Question

provide a general description of COVID-19 impact on businesses.

Answer 1

Covid 19 has made a huge impact to the businesses. It has effected the business economy along with the deadly effects on people's lives. Due to disturbance in supply of labour and raw material , limitations to movement of public , their purchasing abilities and working capital restrictions, has effected the businesses specially the clothing and textile sector.Industries dealing in automobiles or auto parts are also effected due to fall in demand, low income of people and recession phase in the economy. Tourism sector will face the impact of covid 19 for the coming many months also because due to fear, people will not opt for outings or traveling even after the problem is settled. Construction sector businesses face two sided problems as they use borrowed funds i-e they have to pay high interests for borrowed funds with low sales.So , many businesses are effected adversely.

But few businesses made gains during COVID 19.Chemical & Pharma industries had more demand due to more production of drugs , disinfectants or medicines.

So,COVID 19 effected some businesses in positive manner while had adverse effects on some.