As a note to the community – the survey with results was sent to the admin team this morning my time.
Yesterday was the holiday Cinco De Mayo. It is not a US holiday, although many places in the US celebrate the day. It is a celebration from Mexico. One of the things that a friend of mine always does and has done for many years on the 5th of may is he sends all of us a Newsletter type email. In that email, he talks about the year that was. He like I celebrated the marriage of a daughter last year. But for him, this year has been a little tighter. His job (he does contract work. You are contracted to provide a service for some time for a company) was supposed to end the second week of February. The customer asked him to stay on two extra weeks. So he postponed another customer until March.
Except with March, the customer pushed the job off until May. (Now June). My friend, for the first time in his life, was unemployed. He is a part of the new “gig” economy as it is called. Where the person works for themselves and contracts with companies for some time. Then he moves on to the net job, and the economy keeps rolling. Except with the global lockdown, my friend is suddenly unemployed. He told, in his annual letter, the horrors of applying for unemployment. The US in January had a meager unemployment rate that has gone by to nearly 18% of the people now filing for unemployment. One of the agonies of the economic impact of a global pandemic.
That did get me thinking. I have done contract work a couple of times in my career. You make more money without a doubt when you do the gig economy. But you don’t have security. There is a security in having someone else pay you a salary or hourly rate, that when you are working for yourself, you don’t get. My friend and I had a long thread of emails last night. What we were discussing is the impact of the pandemic on small businesses. He is a small business. For him, he feels that the economy may pick up by late summer, but most likely, he will have to cut his rates to land the same gigs he has been landing for years. That reduced rate for him means less money, and there will be a direct impact on his family.
The sad reality of the pandemic is the impact on small businesses.
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Question of
Do you shop small or local businesses when possible?
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Yes
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No
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Question of
Do you know someone working in the new gig economy?
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Yes
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No
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Question of
Do you worry about the economy of where you live?
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Yes
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No
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It’s unfortunate that small business suffer the consequences during challenges. Somehow the bloated goats seem to come out on top.
it is all about the cash. Cash rich small businesses are sitting pretty right now. as are cash rich big companies. But those without cash, big and small are in the trouble.
Cryto currencies will be the way to go. Alternatively going back to the bartering system.
i will give you a big perhaps on that one. Possible and interesting but not guaranteed to be a good solution.
I hope that you didn’t tell him about this site to make money. Actually, I hear that Medium does well as a writing site.
he isn’t a writer – he designs security systems
He needs to create a security system that is connected to a thermal thermometer so that when a person goes out in public and somebody has a high fever, then it beeps to tell everyone to stay away from that person.
sadly those are already in production – but he doesn’t do physical security.
We were worried about big corp taking over all small businesses. Now it is done. What will be left of the small businesses, most will not survive. I’ve said this from the beginning, the snow ball is getting bigger with every inch it rolls, and we don’t know how tall that hill is that its coming from, shrouded in clouds as it is.
i am worried that is the end game. I know my friend is frustrated. The gig economy (your dog grooming business is another example) is good but in danger.
In my opinion, governments should also focus money on small-scale production. This will put an end to the numerous unemployment that is expected. Big companies have reserves, and some of them have not even stopped functioning. Tourism will be most affected here. This year will rely only on domestic.
they really should, i worry that economically we will be stretched very thin though. no bounce if something bad happens.
This covid 19 has shut down many small businesses in NZ especially in the tourism industry. We are soon moving into lockdown 2 now, which means we can travel our own country and small businesses, public places and shops will be open with some restrictions.
NZ has done what appears to be the most effective response by any country in the world. impressive!
The impact will be everywhere. For instance, airplanes companies, and many of them are big, are going to suffer a lot. 2020 is going to be a catastrophic year for the job market and the economies of the whole world. And It can be worse as if it is predicted, coronavirus comes back in Autumn and winter. A very sad reality.
i think big business will survive. In the US, they got a massive amount of money. What I suspect will happen – large global airlines will consolidate. Those with government backing will end up buying others.
Money exists, and will flow, the question is who in the end owns the money. Small business is going to struggle for a while.
Dentists, barbershops, hairdressers, pubs, travel agencies, were the most affected here. Recovery will not be easy at all.
i do worry about that. small business is going to take years to recover.
