as well. Listen in as Rachel Dowling, Paychex Compliance Analyst talks with Gene Marks about best practices in social distancing, temperature and health checks, face coverings, and cleaning procedures, and how these guidelines may vary by state and industry.

As small businesses start on the road to recovery post COVID-19 shutdown, one thing that stands out is their optimism about getting back to work and what the future has in store. But can small business owners be TOO optimistic? Alice Bredin, owner of the market research company, Bredin, argues that their optimism is what has made these business owners successful from the beginning, and it’s what will help them plow ahead. Listen in as Alice talks with Gene Marks about the findings from the most recent Paychex COVID-19 snap poll – what businesses are thinking about the future, industry and location trends, and how their optimism will impact how they do business moving forward. Click here to learn more about the findings from the latest COVID-19 snap poll.

As states begin to reopen post COVID-19 shutdown, government guidelines will be provided to businesses to ensure they are doing so safely. But beyond those requirement, many of the changes business owners are planning come from what the coronavirus pandemic has taught them over the past few weeks. Listen in as Gene Marks talks with Julie Wineinger about what she is considering for employee and customer safety, as well as what she has learned about the importance of efficiency and how that will impact her business moving forward.

Weeks after complete shutdown, the health and wellness industry is beginning to plan out it’s reopening. But in such a hands on service, how will the coronavirus pandemic and the fears surrounding it impact these businesses? Entrepreneurial leader and founder of Retro Fitness, Eric Casaburi, shares with Gene Marks what he’s telling his franchisees and other business owners in the industry about the new normal, the importance of listening to the consumer, and how the pandemic may be an opportunity for the industry to promote the importance of staying healthy.

Starting a business is no easy task. It’s more than just having a good idea or product. In fact, Angie Hicks, Co-Founder of Angie’s List, says that it’s really not about the idea, it’s about how you take on the challenges you face. Listen in as she talks with Gene Marks about her experience as an entrepreneur starting right out of college and how she helped grow the business from just two people in 1995, to over 3,500 today. Find out what she’s learned about being taken seriously, work-life balance, what investors are looking for, and never giving up.

Most all businesses have been concentrating on maintaining customer relationships, managing business as usual, making sure expenses are paid, and focusing on sales and marketing. But one thing that has stuck out during the research conducted by Bredin, is the resilience and optimism that is emerging among small business owners despite the current conditions brought on by the coronavirus pandemic. Listen in as Gene Marks talks with Bredin owner, Alice Bredin about the spirit of small business owners, their outlook for the future, and the permanent changes they are making moving forward.

As a restaurant owner in New York City, Danny Abrams had opened his newest restaurant just one week before the shutdown. Hear how the pandemic has effected the industry from capacity restrictions, navigating the Paycheck Protection Program (PPP) loan and the Emergency Injury Disaster Loan, what he’s doing now, and how he thinks it will affect the restaurant business in the future.

Federal funding opportunities such as the Economic Injury Disaster Loan and the Paycheck Protection Program loan, were designed to help small businesses like Lulabelle’s Sweet Shop in Washington D.C.. Hear from Julie about the highs and lows of applying to federal funding opportunities, as well as other grant opportunities. Listen in as she talks with Gene Marks about taking advantage of anything and everything that comes her way in order to keep her business afloat during the current coronavirus pandemic.

According to Bredin, a market research company that tracks the small- and mid-sized business market for its’ corporate clients, just one in three small businesses (SMBs) with between two and 500 employees have applied for a Paycheck Protection Program (PPP) loan. In this first episode with Bredin Founder, Alice Bredin, listen in as she talks with Gene Marks and sheds light on why small businesses aren’t applying to the PPP, where they are getting funds instead, and what they are doing to help stay afloat. Be sure to take a look at the other great findings from our Paychex COVID-19 snap polls.

With a focus on restaurants, bars, and retail business, Champion Technology LLC was significantly impacted with the closures due to the coronavirus pandemic. To help stay afloat during these trying times, owner Bob Stone was forced to lean on his “rainy day” savings and also turned to the Paycheck Protection Program (PPP) loan. Listen in as Bob talks with Gene Marks about how he used the resources around him and found success with the Paycheck Protection Program.

As small business owners were forced to close due to the COVID-19 pandemic, many turned to available loans through the Small Business Association (SBA). Listen in as Gene Marks talks with Matt Turse, founder of Team Turse, about his experience working through the Paycheck Protection Program (PPP) loan and what he’s learned along the way.

