The topic of how businesses will be affected by the viruss and the lockdown is crucial not only for enterprises themselves, but also for each person in the society. It is true that either if a person is a consumer or an employee of a specific business, their lives will be affected one way or another. Below are listed the direct consequences as well as the indirect ones of a national shut down.
I will hereby focus on Switzerland, since I am located in the country and have access to many sources of information. Also, It is interesting to take as an example a country which is known for having a strong economy.
Directly affected would be employees who might already be in technical of partial unemployment and will receive only 80% of their salary. Also, many people might wonder if they will eventually be terminated, due to the lack of work and the fear of not being able to pay the salaries anymore in the long run. So, one can wonder how these people will be taken in charge by the unemployment services and how they will be helped in case of bankruptcy and
The survival of businesses which have to be closed and are not allowed to work in this time of crisis is also put at risk.
Indirectly affected would be the consumers of the businesses. Not being able to produce the products will lead to a shortage.
Having said that, we can talk about businesses and Coronavirus from many different angles, but we are focusing on those directly affected, more especially small-to-medium business as well as start-ups.
Right now, we can already raise a couple of questions which will be developed in my further articles:
- Which measures the Swiss government came up with, and are they enough to support all businesses in trouble due to the crisis?
- How can a start-up with little financial resources survive the Covid-19 lockdown measures?
- How can individuals and bigger firms support these businesses in need?
- which sectors are mainly affected and how could they act to minimize their bankruptcy risks?
- How will the overall business world look after the crisis?
To sum up my first article, I would like to point out that it is important to think about this topic because everyone in the society, either as a an employee or as a consumer of goods produced, is going to be affected. Hence, it is crucial to know how the country is preparing to help, which sectors are mainly at risk and how each one of us could help these business to survive. It is also crucial that we think about our way of doing business and reflect on if it would be useful to change our way.