In general, the coronavirus pandemic has had damaging and lasting effects on businesses and whole industries. The arts are suffering badly with theatres being unable to open at a capacity that would make opening profitable. So, they are left to continually lose money, it has gotten so bad that the Royal Albert Hall has launched an appeal to help support them.
The sports and fitness industry’s have also suffered as a result of the pandemic. All clubs in the football triangle are losing money as fans are unable to come to matches, but this is affecting the smaller clubs the hardest as most of their income comes from ticket sales. It has gotten so bad for some clubs, mainly lower down in the football triangle, that there is the very real risk of them going bankrupt.
However, there are some exceptions to this. A significant increase in demand of video communication apps have caused the share prices of Zoom to rise from $68 at the beginning of the year to $458 at the beginning of September. Not only Zoom has benefited but other online services such as Netflix and have seen a significantly higher number of users than would have been previously forecasted.
Some people have benefited but many people especially small businesses have been devastated by the pandemic. In times like this, we should look to support others anyway we can, so we can all come out of this better.
