Question

How did COVID-19 pandemic impact on personal business finance?

Answer 1

Covid-19 pandemic has severe impact on the personal business Finance as-

A. it has impacted the overall level of savings of the individual to a large extent as there has been a change in the level of uncertainty.

B. It has also impacted the employment status of various individuals as this has led to loss of employment at a large scale.

C. This has also impacted the overall level of medical expenses of various individuals and it is leading to low amount of savings.

D. the tendency of investment has also been impacted to large extent because individuals are ploughing out their money of the stock market as they are sceptical of the downside movement.

E. individuals have also started to default upon their loans because they are not left with employment.

F. It is leading to a environment of high uncertainty in which the income has gone down and expenditures as gone up as well as there is high degree of consumption of emergency funding.

Hence, covid-19 had impacted the personal Business Finance to a large extent and cut down the overall savings of the individuals.