From the Blog

Take Stock Of Your Finances

March 25, 2020 12:46 PM | Michelle Minner (Administrator)

written by Cynthia Bleskachek, NUA board member at large and owner of The Funky Little Chair


In addition to current health concerns, as small businesses and solopreneurs most upholsterers are also feeling the stress of immediate job disruption and probable recession.

To help you navigate that aspect of Covid-19, we’ve assembled some recommendations and resources:


  1. Take a beat. Before any action, take a deep breath. Have you navigated a financial setback before?  Can you have faith in your ability to do so again? Get in a good space and calm any racing thoughts before continuing.
  2. Assess the situation. Okay. NOW take stock of your finances. What are your fixed expenses? What can you reduce or delay? What revenue do you have in the pipeline? What’s your emergency cushion?  This is just an inventory - the most important thing right now is to make informed decisions, and to do that you need to be INFORMED. If you work with a financial advisor, connect with them to get their knowledgeable, objective perspective. 
  3. Review offers from the government that may  allow you to continue working. For example, the federal government and many states have extended the 2019 tax deadline



  1. Explore and test your capital access. IF you should need an infusion of cash, what are your options? The best time to think about this information is before you need it. Thoughtful consideration should be given to what you can do without borrowing, and how borrowing would later affect your business. But you’ll likely feel much better knowing where your safety nets are - and research is free. The U.S. Small Business Administration is always a good resource for discovering what’s out there, and at present they have information dedicated specifically to Covid-19. Another excellent resource is SCORE (this link takes you to the national page where you can find your closest chapter)
  2. Contact the people you regularly work with and rely on, such as your vendors and contractors. The goal is to be as flexible as you can - relationships are part of the long game. Ask for deferrals if needed. It can never hurt to ask what new options and terms might now be available. It’s in everyone’s interest right now to work together towards a positive outcome.
  3. Communicate with your customers - But don’t just send another email like all the ones you are getting. See what your clients might need and how you can fill that need if possible. Maintain the relationships you’ve worked so hard to build - continue to serve them and be part of their trusted team.
  4. Make a plan with your staff. Your employees need to know you’re monitoring the situation, so don’t disappear from their line of sight. Your plan should have an A, B and C. Making tough decisions may be necessary, so plan and share what you can in advance to keep everyone informed.
  5. Connect with your community online. In a time of social distancing we want to be careful not to fully isolate. This is not healthy for any of us. We need connections and since we are all in this together, we will recover and come out of this together. Find online gatherings that are supportive in your local and regional areas as well as across the country/world. Offer support as you can. Work diligently to not incite or increase fear and hysteria. This causes us to shut down and not be creative or to think in a way that will help recovery efforts later. 
  6. Think past the situation we are currently in. Start to create a Restart/Reboot plan. This is a plan that says how you will focus and what you will do when we are able to “turn our business back on.” What might this look like for your company? What changes do you need to make now to prepare for that?
  7. Prioritize self care in all areas. Physical, mental, spiritual and emotional. Give yourself the space you need and try to maintain healthy rhythms and habits.


We hope this helps you to focus some of your energy during this uncertain time. Remember, as experienced problem solvers, upholsterers are well qualified to navigate the unexpected, even if we occasionally need a little help to do it! If there are ways we can assist, please reach out by emailing - and remember that these general recommendations are not meant to replace qualified guidance for your specific business.


Thanks to Michele Williams of Scarlet Thread Consulting for assisting us in this action plan. Michele is an educator member of the NUA specializing in Profit First and business coaching for interior designers and workrooms. Watch for Michele on our 2020 webinar schedule and follow her on Facebook and Instagram



The National Upholstery Association is proud to present various viewpoints of our members and partners within the upholstery community. Perspectives (or opinions) will vary. This Blog is made available for general information; not to provide specific business, financial, or legal advice. The Blog/Website, and resources given, should not be used as a substitute for advice from a licensed professional in your state.


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