Ways Coronavirus Can Affect Your Business and Precautions you should consider
Date : Mar 11, 2020
Author : DR Armed Zayed
With more than 80,000 recorded cases of Coronavirus, mainly in China, many businesses have become more and more concerned with their welfare. But, very few actually understand the impact this virus can have and why taking the right precautions can be super important for the company’s operation.
Since this virus is considered 20 times deadlier than the cold, it’s very important that keep your business and employees always prepared. Here are the four ways Coronavirus may impact your business, and what precautions you should consider.
The 4 Ways Coronavirus Will Affect Your Business
Ever since the virus first emerged, it has left a psychological impact on people all around the world. It has caused many to panic and results in prejudice, which has had a massive impact on both social and economic level.
Coronavirus will have an inevitable impact on all kinds of businesses with both long and short-term consequences.
These are the four ways Coronavirus may impact your business, and what precautions you should consider.
1. Factories in China are now short on labor, which has massively disrupted the supply chain across multiple industries. Businesses that work with pharmaceutical, technological, or various consumer goods are unable to receive or transport products from and into China.
2. Quarantines and travel bans have drastically affected tourism and travel, making business meetings and international deals more difficult to do.
3. There is a huge decline in consumption in China, which has squeezed in international businesses in various sectors, some of which are luxury goods, electronics, entertainment industries, and education abroad.
4. Manufacturers in China plan to cut the output due to the decline in commodity prices.
In other words, all markets, companies, or businesses that highly depend on materials and products from China will face a major ripple through their finances. Regardless of whether they are in the investment, tourism, or trade sector.
How to Take the Right Precautions?
This disease can be prevented if people take the right precautions. The same thing applies to businesses or major companies that work abroad. The best ways to avoid this virus altogether is to:
– Stay away from direct contact with infected individuals or people that are sick.
– Always wash your hands thoroughly to remove any bacteria that may rest on the skin.
– Avoid touching your mouth, nose, and eyes if you haven’t washed your hands.
– Disinfect your hands with a potent sanitizer that is manufactured with 60% to 95% alcohol.
As you can see, the most important step to avoiding this virus is paying attention to your hygiene. Since our skin easily becomes exposed to viruses, it’s crucial to sanitize it to avoid transferring the virus to yourself, colleagues, or customers.
It’s also important that you pay attention to your respiratory hygiene. Every time you think you will sneeze or cough, use a tissue to cover your mouth. After you’ve used the tissue, make sure to throw it right away.
Reusing the same tissue could expose the nose and mouth to potential bacteria. Therefore, it’s crucial not to reuse anything that has been in contact with some kind of infection, even after sneezing.
Note: For individuals who haven’t been infected, it’s not recommended to wear a face mask. But, for those infected, face masks can be useful.
Now that you know the four ways Coronavirus may impact your business, and what precautions you should consider, have you given it any thought? Has the virus impacted any of your exports from Asia? Have you received all the supplies you’ve ordered? Let us know your thoughts in the comments below.