The COVID-19 continues to spread across the globe at an alarming rate, almost all the countries have reported coronavirus cases. However the burden is disturbed unevenly. According to the recent coronavirus updates over 3.04 million coronavirus cases have been reported and the death toll is around 211k.  To control the spread of this deadly virus many countries are forced to implement lockdowns and travel restrictions. This pandemic has led to a wide range of consequences especially to Businesses across all industries, which have been severely disrupted due to immense pressure laid by ever increasing number of coronavirus cases and absence of any cure and vaccine availability at the moment. However the overall effect of coronavirus and its cumulative consequences are still unclear. We can say that the effects of the coronavirus and the uncommon measures being taken to contain it are as of now boosting change across businesses.

Here are three major ways in which the recent coronavirus has impacted the businesses:

1. The utmost clear and most prompt business effect of the coronavirus pandemic has been a significant disturbance to supply chains systems. Having originated in china but transmitted throughout the world at an alarming rate the global community was hit hard as countless residents got infected by the virus and many were constrained into isolation. This prompted partial and mostly full shutdowns of plants and industrial facilities, some of which were being utilized by famous innovation organizations of the world to make their services and products. For various multinationals, complex and business related services and that are taken care of by global operation are now in a cutoff situation from the rest of the world and facing mammoth losses. The need to rethought and rebuilt their process to face the current dilemma and prevent financial losses.

2. On the contrary and towards a positive note; while Direct-to-Consumer and B2B associations scramble to meet immediate and crisis needs due to restrictions imposed by the governments. The Coronavirus pandemic has stimulated another wave of business and commerce advancement. New purchasing practices are framing that are probably going to stay after the emergency has passed and this presents various opportunities for many small businesses. The individuals who saw computerized trade as an optional channel, presently need to re-prioritize their business with an advanced business center. For instance, retailers are energizing to give “contactless” delivery and pickup services for their customers. The COVID-19 pandemic is quickly accelerating the computerized business and commerce services globally.

3. The spread of the coronavirus has made a few of the most significant global tech conferences be canceled or postponed indefinitely. Bringing about various business partnerships, mergers , acquisitions and alliances to an end. This leaves many businesses in a state of confusion and inability to plan for the future. According to an estimate given by HQPredict , the cancellation of major business and tech conferences and approximately caused $1 billion indirect economic losses altogether. This has also hindered many opportunities and new business ventures. The business now need to re-plan their strategies for the future.

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