The Impact of Coronavirus on the Business Sectors Worldwide
The outbreak of the coronavirus in late 2019 and 2020 has been declared a global emergency by the World Health Organisation. The entire world is facing a threat to the global fortunes through the recently emerged virus affecting the human body. Most economists assume that a worldwide recession is already underway, a synchronized downturn that is punishing countries indiscriminately, turning traditional economic strengths into alarming vulnerabilities.
The repercussions of Covid-19 or Coronavirus are severe on various sectors, domestic and international businesses across nations. Besides tragic human loss and health crisis, this global pandemic is having and will continue making a huge economic impact. It is causing major disruptions in the global businesses. Many are facing direct commercial impact on certain specific sectors, difficulty in the supply chains, difficulty in performing contractual obligations and funding arrangements. There are other universal problems like ensuring the health and safety of the employees and others in the workplace, restrictions in travel is another major problem affecting the people, organisations and businesses globally, complications in increased record keeping, protection of sensitive and personal data, and planning with regard to continuation of the business. We understand requirement may arise in this situation for a deliberate, planned and cross – jurisdictional advice from experts who can put their efforts to make it easier for you to respond quickly to deal with the emerging crisis.
One thing which has become quite certain and clear now is that the pandemic will bring disruptions, obstruction, disturbance and delay in the various sectors, therefore businesses and commercial services require a legal team to guide them through the crisis- Vidma Consulting Group has the national and international reach, skill, expertise and the knowledge to answer that call.
While the primary focus of the businesses in the times of Corona and in its aftermath will be to ensure the health of their staff but if we see the other side of it, businesses are facing huge loss, large number of challenges which is to be addressed and mitigated.
The legal implications of Covid – 19 are varied and complex. The present situation will impact the commercial sector, the corporate sector, large employment crisis and the regulatory areas. The time is difficult and we hope all of you around stay safe and could come out of the present crisis.
Hence, it is important to provide you with insights that can help you mitigate the risks posed by the Coronavirus. Hence, we will bring to you the practical considerations, the critical questions coming across the various jurisdictions to advice our clients and several business organisations to manage and mitigate their risks.
How can our lawyers help you ?
Vidma Consulting Group will be there to provide you regular legal updates on a variety of issues that affects our clients and businesses across the world since the long term impacts of the present situation requires strategic planning and proper analysis.
We can help you in identifying the risks, suggesting you better options and discussing a variety of legal remedies as well as insights will be provided on the government measures taken to tackle the issue, giving you an understanding from an industrial perspective, considering supply network, regulatory and competitive challenges, thereby helping you to plan your response and lessen the threat of disputes.