(RightWing.org) – Every year brings its own economic challenges and opportunities. Financial crisis, technological innovation, trade war – they all affect the economy. Some businesses will suffer, others will gain. There haven’t been many years like 2020, though; how has the economy coped?
Well, it’s been a tough year, and the biggest challenge for everyone has been the coronavirus pandemic. With millions unemployed and everyone else worried about their own jobs, consumer spending has fallen steeply. Lockdowns and restrictions have made it worse; bars, restaurants and many stores have been ordered to close, so they’ve made no money at all.
🗓️ 3 September 2020 – Perspectives on Economic Resilience in Displacement Settings
Join us for a talk with businesses in displacement and other stakeholders on solutions and opportunities to build resilience to future large-scale threats.
— International Trade Centre (@ITCnews) August 27, 2020
It hasn’t all been bad news, though. With so many places closed, online retailers have had their best year ever. From online grocery deliveries to Netflix, if you can sell it on the internet, people have been buying it.
Finally, many businesses were forced to switch to working remotely in a big way – and a lot of them have decided they like it. They can save on expensive office space and utilities. When the economic recovery picks up in 2021, many American businesses will be leaner, tougher and able to come back stronger than ever.
Copyright 2020, RightWing.org