Picture this: an abrupt disease has surfaced the earth causing the world to be in a frenzy. Not only do you have to worry about making the right health-related decision, but you also have to make the right financial decision. If you don’t your 20-year established business may have to close completely and in many cases it may be forced to close, anyway. This will not only affect the lives of you and your family but also those who you have employed; this is the story that currently reflects many lives around the world..
The Corona Virus is truly a tragedy that has had profound environmental, social, and economic affects on the world. This international pandemic has created a society in which people are forced to avoid contact with one another in fear of acquiring the virus. The fear of this virus has proved so great that society is willing to give up something that is valued and a necessity: human contact. The hope is that through this limiting of contact the number of COVID-19 cases will decrease; however, with this comes consequences, one of which is the immense financial impact on businesses, and especially those that are local.
Businesses across the world are being forced to close temporarily, and for many the financial burden has led to complete closure. The result has been the major increase in unemployment, which has reached over 20% within the United States. (according to Fortune Magazine) The following articles are designed to give insight into how various businesses are managing this pandemic, problems they are facing, solutions they may have, and more.