The coronavirus pandemic has put the entire world on the brink of a financial crisis – the worst one in the decade. New realities hammer small and medium-sized businesses the hardest. Their owners have faced supply disruptions, delivery delays, a noticeable drop in consumer demand, and, of course, massive layoffs or forced quarantines.

In July, no one expects profits – most companies are thinking about how to survive and stay afloat. Therefore, today, mutual assistance is more important than ever. For example, marketing service platforms rushed to the aid of online stores – they organize anti-crisis actions, significantly reduce the cost of their services or offer them on very favorable terms. After all, only thanks to mutual support, people will be able to get out of the pandemic with the least losses.

It is not easy either for students who are forced to study at home in conditions of quarantine. To ease the workload and pressure a little now, young people can turn to this website for specialized and high-quality help and make their learning easier.

How do California Businesses Deal With the COVID-19 Pandemic?

At the end of last year, 2019, China faced an outbreak of coronavirus infection, which was given the name COVID-19. Subsequently, this virus has spread throughout the world and has had an impact so far in 213 countries. In total, almost 14 million people got this disease, of which about 8 million fully regained their health and almost 600,000 patients deceased.

Coronavirus infection has not spared the United States, in particular the state of California. All the population of the world is at risk. What is happening here in the conditions of world quarantine? To begin with, it is worth noting that things were not very good even before the start of the pandemic, and there are no significant grounds that the situation will soon change for the better.

Small local business owners in the California state, especially in poorer areas, face serious difficulties and, if they have not yet closed their offices/premises, are on the verge of ruin.

These small businesses were already in poor shape before COVID-19. Despite the fact that Silicon Valley is a place of generating significant cash resources, due to the availability of luxury real estate and VIP entertainment, 80% of jobs in the state are low-paid and, accordingly, generate low income in the form of taxes.

What does The Government Do?

Authoritative research resources warn about an impending catastrophe. Analysts insist that California and the United States as a whole will suffer the most severe losses since the Great Depression. According to forecasts, about 5 million workers will be fired. First of all – in the spheres of tourism and services, which were paralyzed due to quarantine and advice to social distance.

Obviously, without the help of the government, the business cannot cope with the current situation. Therefore, the US ministry launched its business support planning:

• The US Senate has dispensed two trillion dollars (equal to 10% of US GDP) to support the economy during the crisis. 
• Small enterprises with fewer than 500 employees can apply for a subsidy of up to $10 million in salary and rent payments. In total, to help small entrepreneurs, the American authorities ensure to give $350 billion. 
• The Donald Trump administration has approved a 90-day deferral of tax payments plan. It will affect the income of individuals with up to a million and companies – up to $10 million.

What Does the Future Hold for California Businessmen?

Social distancing policies have borne fruit, and California’s death rates from COVID-19 are much lower than states in the north-east. At the same time, business owners in the sunny state declare colossal losses. Thus, about 90% of enterprises were seriously influenced, and a good half of them had revenues fell by more than 50%.

The situation is especially bad in Los Angeles, where less than half of the population now works. Los Angeles County has lost over 1 million jobs due to the coronavirus pandemic. The overall public unemployment rate is higher here than in any other major metropolitan area in California.

The experts say that overcoming the economic impact of the COVID-19 pandemic will be extremely difficult, and the government should create a system to seriously approach this issue of critical importance.

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