Rick Gould, Managing Partner, Gould + Partners
[Editor’s Note: What is PR’s financial future? In late June, we asked Rick Gould, managing partner of Gould + Partners, for his views on M&As and weathering the economic morass of the pandemic.]
PRNEWS: Rick, what do your phone calls sound like these days? What challenges are PR firms asking you about?
Rick Gould: The number-one concern is fear of a second wave of the pandemic. Most consider the uptick in several states as part of the first wave. The uncertainty about a second wave makes many C-suite executives cautious with major investments such as acquisitions, executive compensation increases, hiring and new offices.
A second major concern is whether or not we will get another stimulus, such as the Payroll Protection Plan (PPP) and Economic Injury Disaster Loan Program.
PPP was a savior for a majority of PR firms but, as could have been predicted, firms used up the PPP funding in the eight weeks of the program on retaining employees...they still lack the revenue to continue keeping staff on the payroll.
PRNEWS: One of your specialties is M&As. Has there been much activity during the pandemic?
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