{"id":225311,"date":"2023-05-25T12:01:21","date_gmt":"2023-05-25T12:01:21","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/navigating-bank-failures-in-your-atlanta-business-right-now\/"},"modified":"2023-05-25T12:01:21","modified_gmt":"2023-05-25T12:01:21","slug":"navigating-bank-failures-in-your-atlanta-business-right-now","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2023\/05\/navigating-bank-failures-in-your-atlanta-business-right-now\/","title":{"rendered":"Navigating Bank Failures in Your Atlanta Business Right Now"},"content":{"rendered":"
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Memorial Day is next week. The unofficial start of summer.<\/p>\n

I like to remember that when things are unpredictable and even a bit hairy (like a shifty economy, bank failures, debt ceiling crisis), normal life still goes on. <\/p>\n

People will still prep their grills. They\u2019ll whip up their mom\u2019s potato salad recipe. Celebrations with friends and family in the backyard will still happen across the 50 states.<\/p>\n

It\u2019s always good to keep that in perspective. <\/p>\n

As a business owner, you\u2019ve probably gotten good at managing crazy for a while now. Running a business in our post-pandemic economy takes a special kind of chutzpah. <\/p>\n

That\u2019s why I want to jump into part 2 of my banking crisis articles. I\u2019ll get back to the second half of our talk about the new FinCEN reporting requirements soon. <\/p>\n

But today, my goal is to help ease your mind about the topsy-turvy economy and equip you to navigate it.<\/p>\n

Naturally, I won\u2019t cover everything about navigating bank failures in this article. There\u2019s a lot more to be said. <\/p>\n

Until, then, I\u2019ve got some thoughts on how you can carry your Atlanta business forward in this present moment\u2026<\/span><\/p>\n

Navigating Bank Failures in Your Atlanta Business Right Now<\/strong><\/span>
\u201cBanking is very good business if you don\u2019t do anything dumb.\u201d – Warren Buffett<\/i><\/span><\/p>\n

It takes a lot of moving parts to keep a business running, no matter how small or gargantuan it may be. Some of those things your business relies on involve outside institutions. (As much as we like to think we operate in our own bubble\u2026 that is rarely the reality.)<\/span><\/p>\n

Aside from your utility companies, your bank is probably the outside institution that\u2019s most vital to your small business.<\/span><\/p>\n

Which is why, in the midst of a banking crisis, you might ask, \u201cIs my bank in trouble?\u201d <\/span><\/p>\n

Accusations keep flying on Capitol Hill as lawmakers grill bank execs. Warren Buffett himself has warned that the banking crisis isn\u2019t over (though he adds that depositors generally shouldn\u2019t worry). <\/span><\/p>\n

A <\/span>recent survey<\/span><\/a> showed small-business owners divided between those who have confidence in America\u2019s banking system and those who don\u2019t. Almost a third said they weren\u2019t going to open a new bank account anytime soon. A slight majority think their business capital is secure \u2014 but fewer are finding it easy to actually access the capital they need.<\/span><\/p>\n

Throw in nagging inflation and frequent hikes in interest rates (though both might be slowing this summer)… and the banking crisis can feel like a worry that\u2019ll break the camel\u2019s back. <\/span><\/p>\n

Allow me to comfort you, if I may: It isn\u2019t<\/u>. <\/span><\/p>\n

Navigating bank failures is possible for you and your company\u2026 with perspective, caution, and a sharp eye for options.<\/span><\/p>\n

Navigating bank failures means new<\/strong> kinds of risks<\/strong><\/span><\/p>\n

When bad asset allocation, sketchy investment, and lax risk management rattle banking \u2014 and Congressional inquirers think all of those apply to the current crisis \u2014 it\u2019s only natural that other businesses like yours start thinking about new kinds of lenders.<\/span><\/p>\n

For instance: <\/span><\/p>\n