5.22.20

Friday Five Business Briefing – May 22, 2020

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Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers.

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In a constantly changing business environment, here’s news to help you navigate the coronavirus pandemic, including webinars to guide your relaunch; how to talk with customers and employees; the new bankruptcy law; and more.

  1. Support for your next step during COVID-19 — The Michigan Small Business Development Center now provides a series of on-demand webinars to help you navigate financing options for relaunch, reopening your retail business, cybersecurity during the pandemic and more. Access the webinars.
  2. Scared people are not rational people — Talking to consumers right now requires care. A study by JoyCorp shows that people are operating in one of four phases: comfort (pre-pandemic); fear; learning and adjusting; and establishment. Learn how to communicate with customers in each phase.
  1. You’re ready to reopen but your employees aren’t? Watch how you can address and allay their fears.
  1. New bankruptcy law could help small businesses — Chapter 11 bankruptcy is designed to help restructure businesses in financial trouble. The new Subchapter 5 caters to small businesses with less than $2.7 million in debt. Read what lawyers say this tool can (and can’t) offer your business.
  1. Remain resilient in uncertain times — Discover five strategies for entrepreneurs and managers to remain resilient in these uncertain times here.

Thank you to our Friday Five sources: Michigan Small Business Development Center, Fast Company, Inc., Fortune and StartUp Health.

Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. During the coronavirus confinement, we’re available online, by phone and by appointment at select offices equipped to maximize safety.

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Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers.

Learn more

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