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❓ASK The loss incurred by businesses during the pandemic

AudraMiller

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There are many businesses that suffered greatly because of the global pandemic and the fact that they had to close their doors during this period as well. Many people and countries actually went into a lockdown phase where no one was allowed to leave the house and therefore businesses were greatly impacted. Do you think the pandemic actually affected physical business is much more than could have been anticipated because they still had to pay for items such as rent on a property which they were no longer using? How do you think this could have been managed?
 
I'm afraid the pandemic created a grave situation for all businesses, big and small, except for the fact that small businesses were completely erased from the business sector while the big businesses were able to survive by going online as they could afford it. It is a sad thing that happened and I don't think it could have been managed through any means. Small businesses suffered a huge loss and lost their basic means of living. The fact is that the pandemic destroyed lives to sum it up.
But all small business are completely erased. Like in my area many business including the small business still exist except from the business that were looted during the pandemic. It also opened door for new business opportunities and with this many business became richer most especially Amazon
 
Yeah, many businesses suffered severe losses during the pandemic season and it went up to the extent that people even find it very difficult to eat at that time especially those that needs to go look for their daily bread on a daily basis else they would starve.
I think it was even at this point that so many people learnt about the online method of earning money and it has been a blessing to us actually.
 
The coronavirus pandemic has showed a lot of business people that it is always very important to plan ahead and also plan for uncertainties.

It actually made so many businesses to lose a lot of money and at the same time, there are businesses that benefited.

People who are making face masks made a lot of money during that period. A lot of online businesses boomed during the Corona virus pandemic.
 
There are lots of business that closed due to pandemic. Just like in my town majority of businesses here are something that have connection with school. So when the classes is done virtually it made lots of people to close their business and do other things instead.
 
But all small business are completely erased. Like in my area many business including the small business still exist except from the business that were looted during the pandemic. It also opened door for new business opportunities and with this many business became richer most especially Amazon
I wonder what small businesses, except of course those related to the protective gear for the virus, could have survived the pandemic. Amazon and many other online giants, already popular online, made money like crazy but the innocent poorer classes, dependent on their small businesses for their daily bread, disappeared from the business scenario which is pathetic.
 
The coronavirus pandemic has showed a lot of business people that it is always very important to plan ahead and also plan for uncertainties.

It actually made so many businesses to lose a lot of money and at the same time, there are businesses that benefited.

People who are making face masks made a lot of money during that period. A lot of online businesses boomed during the Corona virus pandemic.
Planning ahead and for uncertainties is a general rule for all businesses but do not apply to the pandemic. The pandemic took us by surprise and there was no time to plan for any uncertain moment. Businesses closed just like that, unable to pay the rent what with the lockdown and no income from the business etc. Travel business suffered, cab drivers stayed at home and lost their major source of income. Nobody could do anything to manage such a situation.
 
I wonder what small businesses, except of course those related to the protective gear for the virus, could have survived the pandemic. Amazon and many other online giants, already popular online, made money like crazy but the innocent poorer classes, dependent on their small businesses for their daily bread, disappeared from the business scenario which is pathetic.
Yeah, the small businesses suffered a lot. They had to close down their businesses due to the great impact from the pandemic. But the large businesses that have an online presence flourished so much. Which gave so many people the lesson that having an online presence is the way to go during such times.
 
Planning ahead and for uncertainties is a general rule for all businesses but do not apply to the pandemic. The pandemic took us by surprise and there was no time to plan for any uncertain moment. Businesses closed just like that, unable to pay the rent what with the lockdown and no income from the business etc. Travel business suffered, cab drivers stayed at home and lost their major source of income. Nobody could do anything to manage such a situation.
That's actually true, the coronavirus pandemic took a lot of people and businesses by surprise and therefore, so many of them could not be able to survive.

Everything was locked down so there was actually no way you could be able to run your business even if you had saved the money or planned for some certain things.

I got what you're saying but everyone who is venturing into a business should learn one or two things from the Corona virus pandemic lockdown.
 
The pandemic period was a hard time for must business most especially the offline business. The pandemic rules and regulations which restricted movement of people make it very difficult for all offline businesses to transact their business as usual and this further bring losses to them since they were unable to do their normal business.
It was quite very difficult for so many businesses in this part of the world. During that period, I could remember some people that had perishable products and due to the coronavirus pandemic lockdown that came unexpectedly, they lost a lot of money in that particular business.

Even though, they've been able to recover some of the money but it still had so many disadvantages to the business growth.
 
Yeah, the small businesses suffered a lot. They had to close down their businesses due to the great impact from the pandemic. But the large businesses that have an online presence flourished so much. Which gave so many people the lesson that having an online presence is the way to go during such times.

