The Prospect of the Business Sector in Post-pandemic

This chapter explains the ramifications of the COVID-19 pandemic on the business sector and the extent to which enterprises and markets responded to the changes brought about by the pandemic in the business environment. It argues that the pandemic experience was unprecedented in terms of pace and scope and that many enterprises could not withstand its harsh economic and financial consequences. Economic recession, closure and downsizing of companies, disruption of the global supply chain, food insecurity, financial and human losses, and layoff of employees caused by the pandemic are clear examples of the kind of damage that could face the business sector at the times of similar crises. There are lessons to be learned from this experience and both governments and enterprises are encouraged to prepare for the next crisis that could even worse than the pandemic.