Implications of COVID-19 on On-Demand Businesses

Companies are compelled to explore options to survive while grappling with mammoth side-effects of the COVID-19 outbreak. The Gross Domestic Product (GDP) has been pushed from 2.5% to 0% currently. Aftermath and spill-overs of the #COVID19 on the businesses will likely be felt in the form of increased workplace regulation and restrictions on travel, reduced spending by common customers and delays in investments. This will have a proportional effect on supply chain disruption and uncertainty in financial, banking and insurance. As consumers and businesses look for alternate options to run daily operations, technology has turned out to be a great saviour for many industries giving way to on-demand solutions like on-demand grocery apps, movie streaming apps, online learning apps, video calling apps, on-demand doctor apps and likewise. Know the reasons and precautions that #businesses need to take to handle the crisis.