A Brief Update From Your Association

Happy belated Independence Day. I hope you are doing well and were able to enjoy a long holiday weekend, taking a welcome and well-deserved break with friends and family. I know many of you are struggling with the new challenges brought on by the recent spike in COVID cases and its impact on our families and businesses. Hopefully, you were able to set all that aside for a day or two to rest, relax, reset, and refocus.

This week I only have a few items I want to cover:

  • Payroll Protection Program Extension
  • Gathering Industry Sales Data
  • PPAI’s Rapid Re-planning Efforts
As previously reported in PPB Newslink, the U.S. House of Representatives and Senate passed legislation to extend the Payroll Protection Program deadline until August 8, giving you more time to take advantage of money allocated to small businesses. President Trump signed the legislation Saturday. The PPP provides forgivable loans of up to $10 million to small business to help meet payroll and other day-to-day operation expenses. Be sure and take advantage of this opportunity. At last report, billions of dollars were still available. If you need more information, visit the U.S. Small Business Administration website.

In the next week or so, PPAI will be sending out a survey focused on benchmarking our industry sales through the first two quarters of 2020. While we’ve heard numerous reports of companies being significantly down, we’ve also heard from others who have found ways to pivot and make progress. Additionally, there are signs that ‘traditional’ (non-PPE) business has been picking up overall. Help us report reliable information on industry sales by responding. The survey will have no more than 10 questions and won’t take longer than a few minutes to complete. Whether it’s a “misery loves company” scenario or one that offers cautious optimism, this benchmarking survey will give us some clear indication of where we stand as an industry and hopefully some best practices and benchmarks for moving forward.

I also want to update you on the steps we’re taking at PPAI to ensure the well-being of your Association, as well as best position us to help you and your business over the coming months. The short-term strategic initiative we are working on, which we are referring to as the rapid re-planning process, is focused on providing you with the programs, products, and services you’ll need over the next 12 months, while also taking into consideration the fiscal well-being of PPAI. As part of this process, we are looking at each division of PPAI and examining it within three possible scenarios for what the industry and the Association will look like a year from now. We are considering what makes the most sense in a best-case, worse-case or no-change scenario. While in our normal strategic planning process, the board of directors would look out three to five years, this rapid re-planning process is short-term, focused, and meant to guide us through the next year. If you would like more information on how to implement this process in your own business, I can put you in touch with the expert facilitator guiding us through this process.

As always, you have my email and phone number. Please don’t hesitate to reach out and share your thoughts and suggestions. They are always welcome.

Stay safe. Stay strong. Stay productive.

Paul

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