Coronavirus has forced many companies and small businesses to close, either temporarily or permanently. The financial impact has been devastating.
Millions of people have been laid off as a result of Coronavirus. Unfortunately, one of the first things companies have done during this pandemic, has been to cut costs by reducing staff, either by laid offs, or by reducing their working hours to a minimum.
The coronavirus has collided with a troubling economic trend. Even before the pandemic, people all over the world were living paycheck to paycheck, barely able to keep up with their bills. The ability to prepare for an unplanned loss of income was out of the question, which is why businesses are closing their doors indefinitely.
In addition to concerns about our physical health due to the COVID-19 outbreak, we are all most likely experiencing additional financial stress and worrying about how to make ends meet after a sudden loss of income.
If you are not in either of these situations, count your blessings!
But if you are, let’s gain some strength, high spirits, and find our way out of this maze. We need to get ready for the comeback!