July 07, 2021
Managing Shareholder, Ren Cicalese, CPA, PFS, CGMA, is featured in the June issue of South Jersey Biz. He comments in the article, “The Road Ahead” discussing the financial outlook for individuals and businesses in 2021 and beyond.
“People who are living week to week, it’s been a struggle for them,” says Ren Cicalese, managing shareholder of Alloy Silverstein Accountants and Advisors. “I would think it’s going to be even worse than that after the PPP monies go away and the employee retention credit goes away. I think there’s going to be a lot of small practices out there that are going to be out of practice because they struggled through COVID.”
Cicalese notes that times of chaos and forced adaptation can actually be beneficial in the long run. After Hurricane Sandy unleashed its fury on South Jersey in 2012, Alloy Silverstein’s Cherry Hill office was without power for 10 days, which convinced Cicalese to move operations entirely to a cloud system. That set the groundwork for a quick transition to an all-virtual model in March 2020—and advantageously positioned the company to work with others who appreciate their tech-savviness.
“I realized that the same storm could hit my Cherry Hill office and my Hammonton office,” Cicalese says. “When COVID hit, all we did was flip the switch because we had all the resources already in place. We’ve gained six years of progress in six months because we’ve realized that being virtual means our market is not just the 080 zip codes: Our market is the U.S.”
The article features other New Jersey business leaders and their thoughts on what the future looks like and the pandemic’s financial impact. Follow South Jersey Biz on Twitter @SouthJerseyBiz for more South Jersey business news and updates. Read the full article here→