Q: DO YOU SHOP SMALL OR LOCAL BUSINESSES WHEN POSSIBLE?
Yes (5 votes) – 83%
No (1 votes) – 17%
Q: DO YOU KNOW SOMEONE WORKING IN THE NEW GIG ECONOMY?
Yes (4 votes) – 80%
No (1 votes) – 20%
Q: DO YOU WORRY ABOUT THE ECONOMY OF WHERE YOU LIVE?
Yes (6 votes) – 100%
the economic impact is still coming.
I’ll give you three situations here
Actually where I live only small shops are allowed to stay open all huge supermarkets are closed.
Earlier I used to write for a couple of clients, but now I have no job, they don’t have the paying power at the moment.
My plumber called me yesterday and was begging me to give him some work. This maybe true of people who do some small maintenance jobs.
we have a cleaning crew that comes twice a month. we have been paying them even though they can’t come. So many small businesses are struggling. I feel bad for all of them.
sorry about the lost writing jobs. You are a member of the gig economy then, much as several others here on Virily.
How frustrating is that for you right now?
I am okay, I have been facing this since the end of 2019 with many writing sites closing down and becoming no pay.
I don’t depend on this for my lively hood. It is mainly savings for me.
I am glad to hear you are ok. It is an interesting problem right now that the virus has exacerbated.
the ebbs and flows of the gig economy.
i worry that we will not see the end of the crisis for many, because the last part of the economy to move is that portion that is the gig economy.
In this resort town, the closest shops I have are all convenience stores. I have no car so I order online from the Publix supermarket which is too far from me to walk to.
that is the hard reality, sorry you are facing that. i wonder about places where there isn’t even a Publix for 20 or 40 miles.
With us, small businesses collapse on a daily basis …. the economy is collapsing … I don’t know who will solve it all …. this is a real disaster
it is really bad – all the way around. i am sorry it is impacting you my friend!
I was not personally affected by this because I am retired …. but I feel sorry for people who have various crafts and everything will fail and there will be many people without jobs …. the state does not help small entrepreneurs enough …… for me it is this one kind of 3rd world war ….. the chinese brought the whole world to its knees
it is a difficult situation for all right now. i agree with you, it is hard on those trying to sustain themselves selling things they have created.
Tourism is currently at 0 … but tourism employs a lot of people and now it’s all without work …. very difficult times
i am very sorry to hear that, but we are in the same boat. Tourism is at 0. Tomorrow will come, but I wonder if people will continue to be as they were.
I don’t think any thing will be the way it used to be, dear friend
i think you are right, the world is going to change again
I think so too and for the worse ….. it will be hard to get used to
i was flying every day when 0the world changed and flying became a lot harder. We will adapt!
After all, we have no choice but to find an effective vaccine … although I admit that it will be quite difficult for me
i think we will find a vaccine eventually. the economic and health impact of this virus is too great to let it stick around.
I also think that only an effective vaccine or medicine can save us from these ailments
i agree dear friend, i hope they are on the right rack for that.
The pandemic will have consequences for all businesses. The worst is really for small businesses. There are many small businesses in our country and many of these have already closed. They see no way out of this situation.
that just scares me right now. i hope the impact is not as bad as i think it will be.
I predict it will be very severe in our country. I have to admit, I’m a little scared. It is looking very bad at the moment.
i understand that fear, I feel that fear as well right now. I wrote this article because I know so many people now that are and continue to be directly impacted by this.
I also know a lot of people (among them my friends) who have small businesses. I don’t know how this is going to end. Our Experts predict a new wave of pandemics in the fall.
i have so many friends that have gone out on their own (small business) and they are all really scared right now
Those are the ones that I am afraid for.
I think this pandemic is indeed shaking up the business world, although on a different scale depending on the type of industry and its level. But indeed, the unemployment rate will greatly increase!
i worry about the impact on small businesses. Some of those don’t have deep pockets.
It’s such a tough situation in so many aspects.
it is really tough on people, business and so on. Makes me sad.
The economy is very frightening to think about. I feel for the small business owners and help out every chance I get.
Yesterday was my Dad’s birthday.
it is really scary.
That had to be hard (your dad’s birthday) anything I can do?
Thanks Doc but nothing anyone can do. Holding onto the memories.
it takes strength to keep on moving!