Businesses are Struggling Amidst Pandemic, Showing Importance of a CPA, Explains Gabriela Bratkovics
Businesses around the country have been suffering due to the pandemic. With states closing many businesses and issuing restrictions on those that can open, revenues have taken a hit. Although the Small Business Administration has offered relief to some, others continue to struggle. Gabriela Bratkovics, a CPA based in New York, explains the importance of working with an accounting professional.
Businesses of all sizes need to learn how to adjust amidst the pandemic. Gabriela Bratkovics explains that action is needed to avoid having to close. Too many businesses are worried about having to close forever because of not having sufficient revenue coming in.
By working with a CPA, many businesses can learn how to take some kind of corrective action. Gabriela Bratkovics reminds businesses that they need to adjust their budget. With little to no revenue coming in, expenses have to be cut. In many instances, owners are still continuing to spend – and Gabriela Bratkovics warns that can be a mistake.
Additionally, Gabriela Bratkovics has worked with many businesses in New York to determine how they can work around some of the restrictions. Moving to an online model can allow for at least some revenue to be salvaged. Depending on the industry, it’s also possible to move a business to offer curbside services.
Gabriela Bratkovics has had a number of struggles growing up, including living in Romania until right before her 18th birthday. Although she’s struggled, she uses that knowledge to help her make the most of her life in the United States. She feels as though she has a unique perspective on the pandemic. It allows the businesses she works with to gain a new perspective on what they’re going through.
The biggest reason to work with a CPA now is to learn how to adapt. Gabriela Bratkovics explains that businesses need a new model. They need to look at where they can save money. They need to stop the bleeding, as she explains. With the ability to sit down and work through numbers, business owners can learn how they can continue to stay open. This will allow them to make it through the pandemic and continue to offer their products or services within the area.
Gabriela Bratkovics can also work with business owners to show them where they can get financial support. This includes identifying grants, loans, and other options. Congress has passed a bill that is providing support to small businesses that have been affected by the pandemic. Gabriela Bratkovics is always surprised to find out that many businesses haven’t applied despite being greatly impacted.
Gabriela Bratkovics has seen many businesses improve during the pandemic. She urges everyone to book an appointment with a CPA to get control of their finances in order to gain stability during the times of uncertainty.