Business owners worldwide are the most hit by the pandemic. All sectors of the economy have been hit. Thus all businesses have taken a hit. Service industries have been the most affected because movements and interactions have been limited.
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Covid-19 pandemic has both positive and negative impact on business since its inception, the negative impact it has on business is that most offline business like shops and market stores that are not onlines looses most of their customers and their products expires, while online business gains a lot of attention.Covid-19 has a great financial impact on business owners in the sense that people do not move around freely unlike before.people watch what they buy, where they buy from and even things they buy due to the virus spread and all it has streamlined customers wants and needs .
This is true, the vast majority of off-line employees were left without jobs, which is very unfortunate since the owners are unable to maintain the salaries of the workers. As long as the companies do not have production and demands, the cash inflows do not make it sustainable to keep the employees.Covid 19 has really affected most people's businesses. Many businesses has already folded up while some remain still during those period. The effect is still felt till date in many business. Even staff and office workers lost there jobs during the pandemic.
This investors that withdrew their investment in did business only did it out of fear and they are most likely in need of money at that particular time.It is no longer news that Covid-19 slowed down the activities of many businesses and organisations. This affected these organisations financially and it is a global phenomenon.
Many investors withdrew their investment in some businesses since they can no longer thrive. This has got me wondering how such businesses would re-start and balance up their financial gaps.
Do you have an idea of what could be done?