The CoronaVirus has had a huge impact on the world economically. This has been a hard time for everyone and some things such as small bussinesses might never recover.
According to ENBC, almost 7.5 million small businesses at risk of being closed permanently, the Coronavirus has jeopardized the economy and well being of America.
According to BBC, many of these small businesses say that they can initially withstand the recession caused by the virus but fear that 3-5 months of stay at home orders could be fatal for their businesses. Even with the 2 trillion dollar relief fund, many small businesses are at risk of not surviving.
The Coronvirus has caused much fear within anxiety as it has enabled people from living their normal lives. This has caused many negative effects on humans mentally but also financially as many people are unable to keep their shops, restaurants, and other stores running.
“It is so hard to watch so many local businesses that have worked so hard to get to where they are, fail due to an uncontrollable circumstance,” said, businessman Tom Gleason, “It’s devastating for these individuals’ families whose lives rely on their businesses”.
Since the number of CoronaVirus cases is constantly changing, families are out of their livelihood and are struggling to support their families. With no clear future for when work can resume, many families are forced to only buy essential items such as food.
In America, the food banks are overflowing with people in need. Since the Coronavirus is so challenging to predict, the number of people going hungry could double according to the Guardian.
With uncertain times on hand, many Americans are left anxiously waiting for a safe time to re-open the economy and the public in order to regain their jobs and economic security.