Coronavirus: What You Need to Know
Coronavirus: What You Need to Know
The coronavirus, or COVID-19, has had major effect on over 100 countries so far. Folks can’t turn on the television or go online without continuous coverage of the enormity of this problem. The pandemic is sweeping the United States, and this might just be the tip of the iceberg. There is a lot of fear, uncertainty, and anxiety as it relates to what is evolving into the biggest global outbreak in many of our lifetimes. As we navigate this new world of unstable markets and self-quarantine, we at ARF Financial want to help our small business partners prepare for what’s to come.
Who it Affects?
Coronavirus knows no age range. As reported in JAMA, the median age of those affected is people in their 50s, with slightly more men being infected than women. The New York Times has been conducting extensive reporting on the pandemic, noting that COVID-19 has made 166,000 people fall ill globally; 6,302 have died; and the virus has hit at least 133 countries. At writing, 42 people have died in the United States from COVID-19.
People of all ages can have COVID-19 and never show symptoms, but that doesn’t stop them from spreading it to populations who may become ill. Data from China show that 14.8 percent of infected patients aged 80 and older died from the virus. On the other hand, a recent New York Times article chronicles the lives of two Chinese doctors treating COVID-19 patients in China. Both women were 29 years old, and one of them eventually passed away due to the virus. While we may not want to hear it, it goes without saying: no one appears to be safe from this unprecedented global health crisis.
Impact on Entertainment
For the moment, we can’t seek refuge in the entertainment industry—at least not live shows, or anything that involves a gathering of more than 50 people (think music festivals, weddings, parades, concerts, and the like). The CDC is now recommending these types of gatherings be avoided for the next eight weeks.
Right as March Madness was about to take center court, all NCAA and NBA games have been canceled. And what of the Olympic games set to take place in Tokyo this July? Officials insist they will go on as planned, however the narrative could change drastically if the International Olympic Committee (IOC) decides against their continuation.
Coachella, the giant music festival that is hosted in California over 10 days, has been postponed until October 2020. South by Southwest is a music, media, and film conference that has been canceled for the year. All Broadway shows in New York City are dark until April 12, and many movie production companies—including Sony, Paramount, Disney, and Universal—have delayed releasing feature films. Check out CBSNews.com for more in-depth listings of sporting and entertainment events affected by the pandemic.
How Consumers are Preparing
We’re all affected by the coronavirus, whether we fall ill or not. Restrictions on travel, school closings, and businesses temporarily shuttered have all forced us to stay inside, becoming intimately familiar with old home movies and board games. That being said, your business—should you choose to remain open—needs to take the proper precautions to stay safe as well. Check out these 3 tips:
- Everything. Work areas, menus, tables, and more should all be disinfected constantly. The CDC recommends wearing gloves while sanitizing. Clorox and Lysol are powerhouse cleaning products that’ll get the job done killing the coronavirus. And Lysol is especially effective for fabrics, such as carpeting or booth cushions. Another novel idea? Offer hand sanitizer or wipes to customers as soon as they walk in and leave a canister of disinfecting wipes on your counters and tables for anyone to use.
- Revise your menus. Keep them to one page, listing out all the necessary information a guest would want. Why? This simple measure allows diners to view your dishes without having to touch/flip through the pages of a menu, which offers them greater reassurance.
- Make room. This is as simple as taking away a few tables to allow more space between them. Guests hate feeling like they’re on top of each other anyway; but at this time of heightened social anxiety, it’s worth it to do some rearranging.
Stay Smart to Stay Successful
We recently read over at Restaurant Business that 32% of survey respondents said they were going to dine out less often because of coronavirus fears. This isn’t surprising, but it does hit home—and the pocketbook. To stay successful in the age of the coronavirus, business owners must face the problem head on. This includes having uncomfortable conversations, accepting that we’ll be seeing fewer customers, and acknowledging the inevitable: less revenue. However, with the preparations listed above and the support of ARF Financial, we will make it. We urge our clients and employees to stay safe and adhere to any CDC recommendations that are presented. If we take the proper precautions, we’re all hopeful we’ll overcome this health emergency sooner rather than later.
Coronavirus: What You Need to Know