1945

Lockdown: The impact on small businesses

While the discussion on reducing the economic consequences of the COVID-19 pandemic response often focuses on macroeconomics, a decades-old observation by renowned economist Paul Krugman comes to mind: ‘Countries do not buy or sell goods overseas; companies do.’34 The pandemic-induced slowdown first and foremost affects the real economy, made up of businesses and the people who work for them.

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