What’s the impact of Coronavirus on the State of Entrepreneurship?
With the thousands Would you be interested in speaking with the founder of The Shadow CEO and startup expert Athan Slotkin on how the top five negative implications coronavirus will have on entrepreneurship as well as two possible benefits it could have? of deaths from the coronavirus and the virus moving into countries from all points of the globe, adapting new companies to the realities and negative impacts from coronavirus can be challenging. The possibility of this growing into a pandemic is real and the possible ramifications it can have entrepreneurship and gig economy as a whole could be devastating.
The Shadow CEO Athan Slotkin hears these growing concerns on a daily basis as he’s helped thousands of people with amazing ideas quickly adapt to creating a viable startup. He experiences these growing concerns founders have when considering to create a new startup or existing startups looking to expand in time of concern and uncertainty.
Through his 16 years of experience Athan pinpoints the top 5 negative impacts coronavirus will have on entrepreneurship:
-
Grounding of travel = the implications this will have on being able to to pitch new business and conduct meetings
-
Decline of aviation industry = The impact this will have on travel and will result in less travel-centric startups
-
Coronavirus will severely impact on supply chain making it harder to mobilize logistics (even for existing businesses)
-
Coronavirus will continue to have a negative impact on people’s saving from the stock market declining plus growing uncertainty. This will cause the unfortunate result of risk aversion to taking a risk creating a new business
-
General loss of focus (people genuinely focusing attention on this – mindshare that could be used on building a business/something more productive)
While it may vastly hurt entrepreneurship here are three positive areas this virus can actually help new entrepreneurs
-
Less travel could create more possible time to focus on creating a business
-
Save costs on overhead by building a remote workforce
-
Rise of reactive businesses = sanitary solutions/treatments for coronavirus, logistics (delivery) companies supporting overdemand of Amazon (excess demand that Amazon cannot fulfill), etc
