Quick answer: yes and no.
Yes, if you built your business with no continuity plan or are simply not confident you can weather this storm.
No, because these are extraordinary times. Every economy has spiralled downward and businesses are not hitting their revenue targets while customers are in quarantine. So it's not just you. Everyone's on the same boat.
For businesses that managed to adapt in remote working environments, it is best to carry on until your locality's infection rate drops. You will know from the government if quarantine will be lifted, extended or modified.
And to those that are currently out of work or find it impossible to shift to a remote work setting, besides strict adherence to self-isolation and social distancing guidelines, now is the perfect opportunity for introspection. Conduct a quick SWOT analysis of your own company and formulate ways to improve areas of concern. After the pandemic dies down, you'll be among a handful of businesses that can fast-track their recovery.
As isolation and other containment measures continue to impact businesses, however, e-commerce websites are gaining momentum. Online groceries and supermarkets with online shopping options are greatly benefitting from this change. But due to overwhelming demand, some stores have run out of stocks.
Throughout the duration of this quarantine period, you will be seeing traffic spikes in the e-commerce sector.
Furthermore, some website owners are also offering services to address the needs of these interesting times. Insurance companies, for example, will now cover COVID-19 infection. Home deliveries or express couriers are likewise gaining popularity.
Click here to read more about sectors that weathered the pandemic storm.
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