The economic impact of COVID-19 and related stay-at-home orders has reached nearly unbelievable proportions. As of April 10, 31 percent of Americans were furloughed or had lost their job because of virus-related events, according to a survey by Freedom Debt Relief.
But many businesses are hoping they can hang on to their employees until they can secure Paycheck Protection Program (PPP) funds to temporarily cover payroll costs or the economy reopens to begin the long process of recovery.
To business owners looking for every possible place to cut costs and preserve cash before initiating layoffs, there are several budget adjustments to consider.
"The key to barter is to turn your trade dollars into cash-purchasing power. With IMS it's practically infinite - anything we used to buy with cash we can now buy with trade dollars. Our broker is great. She works hard for us. Almost anything we need, she finds. The biggest advantage to bartering is getting new business from people who otherwise would not have heard of our company."