This article aims to examine how the COVID-19 pandemic has affected global economic activities, with a particular focus on start-up businesses. The article aims to highlight the challenges that start-ups are facing due to the pandemic and the measures they are taking to remain productive and visible in the marketplace. Additionally, the article also sheds light on how the pandemic has worsened existing economic vulnerabilities and increased economic inequalities.
- The COVID-19 pandemic has profoundly impacted the global economy, affecting nearly every sector of the economy, with prolonged lockdowns leading to increased risk of bankruptcy and unemployment.
- The pandemic has exposed the fragility of specific economic systems, and it has exacerbated existing economic vulnerabilities in low-income countries, highlighting the need for a more resilient and equitable global economic system.
- To mitigate the effects of the crisis and promote recovery, businesses need to adopt new strategies that can support them, such as investing in digital infrastructure, developing new business models, and realigning their strategies, operations, and customer value propositions.