251: Surviving Economic Uncertainty: How Restaurants Can Rebound From COVID

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Working toward normalcy is what we all are striving for, but it may take a little bit longer than we all anticipated - especially if you own and/or manage a restaurant or one of the other small- to mid-sized businesses that were hit especially hard by COVID-19.

So, how can you survive economic uncertainty and rebound from the coronavirus crisis?

The best place to start is to be proactive, manage your funds, and create new strategies within your business now with an eye to the future - because unfortunately, there is no timeline to what you have experienced and what you will likely experience moving forward.

Today, Matt Long, director of client advisory services at Rea & Associates, and Matt Fish, restaurant entrepreneur and owner of Melt Bar & Grilled, headquartered in Cleveland, Ohio, are here to share their experiences during the COVID-19 pandemic and how they worked to manage the fallout of the economy in 2020. They are sharing their experience today in the hopes that others can follow their example tomorrow.

Listen to this episode of unsuitable to learn:

• How some restaurants are surviving current economic conditions.
• The importance of being proactive with your banker.
• How to better manage your payroll.

Learn more about this topic:

• Rea’s COVID-19 Resource Center
• Read: "Coronavirus: Valuing Your Business During Uncertain Times"
• Listen: Business Cash Flow & Cost Optimization In The Era Of COVID-19

If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast.