Thriving During a (Potential) Coronavirus-Related Recession

A recession may be looming, but there is no need to panic. Business can and have survived tough economic times. The most recent articles are listed at the top.

• Did your company take out a PPP loan at the beginning of the pandemic? Now, the government is issuing a streamlined PPP loan forgiveness form. 
• A popular source of financial relief for the construction industry has been Paycheck Protection Program (PPP) loans, passed by Congress in order to reduce the negative economic effects imposed by the novel coronavirus.
  
• As contractors deal with project delays due to the Coronavirus outbreak, many are concerned about how long they can remain in business if the delays continue. 
• The Coronavirus age may be the best time to boost your technology spend. Craig Lowery, Research VP at Gartner said, "I don't see this as a distraction to the cloud migration plans, I see this as an accelerant."
• One thing that can help your business recover? Consider your cash flow situation. ProBuilder put together some good advice for business owners.
• The World Economic Forum has an idea on how the US can bounce back from a recession: investing in infrastructure projects.
• The past few weeks have been difficult for companies without the ability to access remote servers with all of their information. ENR outlines how a cloud infrastructure is vital in keeping firms afloat through a crisis.
• We will rebuild! The Harvard Business Review outlines how to not just survive a recession — but also how to thrive in the aftermath.
• As we look back at the month of May, we're excited to see that the month saw a record employment rebound by adding 464,000 new jobs just in the construction industry. 

This is just a taste of the COVID-19 contractor resources we have collected. See our complete list.