Small Biz Contractors at Biggest Risk as Shutdown Looms
Government Contracts attorney Eric Crusius spoke with Law360 about why the potential U.S. government shutdown poses greater risks for small businesses. Factors such as inflation, high interest rates and a tight job market will all make a 2023 shutdown worse for contractors than previous years. Mr. Crusius explained that this shutdown would be more significant than the previous one because more agencies would also be impacted. The article mentions that taking an inventory of the contracts can help small businesses prepare for a shutdown.
"Once the shutdown ends, contractors should then seek reimbursement as quickly as possible, not only to try to get cash flowing back into their potentially depleted coffers, but because in some circumstances, they only have 30 days to make a claim for recovery," he stated.
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