Many non-essential businesses to shut down Worldwide due to the Coronavirus Pandemic.
Due to these restrictions,
many businesses suffered particularly if they had no online presence to help them trade their way through the lockdown period.
A well-documented example of this is Primark.
In April, the Financial Times reported that the fashion brand, owned by Associated British Foods, was hit hard, sales had gone from £650million per month to zero
The UK Government’s CJRS furlough scheme prevented thousands of Primark staff from losing their jobs
A recent article from Point Franchise Listed three business sectors that maximize their chances of surviving a recession.
Businesses that sell ‘essential’ goods
IT companies
Health-related businesses
Want to hire top talent for your firm? Trust Cornerstone, a Global Executive search firm in Canada.