So, my musings on economics continue.
I am in the process of trying to move my business model from bricks and mortar to online plus outside events due to the way retail has dropped off in the last year in our town anyway. Obviously as a one woman band and also caring for my Mum this has turned into a long slow process.
Some industries that are already virtual - for example the financial sector - will be able to facilitate working from home without too much disruption.
Businesses relying on a customer facing model who have to change that for CV purposes may have a whole bunch of people who will be on ZHC or not eligible for state support - this includes the self employed - who may have to stay at home.
If people are without income a logical step will be to start trying to work online - widget selling being the top priority - trying to offload surplus possessions and the like - so online sites like ebay and similar may see a surge in use.
However, shopping for "unnecessary" items, even online will become less of a priority than essential bills and day to day practical concerns, and if we all have an eye on a precarious financial situation, this may be futile.
In addition, if countries are implementing travel / export restrictions, then the global market shrinks - in addition, delivery chains may come under extra pressure locally and may suffer shortages of staff on the ground as the virus spreads, meaning that even if you can supply, there is a demand and you can fill it, external forces may prevent the movement of goods.
It really does seem as if there is no easy route out of financial trouble both on a personal level and globally.
And it really pains me to be thinking about these things because in the grand scheme of things, much as I love my velvet collection, shopping is the last thing on my mind and the fact that I feel I have to make room for such considerations alongside my dying Mum and my MIL in residential care etc etc feels offensive and leaves a bad taste in my mouth. I'm usually fairly pragmatic but with everything feeling so unstable, it's so damn hard to try and formulate any sort of long term practical strategy, not to feather my nest, but just to keep the twigs together.
Any other small business owners feeling similar?