The pandemic has been a crisis quite unlike anything the world has seen to date. Startups and small businesses have been particularly shaken up, looking for a Plan B and emergency measures.

WHAT HAS BEEN THE IMPACT ON DIFFERENT INDUSTRIES?

The effect of national emergencies and social distancing has been the strongest on industries relying on clustering of people. Airlines, cruise lines, and other travel types; conferences, hospitality, and trade shows; movies, sporting events, restaurants, and theaters; and education have, consequently, suffered a huge impact. Many large businesses are shutting down some part of their operations and/or asking their employees to work from home, as part of their changed corporate strategy frameworks.

The effect on gig workers and small businesses has been worse. By definition, their cash reserves are smaller, as is their scope for making errors in the process of managing unexpected downturns. The impact on overall economies from the feedback and ripples from multiple closures is significant, given how people are slowly falling out of work and thereby buying lesser products and services than they would otherwise have.

https://www.lifeandexperiences.com/a-survival-guide-for-startups-during-the-coronavirus-pandemic/