8 Strategies for Getting the Most out of your PPP Funds
The Paycheck Protection Program (PPP) is one of the most aggressive government support packages for small and mid-sized business that we’ve ever seen. These funds, which are designed to enable companies to maintain their workforce and assist with rent, mortgage interest, or utilities during the Covid-19 crisis, may provide a cash cushion to support other business advantages as well.
We’ve summarized the ideas we collected to help more manufacturers continue on their path to Stage 4: Thrive. The 8 high-level business strategies include:
- Improve Health and Safety Policies
- Enhance Automation and Machine Technology
- Improve IT Value
- Hiring and Employee Benefits
- Enhance Sales and Marketing
- Smooth out Production Schedules
- Save on Capital Purchases
- Increase Cash Reserves