HYANNIS – The Cooperative Bank of Cape Cod, in partnership with the Cape Cod Chamber of Commerce, focused on 2021 business planning and getting a fresh start on your business in the fourth installment of its “Twenty-Minute Tuesdays” series this week.
The new edition of the monthly online Q&A video series, which provides local businesses and nonprofit organizations access to the bank’s team of experts, debuted Feb. 9. The series is hosted by Cape Cod Chamber of Commerce CEO Wendy Northcross.
Mary Lenihan, a first vice president and commercial relationship manager of the bank, and Donnie Robicheau, a vice president and one of The Coop’s small business specialists, joined Northcross. They provided planning and goal-setting tips for business owners to maximize a new year and to take advantage of the new COVID-19 relief programs.
“We recommend getting your books in order and really reflecting on what worked and what didn’t work, because COVID is still with us, and it’s going to be with us for a while,” Lenihan said.
Lenihan advised business owners to plan for equipment needs, supplies, and hiring and to address any technology shortcomings, as we now conduct business remotely more than ever.
Donnie Robicheau emphasized the importance of good record keeping. He recommended using business accounting software and spending time learning how to maximize its benefits. Robicheau also urged small business owners who qualify to use their records to apply for the Paycheck Protection Program [PPP]. More than $73 billion has been funded so far with PPP loans, but he assured there are remaining funds left to address small business needs. The Economic Aid Act extended the authority to make PPP loans through March 31, 2021.
Additional information about the Cooperative Bank of Cape Cod’s services and offerings can be found at: The Cooperative Bank of Cape Cod | Personal & Business Banking
Each prerecorded Q&A session can be viewed on the Cape Cod Chamber of Commerce landing page at http://bit.ly/20MinuteTuesdays.
Future topics of Twenty-Minute Tuesdays include:
▪ We want to close our business for the winter – what now?
▪ Is now the time to apply for a COVID-19 Economic Injury Disaster Loan (EIDL) loan?
▪ What is the next “big thing” for commercial and business interests on the Cape?
Local business owners or representatives of non-profit organizations who would like to submit questions in advance can be done via the chamber’s landing page: capecodchamber.org
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