As essential businesses, such as those in the home service industry, navigate through these unprecedented times, new expectations in safety have companies rethinking how they do business. From new procedures in cleaning and sanitation, to the adoption of technology for client communication and digital payments, business owners are having to change not just what they do, but how they do it, as well as how they interact with customers. Angie Hicks, Co-Founder of Angie’s List, talks with Gene Marks about how to think long term, post-COVID-19, so your business doesn’t just survive, but it thrives and becomes stronger than ever.

Designated as an essential business, Lulabelle’s Sweet Shop was able to reopen just days after closing due to the COVID-19 pandemic. With the initial intent of just getting rid of the ice cream left in her store to ensure it did not go to waste, Julie Wineinger opened up for one day only, selling pints of ice cream as a fundraiser to raise money for the employees she was forced to lay off during these uncertain times. The response was overwhelming. That’s when Julie saw an opportunity to rethink her business. Listen in as she talks with Gene Marks about how she’s using her shop to help support her employees and her community.

Every day we hear about the growing financial impact that the COVID-19 pandemic is having on individuals, companies, and our country. But as businesses are forced to close and people told to stay home, equally as challenging is the psychological effects that the isolation, loss of jobs and income, and uncertainty for the future have on us all. Listen in as Gene Marks talks with Timothy Lyon, CEO and Co-Founder of Klean Katch, talks about how he found new purpose when facing dark days by bringing a little bit of joy to his family and friends.

Because of the current COVID-19 pandemics, there has been an expansion by the federal government to allow employees to take time off for sick time, to care for themselves and to care for family members. To help employers pay for this addition time, the federal government is offering them a tax credit to get reimbursed for paying for their employees’ time off. Paychex Compliance Analyst, Andy Gargana talks with Gene Marks about these tax credits, including pay requirements, credit maximums, the handling of healthcare costs and Medicare tax, and more.

Throughout this ongoing coronavirus pandemic, many businesses have been forced to close. For essential businesses, which remain open to provide their necessary products and services, it’s in no way business as usual. As these businesses adjust to meet new regulations, they must reevaluate the way the work, including setting up employees to work remotely and implementing new safety procedures. Listen in as Gene Marks talks with Seaman Corporation Chairman of the Board, Richard Seaman, about the new way of working amid this unprecedented time.

The Employee Retention Tax Credit, part of the Coronavirus Aid, Response, and Economic Security (CARES) Act, is a refundable tax credit for businesses that are still paying their employees during the current pandemic. Under this tax credit, employers are eligible for up to 50% of up to $10,000 in wages paid for each employee. In the first of this two-part episode, Gene Marks talks with Paychex Compliance Analyst, Andy Gargana about what you need to know, including what the Employee Retention Tax Credit is, business eligibility, revenue qualifications, and more.

The coronavirus pandemic has created a number of unexpected challenges for small business owners all over the United States. Whether they closed by choice, or by mandate, businesses have had to make some very difficult decisions regarding their company, their employees, and their future. In Part 1 of this four-part series, Julie Wineinger, Owner of Lulabelle’s Sweet Shop in Washington, D.C. talks with Gene Marks about her decision to close the doors of her sweet shop. Listen in to find out how Julie handled employee work status, what she’s done to help advocate for her employees, and how she’s handling her everyday expenses during this unprecedented time.

The Economic Injury Disaster Loan (EIDL), a Small Business Administration loan, is designed to provide small businesses who are suffering substantial economic injury as a result of the current coronavirus pandemic with financial assistance of up to $10,000. Gene Marks talks with Matt Turse, Founder of Team Turse, about how Matt navigated the application process and about his experience receiving his EIDL funds.

Part of the Coronavirus Aid, Response, and Economic Security (CARES) Act, the Paycheck Protection Program was designed to get cash out quickly to small and mid-sized businesses struggling during the current COVID-19 pandemic and incent them to maintain or rehire employees and keep their wages high during this unprecedented time. Hear as Gene Marks talks with Mike Trabold, Director of Compliance at Paychex, about business eligibility, loan forgiveness, and more during this episode of the Paychex Business Series podcast. 

Gene Marks talks with Bill Goselin, Compliance Analyst at Paychex, about the deferment of employer social security tax as part of the the Coronavirus, Aid, Relief, and Economic Security (CARES) Act. Hear what this provision means for employers, the restrictions, and the limitations.

Our host Gene Marks talks with Tammy Tyler, Manager of Employment Law Compliance at Paychex about the paid leave portion of the Families First Coronavirus Response Act (FFCRA), including how it affects you, your business, and your employees.

Gene Marks starts our Paychex Business Series podcast with everything you need to know about the Economic Injury Disaster Laon Program. Find out what’s being offered by the Small Business Administration in response to the coronavirus pandemic, including what the program is, who’s eligible, and what’s available.