COVID-19 is a horrifying shock to the global economy – what started from Wuhan in China is now bringing the entire world on its knees. All around the world, a number of companies are going bankrupt, prices of gold and oil are declining, businesses are out of operations, people are jobless and experts are yet to forecast how long it will take to lessen these effects.
So, if you are a small business owner or planning to start your own business – you must be very well aware of these effects for making informed decisions, seeking funds for your startup or while employing manpower to help you with several chores in your operations.
With pandemic being in its full swing and a condition of recession sneaking around the corner, there may come a forever change in the way businesses operate and investors invest in the time to come.
Therefore, before you do the hard work on your idea – hold on. Do some research, find out how much your market is affected, how likely investors are to invest in your venture and then make a decision.
As per our understanding, investors, at the moment, will be just supporting ideas or businesses that provide a solution for the masses and answer all the digital challenges being recognized in the present lockdown situation.
But, before we see what those ideas are and what industries will boom after and amid the pandemic – let’s see its effect on the overall economy.
