The economic Impact of a Pandemic

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The economic Impact of a Pandemic


Research indicates loads of company will go on a hiring freeze, in recreation/travel, corporate services and entertainment. Healthcare, hardware/networking and transportation sector will still be able to sustain employment.

Our future income, expenditures, debts, assets/investments will probably be affected. As the pandemic continues, there is a forecast of organizations tellings their staff that they can only pay half or zero salary until things get back to normal.

As i write, some firms have closed, being put on hold or stopped due to the global impact of a microscopic organism called COVID-19. Due to this experience, new businesses will also spring up as learnings from the crisis. More people will be hired on part-time basis and many businesses will be conducted online. Some business will remodel their business process to adapt to the new world.

Expenditures

Interestingly, expenses will be on rise! The problem here is that fixed expenses like food items, medicines will continue to rise due to their scarcity. Other expenses like rent, electricity, transportation, fuel, toiletries etc will also affected. Frugal spending should take the place of reckless or spontaneous spending. proper/rational planning should be in place now.

Debts

Taking and spending money borrowed is equivalent to spending future income today, with the prevailing global uncertainty, this is evidently the worst time to borrow except of course for survival for businesses, this is wrong period for borrowing and doing so will be detrimental.
Except your business is in the food chain, and other essential or fasting moving consumer goods FMCG, then it will be unwise to borrow.

Asses /investments:

Some investments will continue to drop and real estate will now become a buyers market. Be cautious in how you invest your money at this time so you do not burn your fingers.
The general advice is to put your money in an investment that will at least retain its value even if it does not grow.

Conclusion

This too will pass. If the world can survive the Spanish flue of 1918, Black death, and smallpox pandemic that claimed millions of lives. We will survive this but it will change our economy and daily living. It is a great reminder that nothing lasts forever and the world can change within months. The bible is a great book that predicts a lot of historical happenings and i encourage you to read the last book in it called - Revelations .
Keep safe, stay well and maintain social distancing. Connect with family using the available technology, rest, improve on skills and prepare for the next phase we are about to encounter. void sloppiness and waiting around for the lockdown to be over, this is the time to journal, create your goals and set things in place. All the best. 

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