Covid-19 has taken almost every business by Storm and whilst there are many worrying newspaper articles predicating one of the greatest recessions in history some businesses are seeing business boom. The most vulnerable sectors and the hardest hit by the Covid-19 lock down are tourism including airlines, hotels and bed and breakfasts with the retail sector also taking a hammering. There is now talk of pubs and restaurants not being open for another 6 months so many small businesses will go under in this period as these are fragile businesses that reliable on cash flow to stay afloat.
It is predicted over 50% of pubs will have to close if the lock down goes on another few months. Whilst the virus is of course dangerous, the fallout from this economic meltdown could be much worse but only time will tell. Some businesses and sectors are seeing an increase so that is a bit of positive news. The health sector is of course in huge demand any many businesses have moved from other sectors to get a piece of market share.
For example some car manufacturers are now making ventilators of course to fill the need for them but let’s not forget that they are in business to make money also. Another market that is doing well is the home fitness equipment niche. With gyms also locked down many people were racing to get their fitness equipment online. Items like dumbbells pull up bars and weights benches were quickly selling out on many online stores. Some stores even increased prices as the demand was so high. Review websites like mestech.ie have since been popping up to help fill the void in the home gym equipment niche. There are other sectors like the more obvious ones such as hand sanitiser and face mask websites also popping up around the web.