Apr 20, 2020

COVID-19: Don’t Depend on Government Funds for Your Small Business



Ashley Ryan: Ready. Yeah. Hi everyone, it’s Ashley Ryan, the CMO of Envolta bookkeeping and accounting and David DiNardo the co founder and president, I was good to see co founder, all of a sudden I want to take over Envolta…


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David DiNardo: It’s all yours. Right.


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Ashley Ryan: So today, David and I want to talk about


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Ashley Ryan: Some. There’s a lot of things happening in the world. A lot of big changes and big changes for your business and big changes, personally.


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Ashley Ryan: And there’s a lot of power right now that we’re putting in the government and how that stability is there. So, David, what are your thoughts around the government supporting us and how that looks. In time wise and everything, especially for businesses.


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David DiNardo: So always my thought what the government or anyone that could potentially have control your business is don’t rely on them. Right.


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David DiNardo: as business owners, the reason why we’re entrepreneurs is because we want. We like the control of our business and we want that freedom or to take our business to the next level and not worry about all the bureaucracy.


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David DiNardo: What’s happening with the Canadian government right now is they’re doing a lot of great things. There’s been a lot of changes and their minds are in the right place. I completely support that.


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David DiNardo: However, this started march 15 it’s April 17 right now and we still haven’t received from our clients perspective, from my perspective, any of the major initiatives, haven’t we haven’t seen the monetary value. Come back to us.


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David DiNardo: A couple of, for example, you know, they’re talking about this wage subsidy. It got approved last Saturday.


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David DiNardo: Has the application process is still not there. When would we ever see the money come into the account. So the government’s asking us, hey, keep your employees.


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David DiNardo: For the next X amount of weeks or X amount of months. Let us give you 75% wage subsidy, but I don’t know when the application process is going to be ready and I don’t know what you’re going to get the money.


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David DiNardo: Their minds are right, but we can’t rely on that and business owners are calling me all the time being, like, Hey, Dave. Once the application process ready ones. The application process and it’s changing on a daily basis. So as their advisors. I’m trying to tell them


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David DiNardo: Definitely it’s coming down the pipeline, but focus on your cash flow. Now, and focus on making money right now or not making money and finding solutions rather than wait for the government.


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Ashley Ryan: Yeah, I think.


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Ashley Ryan: People can control.


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David DiNardo: Things you can control. So I always recommend that


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David DiNardo: Unfortunately, the government is playing a bigger perfectly. Now, which is great. However, you got to really


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David DiNardo: start cutting costs start doing all the little things in order to prolong this so when the funds do come to you, you’re able to be actually you instead of survive, you’re able to kind of thrive and position yourself better


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David DiNardo: And Cobra 19 is done.


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Ashley Ryan: Yeah, so we need to be flexible and be changing gears and kind of always looking at the opportunities versus


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Ashley Ryan: But I know everybody who’s watching as a business owner has those inherent qualities in them. That’s probably why you do well in business.


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Ashley Ryan: So what I’d recommend is going over to involve.ca. The link is floating around my head somewhere and we give you regular updates on what’s happening.


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Ashley Ryan: In business in the world and finance, accounting coven 19 what’s going on right now and we try to impart information that’s easy to understand.


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Ashley Ryan: And digestible, I think that’s what people love the most about our content is this field can get very wordy and very confusing.


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Ashley Ryan: So we want to really break it down so you understand what’s going on and and how we can support you. We also offer we do online tax filing completely online.


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Ashley Ryan: Anybody in Canada, personally, as well as we do business Bookkeeping and Tax filing. So if you want a free consultation, that’s also available. So if you head on over and yeah thanks for tuning in.

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