Indeed, small businesses had endured more problems and there is a big reason for that. Big businesses have more than enough capital and other kind of big assets that could help them to sustain for a long period of time. However, this is not the case with small businesses because they have limited resources and assets that could save them.
 
Whenever I remember the pandemic and how many people lost money, especially those in the sale of perishable goods, I feel very sorry. It was global damage and the world wouldn't want to see such a pandemic again. The inflation we suffer today comes from the pandemic and this is having negative effects in the world.
That's very correct. I just pity those who had to lose so much to this pandemic stuff and that's why the market took so much time to recover because people had lost even the capital to continue running their business.
It wasn't an interesting thing to witness but we are very grateful that the whole thing has come and gone. And we just hope that such won't befall the world again.
 
That's very correct. I just pity those who had to lose so much to this pandemic stuff and that's why the market took so much time to recover because people had lost even the capital to continue running their business.
It wasn't an interesting thing to witness but we are very grateful that the whole thing has come and gone. And we just hope that such won't befall the world again.
Well, it is through that covid-19 epidemic is almost over but the impact still remained. Inflation is still high on most developing countries and if care is not taken we will have to wait for more years for things to get back as before. It is sad to see the collapse of some businesses during the covid-19 saga but it opened door for many online businesses
 
As painful as such losses were to businesses in the pandemic, they were unavoidable. It's not only limited to physical, offline businesses but also some online businesses too.

For example, those who do dropshipping, those that deal with travel niches or those who sell physical items. Even if they still had customers, the reduced income may not be enough to pay for expenses already incurred before the pandemic.
 
The pandemic has had hugely detrimental effects on many businesses, either because of their sector was badly affected or because they were newer or smaller businesses. I think in many places affected businesses didn't receive a lot of financial support either. And dealing with the economic aftermath is now also a whole new problem on its own...
 
The pandemic has had hugely detrimental effects on many businesses, either because of their sector was badly affected or because they were newer or smaller businesses. I think in many places affected businesses didn't receive a lot of financial support either. And dealing with the economic aftermath is now also a whole new problem on its own...
Those businesses that were just getting started must have suffered so much due to the pandemic. Some of them are likely not running anymore. It was so unfortunate that so many businesses, even the most established ones could not get financial aid from the government. The had to struggle through the hard times alone.
 
For me if someone ask me I will say that there are always loss in any business during the pandemic people loss alot of money in their various business.

The computer shop which I created back then face some loss and risk and for this I beleive that I have to fold up the business because of that pandemic.

The only business that was moving back then was the food business and cloths anything education was closed and shut down some people even turn to work online
 
Well, it is through that covid-19 epidemic is almost over but the impact still remained. Inflation is still high on most developing countries and if care is not taken we will have to wait for more years for things to get back as before. It is sad to see the collapse of some businesses during the covid-19 saga but it opened door for many online businesses
I think the inflation part is very much true. I just can't understand our national economy these days, it's almost losing value day by day. Maybe it's because of the pandemic just like you've suggested or maybe there are other contributing factors to it.
The thing that makes this inflation unbearable is that things are now becoming very costly while people's salaries are still the same. Guess it's an advantage of working online.
 
For me if someone ask me I will say that there are always loss in any business during the pandemic people loss alot of money in their various business.

The computer shop which I created back then face some loss and risk and for this I beleive that I have to fold up the business because of that pandemic.

The only business that was moving back then was the food business and cloths anything education was closed and shut down some people even turn to work online
That is so unfortunate that you had to close up the computer business that you had started. But now the pandemic has gone down and so you have a chance to restart it.

The food industry truly thrived despite the pandemic. That is because people will always need food. Those who were selling food never ran out of business.
 
Those businesses that were just getting started must have suffered so much due to the pandemic. Some of them are likely not running anymore. It was so unfortunate that so many businesses, even the most established ones could not get financial aid from the government. The had to struggle through the hard times alone.
Yes, this is a sad reality. On a brighter note, I have also seen a lot of companies who were able to restructure their business and turn towards a more online-based structure. Of course, this is not possible with all sectors, but many managed to stay afloat this way.
 
That's actually true, the coronavirus pandemic took a lot of people and businesses by surprise and therefore, so many of them could not be able to survive.

Everything was locked down so there was actually no way you could be able to run your business even if you had saved the money or planned for some certain things.

I got what you're saying but everyone who is venturing into a business should learn one or two things from the Corona virus pandemic lockdown.
Yes, you're absolutely right. One who ventures into a business now after the pandemic outbreak should learn from the grim situation that arose two and a half years ago. Everyone has probably learnt a good lesson too. But pandemic happens once in a century or so. It is not necessary that people should be prepared for such instances ten years down the line. We were caught off guard when corona happened. Let's hope that those who suffered heavy losses during the pandemic are able to stand up again.
 

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