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What business has been affected the worst by the Covid-19 pandemic
ll business has been affected in some shape or form by the Covid-19 pandemic which has included a lot going bust. On the other hand, some business has excelled like delivery services, Amazon, and Netflix. These are the handful though that increased their revenue and the vast majority struggled and some even qualified to get support from the government to keep them afloat. Things do seem to have made a U-turn despite the economic challenges our country faces, and most industries are heading back to where they were pre-pandemic. Here are some of the businesses that were affected the most.
Airlines / Aerospace Sector
With lockdown rules in force in most countries in the world, people were restricted from travelling and even when these restrictions were removed, it was limited in terms of leaving the country. This was extremely complicated as vaccinations were required, sometimes a level of quarantine and following the receiving countries rules on arrival (which could mean more quarantine, facemasks etc). As such, a few well recognised Airlines went bankrupt, and others had a struggle to keep afloat. This then impacting the manufacturing areas of this industry who were building parts like com express carrier for software / aeroplanes. There was a lot of job losses in manufacturing in this sector but in recent months this we are seeing a lot of growth again whilst people get back on the planes and travel the globe.
Hospitality
Restaurants and pubs felt it hard over the pandemic and unfortunately there was a large amount of these that did not make it through. Even when they did reopen there was social distancing rules which limited the interaction people would normally have. Compounded by Brexit, this industry had a lot of European workers within it who have now fled the country and went back to their home country. As such, this industry has struggled to get back to its full potential whilst it struggles with the staff crisis, cost of living crisis (which means there are less people heading out for a nice meal) and also the backlash from Covid where some people now find other ways to entertain themselves.
High Street Shops
It is extremely sad to now see that a lot of stores have closed and in some high streets the sight of boarded up shops is now the norm. This is driven from the pandemic where people would not leave their homes and therefore these store owners had not way to make money (unless they did online options). Some of these stores would have government support but even with this, a lot of the stores did not make it through. Even big names like Debenhams didn’t survive. Like the hospitality industry, with the cost-of-living crisis and now with the UK being in a recession, this industry has never got back to where it is. Although there have been some signs of positivity, it is still overall on the decline.
AUTHOR: Isabelle Goode
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About the Author Jackie Groundsell
Jackie Groundsell -The Connector, owner of 1230 The Women’s Company (TWC) is also known as the queen of women's business networking meetings and events. As a businesswoman herself for the past 25 + years, she’s been there, done that and got the T-shirt! She’s an approachable recognised business Expert, Mentor, IT Trainer and has e supported thousands of small business owners through her events and lunch-time meetings Jackie is also a weekly Radio presenter, reaching and supporting even further into the business world. ... and would love to hear from you.