I remember a little about the 1980’s. I remember watching MTV, hearing about yuppies, and I remember Ronald Reagan’s election.
But the main thing I remember about the 1980’s was the interest rate. Not because I had to pay it, but because my dad was a bricklayer. When the interest rate was 18.5%, very few people wanted to build a brick house. My dad had to assess where we were, assess his business, and make plans to be flexible to take other jobs to keep the family going. It was scary.
And while, right now, I don’t think we’re heading towards a 1980’s scenario we are definitely in unchartered waters.
As your association, we can advocate for you to be able to work. We can provide Information to you about best practices in these uncertain times. We can seek the truth in all the rumors that are circling around the cities in which we operate. We can do a lot for you, but we can’t make decisions for your business.
My hope is that this will all blow over in a couple more weeks. But, sometimes hope isn’t enough and we have to prepare for difficult situations. I don’t want to be alarmist, but if there was ever a time to be proactive and assess your business, this is it.
I encourage you to take some time to call your banker now. Call your insurance provider now. Call you vendors now. Check with those who rent from you. Determine what your risks are and develop a plan to minimize them.
Make sure you are following the CDC guidelines. Your state association has provided some protocols below that you can put in place today. Abide by those protocols. If we fail to abide by those protocols, we could see more harsh restrictions on our industry.
No one really knows how COVID-19 will impact our industry and our economy. At the BIA we’ll continue advocating for the industry to be an essential business – because you are. People will need their roofs fixed, their hot water heaters changes, their windows replaced, or a place to live.
But while we do that at the BIA, I encourage you to look at your business and prepare yourself as best you can for whatever may come.
We’re here for you. Call me or email me with any questions or help you may need.
BIA of Greater Louisville
502 458 0032 – mobile
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