Blog 04.03.2020

How coronavirus influence on Polish and abroad economy?

Poland seems to be free from coronavirus for a longer time. Today we were informed that the first coronavirus case was confirmed in Zielona Góra. We have been preparing for weeks, but does Polish entrepreneurs are ready to fight with?

Huge unknown

Among European countries the worst situation is definitely in Italy, but we still don’t know what will happen in Poland. We may supposing, that 1 confirmed case is like top of a mountain, and infected people might be much more. New law introduced in the last days may help us in fight with epidemic, but entrepreneurs started calculate loses.

Global economy

Huge amount of polish companies is dependant to China’s production. It’s not only because of automotive trade, but amount of trading companies that sell finished Chinese products or whose production depends on Asian parts. In practice it not only means difficulties or stopping production or functioning company but also huge penalty because of failure. Our economy is hugely dependant on other countries situation. It is like puzzle, if we don’t have one element we will not complete the task.

Prime minister recommendation

New government’s laws made, that the entrepreneurs situation is becoming more and more unestablished. Government may command to close companies because of epidemy. For many companies it may mean the end of activity. There are also worries about abuse of. Furthermore employers became obligated to allow staff to remote work, but how many professions have such a possibility and possibility keep company in a good condition? 

Coronavirus towards economy

Stock market drops, empty stores shelves and problems with production in the sector dependent on China offers for the coming crisis. Let’s remember, however, that after the bear market is the bull market, although sometimes you have to wait a bit for it. Traders are now recording quite a lot of turnover, because Poles make food supplies, medicines and antimicrobials. It means bigger earnings, but also a decrease in sales at a time when consumers use the services of buying previously purchased products. If we take the standard upwards, we need to take into account the period of time, then we can use that the result does not deviate from the norms.

Are we currently predicting the long-term effects of the coronavirus epidemic? As a matter of fact not. It all depends on how many people will get sick not only in Poland but all over the world. From this dependent, use deficits in employees and products that on a global scale intersect and connect with each other to a different extent. The hope remains that the government will not have to use the powers of the new law excessively and that Polish entrepreneurs will deal with this transitional approach.

Prevention, not panic

It does not matter if we are small or big entrepreneur, blue-collar or white collar employee, child or old one – the most important is listen to reason and prevention activities. Avoid big population centers, reduce personal contacts (e.g. shaking hand), care about hygienic and carefully clean your hands, reduce abroad travels to minimum. If you think you are infected, go to the isolation ward or call emergency service. Practical wisdom will be the best solution not only in fight with coronavirus, but also in minimize of loss and rescue modern economy.

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