Important! November 6th, 2024 Webinar Attendees, please click here to complete our Survey or Verification Request Form.

Click Here

Introducing

Essential Business Skills for Busy Lawyers

Four-Part Free CLE Webinar Series

Featuring

Each Webinar Awards 1.00 Regular Credit

86 Percent of Small Businesses Have Reopened At Last Partially

Last update

at

by:

by:

Share

But 70 percent worry about keeping their doors open.

The good news is that 86 percent of small businesses have reopened either fully or partially.

The bad news is that seven out of 10 are concerned about the long-term financial impact of COVID, and 58 percent worry that they might eventually have to close permanently.

Those are two findings from the Small Business Coronavirus Impact Poll by the U.S. Chamber and MetLife. The bottom line: while small businesses, including law firms, are moving forward, anxiety remains high.

Click here to read the full report.

Cybercriminals have ramped up their efforts and adapted their methods to capitalize on the disruption caused by COVID-19. Stay a step ahead of the bad guys by attending our FREE, one-hour CLE webinar on September 17. Attorney Kevin O’Hagan – a nationally-recognized expert on cyber liability who defends lawyers and firms in malpractice cases – will give you a roadmap for staying safe and successful in these uncertain times. Register here.

Small Business Coronavirus Impact Survey

Here are some of the highlights:

  • Fifty-six (56) percent are concerned about the lack of clear and uniform guidance on reopening procedures, up from 48 percent in May.
  • Thirty-two (32) percent have added equipment and supplies to prepare for future disruption; 29 percent have updated their websites and social media profiles; 25 percent have beefed up their ecommerce and digital pay options.
  • Sixty-one (61) percent say their local economies are healthier than the national economy.
  • Fifty-five (55) percent report comfort with their cash flow.
  • Fewer retail businesses are open (82 percent) than manufacturing (87 percent) and professional services firms (92 percent).
  • Fifty-six (56) percent believe it will take six months to a year before the business climate returns to normal, and 53 percent expect revenues to increase next year.
  • One in five (19 percent) received a PPP loan; two-thirds of them are concerned about meeting the criteria necessary to receive loan forgiveness.
  • Sixty (60) percent have maintained the same size staff as the last year, while 20 percent have added staff and 17 percent reduced staff. Thirty (30) percent expect to increase hiring next year.
  • Nearly one in three (31 percent) expect to face more competition next year. 

Download a pdf of the Small Business Coronavirus Impact Survey here.

Alta Pro Insurance Services can help keep your practice strong and viable during these uncertain times. When you have professional liability coverage with Alta Pro, you’re automatically enrolled in the Alta Pro Lawyers RPG, which gives you access to a broad range of benefits, including the Pro Practice Playbook, Ask the Risk Pro, Reminger ProLink, discounts on Clio cloud software and much more. Here’s how to join.

Share

Related Posts on Altaprorpg.com!

Alta Pro Logo Icon

About the Editorial Staff

In an age of consolidation where increasingly impersonal transactions have made customer service an oxymoron, we bring together independent agents, insurance companies, and other industry specific service providers to develop and deliver insurance products and risk management solutions that benefit our insurance customers.

November 6, 2024 1:00 pm EST
1.0 Regular Credit
December 11, 2024 1:00 pm EST
1.0 Ethics Credit

Join Our Newsletter

Occasional newsletters and CLE invites

Upcoming CLE Webinar: Essential Business Skills for Busy Lawyers Part 4 – Negotiate Like a Pro

November 6, 2024 1:00 pm EST
CLE Credit: 1.0 Regular

Colleen L. Byers

Colleen Byers Mediation, LLC

Archives

Latest Videos

1 Hour

Creating an Attorney Compensation Plan That Will Build Firm Culture and Attract Top Talent

1 Hour

Cybersecurity for Attorneys: Employing Competent and Reasonable Safeguards

1 Hour

Blazing Trails:  The Future of Cannabis in a Changing Legal Landscape

Need Help?

Visit our Frequently Asked Questions page. 

Or email us directly at info@altaprorpg.com

Or submit your issue in the comment form below and we will respond as soon as possible.