COVID-19: How Coronavirus is Impacting Businesses Worldwide

Coronavirus

The novel Coronavirus (COVID-19) is top on the list of trending topics since it was first detected in Wuhan, China late last year. As the outbreak rapidly evolves, affecting countries, people, and businesses, the World Health Organisation (WHO) has declared the COVID-19 a global public health emergency. 

In Nigeria, an Italian man was confirmed to be the country’s first Coronavirus case after arriving from Milan, travelling through Lagos and visiting another state. The case has prompted a commendable response by the Nigerian authorities who have tried to trace everyone who were on the same flight as the patient and determine the places he visited before his diagnosis.

With 98,051 cases and 3,356 recorded deaths worldwide (at the time of writing this article), the repercussions of Coronavirus are being felt in 87 countries, threatening not only the health and lives of the world’s population, but also the global economy. This is why we thought it appropriate to break down Coronavirus’s potential impact on businesses.

Many international organizations like Facebook, Amazon, Google, and Microsoft have banned business-related travels and are forcing employees who might have been exposed to the virus to stay home for 14 days. The global economy is being jolted by the virus with stock markets sliding and industry events being canceled. For instance, events like Facebook’s F8, Google I/O, the Geneva Motor Show, and Mobile World Congress have been called off due to the outbreak.

It’s far too early to determine whether these efforts will contain the virus soon. What is certain, however, is that the Coronavirus outbreak continues to impact businesses and workplaces. Consequently, the virus has necessitated an increase in remote working as many employers are allowing—even forcing their employees to work from home.

Given the massive scale of this outbreak and the impact it is having on businesses worldwide, it’s an important time for organizations to adhere to WHO’s COVID-19 advice for the public.

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