In this pandemic, while everyone is grieving economically and socially although several also suffer from health too that are affected by COVID all over the world where the distress ratio varies. However governmental bodies deliver relief funds to almost every sector in industries specifically micro, small and medium industries.
Due to instant shut down of market engulf many of businessmen in the depressed valley of loan burden, immensely hard for survival with family become such hard especially for the labor who don’t have any kind of savings which enforce migrators to came back to their native land in misery condition. Some of them even lost their lives in the exhausting journey toward their native land.
If we look at the business conditions, promptly and unknowingly shut down for an unknown period confound the small and micro business as they took enormous loans for business and home, electricity consumption bills, employee salaries, etc these trials are stimulus even in no earnings. Due to overburden numerous companies entirely vanished in the lockdown session.
Additionally, digitalization and e-commerce by marketer provide immense support to those who manage them and may attain gain from these resources even in lockdown as some micro and small businesses continue their work through social and digital media. Businesses embrace advanced technology and leverage their resiliency endeavor themself for sustaining in the COVID period. But for those who were untouched to harness technology suffers undescribed pain areas which disastrously affect like hospitality and tourism sector, food and beverages, automobile sector, electronic appliances and gadgets including particularly agro-industry.
However, government authorities provide a supporting hand to pave from the devastating pandemic crisis through tax exemptions, cheap rates, and subordinate debt facilities along with distinctive trains for migrators. All these measures are taken for offering relief from the pandemic crisis and support in lockdown overwhelming situations. Enormous uphill battle prerequisite to suppress the worst impact raised by COVID 19 on small and medium businesses.