How COVID-19 is Affecting Business Industries



The COVID-19 outbreak has changed the lives of people around the world, especially businesses and employees.

Social distancing, state required shut downs, and self-isolating have created a new normal for all industries and professions.

In this first part of a two part series, we’ll look at how COVID-19 is affecting business industries and what that may mean for the future.

How COVID-19 is Affecting Business Industries

 

At the time of this writing, every business sector has been affected by COVID-19.

The outbreak has meant businesses have been put on hold or have closed. Other businesses have transitioned into a remote work force.

Some industries are essential, while others are not.

Let’s look at a few business industries that are currently being affected.

Construction

We’ve previously taken a look at how COVID-19 is affecting the construction industry in one of our blogs.

For some areas of the US, construction has either continued for certain projects or has been deemed non-essential.

A construction activity report by Construct Connect shows which states currently have any restrictions for construction projects.

Construction Activity Report

Currently, the states of Michigan, New jersey, New York, Pennsylvania, Washington, and Vermont have deemed construction to be a non-essential business.

This means that projects not officially done for public infrastructure, housing, or healthcare are not a priority.

In other states, construction has been deemed essential for daily life. This includes any projects for housing, transportation, and more.

The activity report is updated as more information is gathered.

Food/Dining

The restaurant industry has been deeply affected by the coronavirus, with many restaurants having to completely change their business model.

Restaurants that have a delivery option or who partner with delivery services like Door Dash or GrubHub have been able to maintain business, but it’s not the same as having a full sit down service.

Other restaurants, especially those that are small startups, may not have the cash flow to implement drive thru or takeout models, leaving them no option but to close.

Delivery services have actually shown an uptick in popularity as more people are ordering food, with options to include no-contact delivery.

Restaurants that still allow for takeout are observing social distancing rules by having plastic guards at order stations or checkout to protect themselves and customers.

Entertainment

The entertainment industry, like food & dining, also has a split effect due to the outbreak.

Live or in-person events have been canceled or postponed to later dates, with many popular musical acts or film festivals delayed until further notice.

One of the major impacts to entertainment has been the way we watch movies and television shows.

Both movie and TV productions have halted, creating delays for upcoming movies, shows, and premieres.

AMC Theaters, one of the largest movie chains in the US, announced it would need to file for bankruptcy due to the COVID-19 restrictions.

While people are unable to go out to see a movie, this has shifted to new digital platforms to watch movies in their homes instead.

Netflix streaming service
Photo by freestocks on Unsplash

Many movie studios, like Disney and Paramount, have begun to distribute their movies for rent, while streaming services, like Netflix, Amazon, and Hulu have seen their subscriber numbers grow.

HBO Go, Sling TV, and YouTube TV have either extended their free trials or are now offering indefinite free options to watch their programming.

Shipping

We look into how the coronavirus was affecting the shipping industry in this blog.

Like others on this list, the shipping industry has been impacted by COVID-19, due to delivery shipping ports in China.

China is one of the largest and busiest container transport hubs, with 80% of world goods being carried overseas. This has caused a decrease in the number of ships arriving or leaving the country’s ports.

Healthcare

Since the outbreak of COVID-19, healthcare professionals have been overwhelmed by the virus. Doctors, nurses, and other support staff are on the literal frontlines of the outbreak.

IHME State Predictions During COVID-19

Healthcare officials are concerned with not only the spread of the virus but being able to treat and test possible infections.

These are just five industries that have or are currently being affected by COVID-19. While the current outlook seems bleak, the aftermath may actually change businesses and the world as a whole.

In this article, we looked at how COVID-19 is affecting business industries and what changes some of them are going through.

In our next article, we’ll see what current predictions are for the future.