TMCnet Feature
April 06, 2020

Impact of Coronavirus Pandemic on Business

It is known to everyone how the novel coronavirus has deeply unrooted the basics of human life. No country or continent is untouched by its effect and still seems to be suffering from its infection. At the time of being written, coronavirus has affected a total of almost 800,000 lives if we count just the ones that are tested and found infected. As you look into it on a wider scale, a scale that takes the lives it has affected, it is almost the whole human race.

Since everybody’s daily life has been affected by this virus, there is no sector left in this world that has not experienced a downfall, let alone the medical industry which is directly involved in it. Everyone is forced to stop going to their offices, run their businesses and sit back at home for indefinite time to play bingo games or cook recipes. However, the most affected sector after the medical industry is the business industry. The business has been interrupted and there seems to be no proper time or way to get things back to normal.

Here is how the COVID-19 started to affect in a way that has puzzled all the genius business minds.

The effect of slow but drastic infection

The coronavirus is being considered as one of the widest global events to have happened on the planet. No country is left safe from it. However, the one thing that really bothers all the different industries is that although the virus spreads easily, it has a slow process of infecting people. Not that a fast infection rate would be better for the world, but this 4-stage process takes a lot of time to happen if the countries take precautions. Most big countries of the world, including China, India and Italy have been put under complete quarantine or lockdown situations to control the spread of viruses. This leads to a longer duration of virus prevailing in the world and therefore keeps the business halls shutter down.

Delay in recovery measures

One of the biggest tensions of all the doctors and scientists regarding this novel virus is that there still is no solid way to stop the spread or disinfect the virus. This means that even if the virus spread is stopped or contained, there is no true cure for the pandemic. The absence of a solid cure keeps the doctors and peoples always under fear of losing control of the virus containment anytime. This fear further extends the time for which industries will have to be kept closed, directly impacting the business and economy of the world.

The impact on a global level

As we all know, the virus has not seen any boundary till now, it is affecting the world all at once. This means that no other country would be able to help another if it continues to grow with its slow but drastic pace. Even if countries start to recover with this virus, they still might have so many problems in mending their own economy that it is almost impossible for a helping hand from some foreign country. Since the world economy is going down collectively, the speed of recovering from it will also be in synchronisation. All countries will have to fight this together and start from the core to mend the imbalance that the virus created everywhere.

Nevertheless, the one positive point of this pandemic is that after probably an era of time, the whole world is on the same side, trying to fight and help each other by not contributing to spreading the virus even further. The scars that this virus will leave may be unmendable but right now the sole motive of the world is to save human lives and nothing else.

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