April 1, 2020—During a Silicon Slopes video conference on Monday, Sen. Mitt Romney, R-Utah, advised listeners to “focus, focus, focus” on what is “absolutely critical to survival in these tough times.
Romney was addressing the several hundred small business owners in Utah who logged into YouTube this week to hear what relevant news from the federal government the senator had to relay.
“I was in a similar situation to a few of you,” Romney said, referring to a time when he was a manager of a thousand-person company that at the time was two weeks away from bankruptcy. Based on his own experience, the senator recommended “a very careful analysis” of the different lenders that small businesses should “pay back” and who they should “stretch.”
Romney also advised that business owners be highly adaptive and “rethink the design of your product given the post-covid19 world.”
When asked what the most important thing was for small business owners, Romney replied “extensively communicating.” Romney said that clear communication among between executives and employees, and executives to other executives, is crucial to allay panic caused by confusion.
“When the wheels come off, people get frightened,” Romney said.
The senator also conveyed the series of emergency disaster loans available to struggling Utahns. He encouraged potential applicants to watch out for financial snags such as the affiliation rule.
Romney likened the emergency loans to “free money” and praised their low interest rates. Specifics of these loans and can be found at www.romney.senate.gov.
Romney also gave his thoughts on various leadership approaches to dealing with the virus. “I hope we’re learning lessons from Asia, particularly South Korea, Taiwan, and China.” In particular, the senator hailed China’s aggressive strategy of
Similarly, Romney gave credit to President Donald Trump for his early decision to stop flights coming from Wuhan, China, the origin of the disease. However, the senator was also quick to grill the federal government for not delegating responsibility to distinct teams.
“We’ve given people mixed signals” Romney said regarding Washington’s coronavirus response. “We have to stop looking like Italy.”
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