John provided expert insight into the state of the economy for small businesses and at-risk employees before and after Covid-19 and provided an optimistic view of what we can expect in the aftermath of this crisis. 

Here are the key takeaways from the webinar:

This is a reset, not a reboot. 

“Covid-19 stopped the party for everybody at the same time all over the world,” but this economic crisis is temporary and we will bounce back, because this crisis isn’t caused by bad financial practices; the economy is still sound and the government is providing unprecedented support to all Americans. We just need to wait out the next 30-90 days by staying put and using this time with our family, or alone with ourselves, to discover our Higher Purpose so when we come out of this, we have a better sense of how we can do better in the aftermath. 

The same is true for a lot of pre-existing national issues. Before Covid-19, “the urgent always crowded out the important”. Now, the important has become urgent as well. The fragile aspects of our economy and society are becoming more visible and require attention now and in the aftermath of Covid-19. For example, before Covid-19, 70% of Americans lived paycheck to paycheck, 64% of Americans didn’t have $500 to deal with an unplanned event, and 54% of American workers were distressed by money issues. These pre-existing conditions have been exacerbated by Covid-19 and will likely receive increased attention in the aftermath of this crisis. John looks upon this moment as an opportunity to strengthen the parts of our economy that we knew weren’t performing at peak levels saying, “We might have just had a break on some really bad habits that we would not have corrected ourselves, and now we have a chance to decide who we want to be when we grow up and I’m hopeful we will make more conscious decisions as capitalists.” 

The government is providing unprecedented levels of financial support; take advantage of it.

There has been an immediate response to support from the bottom up to give all Americans breathing room during this crisis. For example, if you can’t pay your mortgage on time over the next 30-90 days, your bank has been directed to restructure your mortgage so you don’t feel a change in your standard of living. That’s unprecedented. That said, the financial reality of job loss, business interruption, credit issues, and debt can be a challenging landscape to navigate. Affected Americans – including at-risk employees and small business owners – may need a financial advocate to help them navigate their way to financial health; Operation Hope can help.

You can call Operation Hope at no cost and they can help you modify your credit cards, your student loans, your mortgage, your small business agreements, navigate the CARE Act, and so on to provide you with win-win-win agreements. If you or any members of your team have expertise in finance or accounting and want to contribute to a worthy cause, please encourage them to volunteer their time with the Operation Hope team.