The spread of the coronavirus has caused uncertainty and pain for many businesses, whilst some have been able to stay stable, others have managed to hit their stride and find success, but there are also just as many that may not be able to reopen their doors once lockdown measures ease. The time in which lockdown measures may be eased is quickly approaching, with the first stages perhaps coming within the next week or so, but as the roadmap set out spans many months and the first step doesn’t include all businesses, so where may this leave others?
Those in the service industry are set to continue struggling, many restaurants for example have been running on ‘ghost’ kitchens in which only a small number of staff are available at any given time, but as the ability to reopen slowly becomes available, it has also been made clear that social distancing measures must still be followed as the two meter rule must remain in place – this will dramatically decrease the capacity that many locations may hold and continue the struggles that they face. This is also true for many other businesses that rely on people to come close together – airlines are set to prepare to reopen but there are warnings that long boarding times and reduced flight capacity could continue to increase the downward spiral that many are facing. It isn’t all bad news, however, as history has shown that some of the struggles may only be temporary and a bounceback may happen quickly – particularly those who operate out of the utility industry may regain a call to action once others start to recover and require their services.
There are also those who have been performing extremely well during the crisis, particularly in digital. Online gaming has continued to find a huge increase in market as those stuck at home look for an alternative way to spend their time – for those in the UK a good resource for non gamstop casinos has been able to provide a number of safe options for those looking to get involved and as traffic numbers within this sector begin to surge, many expect the trend to continue for the foreseeable future. The same is true for the streaming sector, movie releases have found increasing success through digital only releases as some examples have managed to earn more in a short period of time through digital only compared to full theatre and cinema releases perhaps paving a new way for releasing new content.
Any changes to measures are set to be tentative, however, and may change at any time – although those in the service industry such as restaurants are currently slated to be the very last to open once lockdown measures are eased this could quickly change, but it could also lead to them being closed for longer than anticipated. Many will now be waiting for updated data to be released to determine the full impact of the current restrictive measures so that some predictions may be drawn toward the expected recession and just how long, and how big of an impact it may actually have.