Early in the COVID-19 pandemic, several countries appeared to roll out aggressive mitigation strategies which avoided the necessity for lockdowns. Unfortunately, the more recent experience of these countries suggests this is not likely sustainable. We advise you to consider “business as usual” to become impossible, likely sooner than expected.
For Non-Profit Corporations, you will need to list at least 3 Directors/Trustees. For Limited Liability Companies, you will need to list at least 1 member or 1 manager.
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In planning your response to COVID-19, you are not just preparing for a prompt, critical threat to the business. You should also plan for waves of similar conditions interspersed with brief returns to relatively normal operations. This will be during an atmosphere of general trepidation and with confusion in the public response. The social distancing measures will not end quickly and will likely be instituted multiple times.
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Experts suggest that burning out the virus requires a lockdown multiple times the length of the course of the disease, which is approximately two weeks. Experience from previous pandemics, such as the Spanish Flu, and from the countries affected by COVID-19 first, suggests that we could see multiple peaks in infections. This will likely result in jurisdictions relaxing local restrictions, having infection spread pick up again after a lag, and re-imposing the restrictions. It appears likely that most cities worldwide have already or will have to take drastic social distancing measures, resulting in a partial to complete cessation of local commercial activity, at some point within the next few months. This includes where you live and do business, if you have avoided this to this point.
You may notice a gray box on the front of the postcard that reads “Principal Positions Hold”. This means that your business entity has failed to list the statutory number of principals. For Domestic Profit and Professional Corporations, you will need to list at least 1 officer and 1 director.
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We are optimists, but can’t predict how long it will take humanity to vanquish COVID-19, or how long disruptions will last in your area. You should consider opening up online revenue streams if possible; they will help you both in the current circumstances and may provide interesting opportunities for growth into the future.
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