Covid-19: Implications for Business

Covid-19 is an infectious disease transmitted through the air when humans breathe in droplets and tiny air pollutants carrying the virus. Its symptoms include loss of taste and smell, throat irritations, chest tightness, and fever. Its first case was discovered in December 2019 in China. Afterward, it spread its roots to every country, causing many deaths. This disease is affecting the whole world quickly, resulting in a global pandemic.

Covid-19 has affected the economy of almost every country. Pakistan has lost one-third of its earnings and 50% of its exports due to the COVID-19 epidemic and shutdown. Any industry, whether small or medium, faces the consequences of the Covid-19 outbreak. It is a fact that industries already working on a large scale usually possess a significant amount of resources, so they are not as much affected compared to the industries working on a small scale. A company or a business that does not have a tremendous amount of capital will run out of stock soon as compared to a company that can refill its stock every week. A huge number of medical laboratories benefit from this disease as they conduct a Healgen antigen test to check viruses within a person. If a person is detected with Covid-19, they should isolate for 14 days to avoid contact with any other human being.

Pharmaceutical Industries

Three types of tests are available for detecting Covid-19. These include PCR testing, antigen testing, and antibodies testing. As the virus started to spread, World Health Organization recommended every person wear a face mask to decrease the chances of spreading coronavirus. They are strictly recommended for those detected with Covid-19 or who have come in close contact with the one detected with it. The prices of face masks have increased drastically, making it difficult for a person to buy them. Hand sanitizers have also become quite expensive due to the shortage of stock. As a result, they are all making a tremendous profit now. Hospitals have become crowded due to a shortage of beds and an increasing number of patients.

Restaurants and Outdoor Facilities

Every government announced a strict lockdown, resulting in a complete shutdown worldwide. This hugely impacts restaurants and malls all over the world. Individuals can’t go out during the lockdown. Although options for online orders are available, they don’t avail. Interest in home cooking has increased exponentially, drawing more restaurant setbacks. The grocery stores have seen a considerable increase in sales as people are stuck in their homes.

Transportation Industry

Flight operations all over the world are affected severely by Covid-19 as people cannot travel without a negative Covid-19 test. For some time, even the flights were closed. People who were supposed to go to another country could do nothing. Even the road operations faced a halt.

As a result, almost every type of industry is facing the drawbacks of Covid-19, and every government is trying its best to prevent it from spreading. People are trying their best to meet their needs in this difficult period.