Coronavirus outbreak and how businesses may get affected

The Coronavirus outbreak has been around for three months and there is no doubt that this outbreak has a tremendous effect on our daily lives. Aside from students sent home for online classes, businesses have their own prevention method to this outbreak by doing their work from home. Streets being emptied retails closed and the government indirectly putting a house arrest in major cities with endless surveillance and patrols. These are efforts, known as social distancing, being implemented to prevent the widespread this disease. So, what is this virus that prevents us from catching fresh air at the coffee shop with our colleagues? The Coronavirus disease (COVID-19) is an infectious disease caused by a new virus. This disease may lead to respiratory illness with symptoms such as dry coughs, mild fevers and breathing difficulties for severe cases. This virus has not only impacted the health of our world but also has a direct effect on this world's economies and there is no surprise that small businesses are at the brink of collapse.

There are large corporations such as e-commerce business, electronic device developers and social platforms that are surely getting the benefit of this huge opportunity where people are at home and binge-watching on their favourite Netflix series. As we know, one of the preventions of this virus is to ensure our hands are clean and hence a sudden surge of demands for hand sanitizers, tissue papers, and sanitary masks have made their respective companies sure make the big bucks on this specific pandemic. For other high-profit companies, this may lead to a steep decrease on their profit charts, mainly due to customer loss and the decrease in work efficiency, but are still able to hold together on their own. On the other hand, it is very unlikely for smaller enterprises to be able to hold their own under this tragic catastrophe. Nearly one-fifth of small and medium-sized businesses in the U.K. are unlikely to get the cash they need to survive another month despite promises of unprecedented government support, according to the BBC Today programme. It is rather predictable because of it is like providing supplies with no demands. A survey of 163 companies of all sizes across China and found roughly 1,000 small and medium-sized companies week said they could only survive for a month with the cash they have.

The fallout of small- to medium-sized enterprises is not something to be caught out with. It is rather predictable because of it is like providing supplies with no demands. First of all, the lack of income can really damage the business in a simple manner in which there are more outcomes, for wages and debts rather than incomes. Especially when they struggle to get their loans with banks being shut down. Secondly, they will suffer even greater debts. In addition, the scarcity of demands in this period of time is just a recipe for disaster. Thirdly, to say the least, these SME's are on the verge of bankruptcy when they are not able to pay their employees or further pay their debts.

In conclusion, these SMEs are currently in difficult times and they are fighting their fight for existence economically and health-wise. This unfortunate turns of events are not what we want or what we ever wished for. A company at risk will also increase the risk of unemployment among many. For now,  these businesses will have to be resilient and do what they do best which is making money. Nonetheless, this pandemic will eventually die out and normal activities may resume but as they say, only the fittest will survive and it is up to businesses to have that edge to hold on over others.