1 / 7

How will the COVID-19 global pandemic impact small businesses?

The rapid spread of COVID-19 has shaken up economies all over the world. Weu2019re in the midst of what economists say is an unprecedented global collapse in production, sales, and business confidence. One

Cameronlloyd
Download Presentation

How will the COVID-19 global pandemic impact small businesses?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How will the COVID-19 global pandemic impact small businesses? A PRIMER BY DESIGNS.AI

  2. REDUCED CONSUMER SPENDING Given employment uncertainty and increasing health risks, consumers are seeking to cut costs as much as possible especially for non-essential products and services. ● Goldman Sachs projects that global sales will likely drop by 24% in the second quarter of the year. ● https://blog.designs.ai/2020/03/30/how-will-the-covid-19-global-pandemic- impact-small-businesses/

  3. DECREASED POPULARITY OF PHYSICAL STORES As much as 98.6% of all physical retail establishments are small to medium enterprises. ● Despite predictions of a looming recession, 44% of small businesses have not taken any measures of preparation. ● https://blog.designs.ai/2020/03/30/how-will-the-covid-19-global-pandemic- impact-small-businesses/

  4. LACK OF IN-PERSON BUSINESS OPPORTUNITIES The cancellation of major tech events earlier this year have incurred over $1 billion in direct economic losses. ● As much as 53% of U.S. B2B marketers consider in-person events and trade shows an effective channel for driving conversion. ● https://blog.designs.ai/2020/03/30/how-will-the-covid-19-global-pandemic- impact-small-businesses/

  5. RISK-AVERSE INVESTORS The global growth rate will likely be cut by 1.5% in 2020 — over half of what global economies would have achieved otherwise. ● Economists fear that the COVID-19 pandemic may lead to a global recession worse than the 1997 Financial Crisis. ● https://blog.designs.ai/2020/03/30/how-will-the-covid-19-global-pandemic- impact-small-businesses/

  6. MAJOR SUPPLY CHAIN DISRUPTIONS One factory owner in China stated that he expects production delays to cost his company a 30-40% decrease in annual revenue. ● Even SMEs in countries barely hit by the pandemic will likely experience supply chain issues given today’s level of economy interconnectedness. ● https://blog.designs.ai/2020/03/30/how-will-the-covid-19-global-pandemic- impact-small-businesses/

  7. READ THE FULL STORY HERE: https://blog.designs.ai/2020/03/30/how- will-the-covid-19-global-pandemic-impact -small-businesses/

More Related