COVID-19 Impact on business: An Outsider Insight
The COVID-19 pandemic is creating great uncertainty on the business worldwide. To give you a clear idea of the impact that it is having on companies and in some countries. The new coronavirus pandemic has crossed all borders, on Worldmeter you can the current state of the virus in the world.
In Mexico, Mario Escobedo Carignan head of the (SEST), specified that micro, small and medium-sized companies are the most vulnerable to not surviving in the face of a crisis caused by the pandemic.
Carignan explained that all companies will be affected to a greater or lesser extent and that 100% are taking measures, from the coronavirus detection filters, as well as the implementation of work from home, in drastic cases, the temporary closure.
Other measures being taken for the outbreak is that more and more countries are closing their borders and declaring quarantine to prevent the spread of the virus, economic activity is sinking, companies in the worst-hit sectors are restaurants, tourism, and airlines that have undoubtedly been forced to cut their flights due to cancellations and border closings. And is that governments around the world have introduced travel restrictions to try to contain the virus.
Other companies that have been greatly affected by the economic crisis that China has presented due to COVID-19 are Alibaba, Nissan, Pernod, Ricard, and Nestlé.
As a serious consequence of all this, many workers are losing their jobs and the stock markets are still in free fall.
A good thing to all this is to know that some countries are taking economic measures to face the pandemic:
- France, it has been announced that the rent and utility bills for electricity, gas or water are suspended, while the State itself will take over the bank loans for people who cannot take them on because of the epidemic.
- In Italy, suspension of tax and mortgage payments for SMEs and households.
- Here in the US, we reduced the interest rate to almost zero and an emergency stimulus program of US $ 700,000 million was developed.
There are events that we cannot control or prevent from happening, an example is a COVID-19 pandemic, to attack it is to put into practice measures recommended by experts, important! Always keep calm and don’t panic.
Let’s just stay calm and stay safe!
They are events that come and have to go, they do not come to stay!