COVID-19 and its massive impact on businesses

Hey there! With the massive outbreak of the deadly virus COVID-19, people and businesses across the world are facing unprecedented times that has resulted in immense loss of lives and shutting down of the businesses globally. So, in today’s blog, TallyDekho will discuss how the businesses have been impacted by the virus and the sectors facing the highest and least virus effect.

The COVID-19 pandemic has threatened the world as the number of cases has shown exponential growth in the infected people trend, bringing heartbreaking challenges in the day-to-day lives of the people.

Moreover, a new wave of economic depression can also be seen worldwide wherein it has become quite a challenging task for small scale businesses, consumers, self-employed workers, and other sectors as well to earn a livelihood. Even, the situation has become so worst that people are struggling to make ends meet. Due to the prolonged time duration of lockdown and quarantine, thousands of business units are shut down with an extensive loss of income and this has adversely affected human life in financial, mental, and physical aspects.

Business sectors with the highest and least virus effect

Well, putting a glance towards the preventive measures that have been taken by the Indian government, the measures have however helped in containing the virus to an extent but these measures have somewhere directly affected the vulnerable groups like small-scale business units, startups, and emerging entrepreneurs creating an extensive disruption socially as well as economically.

Sectors with the worst virus effect

Aviation

Yes, as the general nature of the virus is human to human transmission and that’s why as the virus hit, all the international, as well as domestic flights, were canceled and all the upcoming flights were also paused on account of the complete lockdown announced. Experts say that aviation is the worst-hit sector at present with the outbreak of this deadly virus.

Retail

The other affected sector is retail wherein thousands of malls, stores, and shops were closed on account of lockdown leading to an immense downfall in the GDP of the country.

Real Estate

As the containment process has set on fire, all the construction related businesses and real estate enterprises have come to an utter downward trend as almost every construction project has stopped leading to a decline in new upcoming real estate projects and a decline can be seen in upcoming sales.

Automobiles

The automobile sector is another adversely affected sector of the economy. With the outbreak of the virus, a downward trend is seen in both demand as well as the supply of locomotives and other vehicles. Thus, the automobile industry has also been impacted adversely with an extensive loss of business revenue and national income.

Sectors with least virus effect

Telecom

As the virus containment process began, the nation was set to stay at homes and strictly follow social distancing and therefore, this has induced a spike in the use of the internet and immense consumption of data. That’s why the telecom sector has expected aid in the overall progress of the industry.

Healthcare

With the coronavirus outbreak, the healthcare sector has suddenly spiked up as the number of positive patients raised and therefore, an utter need of doctors’ team and a robust medical infrastructure was seen. Thus, the virus outbreak has brought an upward trend in the overall revenue of this sector as well.

Insurance

As the people are more concerned about their secure lives; thus, with the outbreak of this deadly virus, people have been going for various life insurance policies and therefore, the insurance sector has also seen a positive trend.

Manage your business from distance and let it reach sky heights

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Meet the outstanding dues and payment obligations

With the TallyDekho business tool, you can manage all your due payment obligations in the stipulated time period with no delay bringing a sense of credibility for your business.

Analyze monthly sales report and adjust the sales targets

The daily, weekly, monthly, quarterly, and annual sales report helps in the easy assessment of sales targets and the future targets to be set and managing all these inputs is so easy that you don’t need to visit your workplace at all. Do it all right from your home.

Regular track of inventory and other inputs

Track all the inputs related to inventory and never run short of your stock. This will also bring a sense of balance in the demand and supply factors of the business inventory level.

Easy report access with graphical interpretation of inputs

The TallyDekho business tool not only provides you complete input reports but, also provides a graphical interpretation of the data and reports.

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