The COVID-19 crisis sabotaged the global economy and brought the superpowers to their knees.
Businesses have been floundering and trying out different means to stay afloat in the midst of the crisis. While some have been able to survive and absorb the shock, many have not.
Now, with newer and mutated strains of the coronavirus at large, pressures on the economy are mounting. That being said, we shall now look into the scenario of Manchester’s businesses and see how they are adapting to the new normal.
Businesses across several verticals, like hospitality, entertainment, restaurants, sports and various others have gone remote in an attempt to flatten the curve as well as survive the challenging times.
The UK government had lifted the restrictions for a while, and this allowed people to enjoy themselves, and for businesses to make revenue. However, a mutated strain of the coronavirus is wreaking havoc on the country.
Therefore, businesses will once again have to go through an ordeal and try to adjust to the new normal all over again. Therefore, without any further ado, let us delve right into the scenario of the businesses in Manchester.
Shut down of businesses in Manchester:
According to a recent survey report, about 18 per cent of the jobs in Greater Manchester have shut down for an indefinite period of time. And now, with the possibility of a second wave of the COVID-19 crisis, this figure is only assumed to go up.
The CEO of The Growth Company said that most of the businesses in Manchester had to deal with the unavailability of more than 20% of their workforce during the lockdown. This resulted in massive losses and even led to the shutting down of several businesses.
However, amidst all the negativity and hopelessness, one thing that has come as a welcome relief is that the big businesses in Manchester have extended their support to the smaller companies. They have supported the businesses with helpful resources and sponsorship to help them stay afloat and make it through the hard times.
The shift towards the use of technology to make it through the crisis:
Most businesses, all around the world, have started resorting to cutting-edge technology to make it through the period of crisis. As mentioned earlier, more than 20% of Manchester’s workforce was not available during the lockdown. This put the businesses at a precarious condition. Therefore, the only saving grace at such times was technology.
More and more businesses in Manchester have made a move towards Artificial Intelligence and Machine Learning to see their way through the pandemic. These innovations of technology make it possible to reduce the need for human labour and handle the work pressure better. Artificial Intelligence has seen magnanimous growth in all types of industries. From online casinos and safest poker sites accepting US players to the sector of hospitality and tourism, AI has made the tough times easier.
Local businesses in Manchester have resorted to the use of social media more than ever in these hours of crisis. Local and small-scale businesses do not have funds similar to the big businesses to absorb the shock. Therefore, their need for social media is more than the other bigger businesses. Studies have hinted that small-scale businesses in Manchester have made greater use of social media platforms to reach out to more clients and customers.
It has also been observed that communities that have robust local businesses are eco-friendlier, sustainable and economically wholesome. Therefore, it is important for them to thrive even during the pandemic. And Manchester’s small-scale and local businesses have used the weapon of social media to cross the hurdles.
It is true that the scene in Manchester looks worrisome – now more than ever – with the new strain of Coronavirus at large. However, businesses have changed their core values and reworked on their dynamics to stay put amidst the hullaballoo.
That said, while some have been able to see their ways through the crisis, some have not. However, the fight against this invisible and seemingly invincible force of nature is still on, and Manchester is doing a wonderful job at that. It is now only a wait of time to see how the second phase of lockdown, if levied upon, works out for the businesses in Manchester.