Anonymous asked Fanbank , 3/16/2020 ( 1 comment )

What kind of impact will coronavirus / COVID-19 have on small businesses?

Fanbank replied:

Thanks for the question. These are uncertain times. COVID-19 will have an uneven impact small businesses. As social distancing is a key strategy to minimize the spread of coronavirus and since CDC recommends against gatherings of 50 or more people, bars and restaurants and the sectors associated with hospitality and travel and tourism are on the front line and will be the most immediately impacted. COVID-19 has basically shut down the meetings and convention business across all industries and related supply chains are being affected too. Although some types of small businesses will feel the impact first, eventually, there is going to be a ripple effect that will be felt by everyone in our globally connected economy. We address some of the steps that small businesses can take in light of this pandemic over in the Fanbank Community. See: 10 Ways Small Businesses Can Combat COVID-19