The novel coronavirus that causes COVID-19 has affected our world more than most people imagined at the beginning of 2020. Businesses and, indeed, the economy of every nation has been brought to their knees. Besides individuals and family units, small businesses are the worst hit, and the hope of recovery is becoming thinner by the day.
Everyone wants to get back to normal. From individuals to corporate bodies and even government, the desire to return to normal life is growing by the day. Some small business owners are pushing for a more relaxed approach to handling the pandemic. But will that return things to normalcy?
As far as we can tell, it will be a long time before things go back to normal. Like all pandemics, the COVID-19 menace will be history one day. Even when the fight against the virus is won, will things get back to normal right away? That is a lot to ask for. The economy has been affected in ways many of us cannot fully understand at the moment. It will take time for things to get back to normal.
To get a better idea of when and how we can all go back to normal life, we will briefly discuss a few possible timelines:
It is unlikely that governments will wait until the end of the pandemic before relaxing regulations. Local authorities will relax the rules a bit to make life easier for the populace. This will start in a matter of weeks, but will not get us back to normal life.
The End of the Pandemic
It may take a long while to find the solution to SARS Cov-2 and the pandemic it has caused. It may come in the form of a cure or a safe vaccine. When this happens, it will mark the beginning of the real return to normal life.
A Partial Bounce Back
Once the COVID-19 pandemic has been arrested, there will be some sort of partial bounce back for businesses. The society will reopen slowly, and we may record a lot of hiring, spending, and investment. Economic recovery will be ignited, but it wouldn’t get us back to normal life.
Slow Return to Normalcy
It will be a long walk to normal life after the initial improvement that will be recorded at the end of the pandemic. Unemployment will improve slowly, and wages will take longer to get back to the level we had before the outbreak.
It is difficult to predict when we will all go back to normal life. The economy has been shaken beyond what we anticipated, and people have lost loved ones, financial opportunities, and many more. It will take time for everyone to heal and get back to normal life, but the economic timeline above cannot be ruled out.
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