Covid-19 has proven to be a global disaster in more ways than one. While all our efforts are focused on preserving human lives, which remains the primary concern worldwide, other threats are already emerging amidst this unstable climate. As thousands of businesses close their doors to stop the virus outbreak, millions risk losing their jobs and the ability to support themselves and their families, not only during this crisis but permanently.
Experts predict that a global recession is on its way, far greater than any seen before and we all need to unite to get through these difficult times. The economic aftermath of COVID-19 will hit all businesses, big and small, across all areas, but it’s the small ones that will take a greater hit. While it’s true that group-owned luxury brands are suffering huge losses, their economic structure will allow them to endure the crisis. However, with sales drastically falling in the current and upcoming months, small business owners will be forced to close and lay-off their employees.
We are all scared about what lies ahead, but it’s up to us as consumers to support the small businesses we love and want to help get through this. This doesn’t necessarily mean going on a shopping spree; a small purchase is a great help, as is sharing their business on your social media or reposting their content to make them known to a wider audience.
Let’s help small businesses live!