What are the Effects of Pandemic to Small and Medium enterprises and economy?

[kayode10]

The pandemic outbreak will have adverse effects on small-scale business that take loan from the financial institution. The interest on the loan will keep mounting as they will be unable to pay back when they don't make sales.

 

[Shigobad2020]

I am a living witness of the effect of pandemic on small business, i owns a small baking store and we had to shut down all the businesses due to the lockdown order, because there is no movement , and most of the ingredient was wasted .

 

[Kaffyfolla]

It has been discovered that. Various enterprises are facing different issues with a certain degree of losses. Particularly, enterprises are facing a variety of problems such as a decrease in demand, supply chain disruptions, cancelation of export orders, raw material shortage, and transportation disruptions across the globe

 

[Ononivami]

The effect of the pandemic on small investors is very enormous as it almost kill all the small businesses. That is why business owners started creating online presence.

 

[Adegbe12]

Small business always have problem when it comes to pandemic or issues raise, because it bring the business down back to the beginning

 

[Lens]

The small scale business felt the impact of the pandemic more than the big conglomerates. That I'd one of the reasons why one need to be very prepared to create an online presence for one's business.

 

[tyrim88]

One of the things i have come to observed about the issues the pandemic has brought to the local and global economy at large is that,even though there has been loss of jobs,a lot of persons have actually come up with strategic ways of doing business online.

 

[Electrohunter26]

Is there any sme you know that are now closed or temporarily closed due to pandemic? What are the effects of it your country's economy?

Yep I know alot of them that got closed and some that got bigger.
It depends on the business they are in let's take medical equipment alot of small businesses made huge profits working in that in covid on the other hand there are some businesses that either got bigger or smaller after covid depending on the location so we can take restaurants as an example countries with strict food regulations got restaurants alot of money why? Because when covid started everyone wanted to stay home and their eating habits changed much and they know that they can safely eat in that country on the other hand if you find a country with poor food regulations people would give up on the idea if getting food from restaurants because they know that the food weren't that good what about now? When covid started we were asked to take care of our food not just to become healthy and have a stronger immune system but because covid can get in your food so you will notice that this business in some countries made a huge losses when covid started

 

[Sotherefore]

The small scale business felt the impact of the pandemic more than the big conglomerates. That I'd one of the reasons why one need to be very prepared to create an online presence for one's business.

This might not actually be true , most bigger business were not allowed to operate during the pandemic period except those that were officially permitted by the government . but I believe some smaller business in their various locations were able to operate over here because the masses will need the smaller business at all cost.

 

[Ononivami]

The small scale business felt the impact of the pandemic more than the big conglomerates. That I'd one of the reasons why one need to be very prepared to create an online presence for one's business.

The bitcoin companies immediately resort to online presence and their business continued as usual but many of the small businesses do not have enough money to create an online presence.

 

[Electrohunter26]

Well tbh if they weren't in either electronics,food or medical fields then they got wrecked countless got closed which I either know from irl or from news
Big enterprises tho were able to adapt and get away without having to close or temporary close

 

[Lens]

This might not actually be true , most bigger business were not allowed to operate during the pandemic period except those that were officially permitted by the government . but I believe some smaller business in their various locations were able to operate over here because the masses will need the smaller business at all cost.

You are absolutely correct but most of the big companies that I know is the bug companies resort to working online and everything looks normal because the were able to carryout their routine activities.

 

[Sotherefore]

You are absolutely correct but most of the big companies that I know is the bug companies resort to working online and everything looks normal because the were able to carryout their routine activities.

I don't really know about the one you are talking about , but most of the organisation that was operating over here was supermarket and hospital under the permission of the government.

 

[Setho]

I believe that the most significant effect of the pandemic was seen with the introduction of lock downs. This affected small businesses in a lot of way because citizens were no longer allowed to be able to transact in the normal way in which they were doing and that significantly led to a drop in sales .

 

[Lens]

I don't really know about the one you are talking about , but most of the organisation that was operating over here was supermarket and hospital under the permission of the government.

The companies that are not dealing with essential commodities are not allowed to operate here too, but these companies resort to creating online presence for their clients to have access to.

 

[Syldan]

The outbreak of the pandemic has so many negative effects on the economy not only a particular country but to the global economy. Most of the tourists business were shutdown, transportation was also stopped and so many people lost their business.

 

[Sotherefore]

The companies that are not dealing with essential commodities are not allowed to operate here too, but these companies resort to creating online presence for their clients to have access to.

Ok I now understand what you were trying to say. That is a wise business decision and if must renown company have resorted to doing that , probably they will likely attract a lot of customers.

 

[Setho]

There is no doubt that the small and medium enterprises in the country are always going to suffer due to situations like this. It would have been better if the government is going to give them some kind of relief fund but at the moment we can be rest assured that something like that is not going to happen .

 

[Achawaskey]

It really affect many businesses especially the small or contractors who collect contracts from big companies. In my company it looks as if it will not affect them but when the lock down starts rolling in, it begins by affecting the time workers use to come work, gradually the management ask us to live.

 

[Lens]

Ok I now understand what you were trying to say. That is a wise business decision and if must renown company have resorted to doing that , probably they will likely attract a lot of customers.

The best thing to do at that time is to create an online presence inorder to remain in business. You will be able to remain relevant during the pandemic by creating online presence.