Whilst Governments around the world are still focused on containment and quarantine of populations the increasing burden on the global economy is now becoming a very real threat to a worldwide recession.
In the same way I'm no health expert neither am I an economic expert.
However I do have many years international business experience, particularly in the transformation space. Whilst governments are focused on the immediate priorities of managing the respective health systems they are also having to keep a very close fiscal eye on what could be an economic collapse.
As we all see it the next biggest challenge in this crisis is when and how countries can lower the 'lockdown' restrictions in order to get people back in some way shape or form to work.
What no country can afford to do is ease those restrictions unilaterally otherwise the pandemic will simply kick start again. Without a doubt this now has to be at the front of countries focus and priority, but it does have several challenges particularly as many people simply can't just work from home.
Speak to any consultant or freelancer and they will tell you that this new phenomenon of 'working from home' has been how we've operated for many years.
Long before this crisis we've been the people who have utilised social media to help remain front of mind, grow our business network and showcase our 'Why' and for many we do this without spending funds on advertising.
As business attempts to keep ticking over they will no longer have the luxury of those huge marketing and advertising budgets they were so liberal with pre-Covid. They might also have to reinvent the business model that will include more people working from home as such they will need to invest in training those people how they can leverage social media for something other than intrusive advertising if they still want to remain front of mind ahead of a competitor.
Zoom has proved to be a great video conferencing technology for business and government to communicate internally. We've also seen several industry event and seminars use video conferencing. At one time attending these events would have incurred related cost for travel and time away from the office being used to communicate with existing clients, customers and employees.
I'm sure that once we can get back to being able to move freely some of these events will return, but, what do you do about cultivating business relationships that can help you to win new business NOW?
There are several technology companies looking to provide help to the health services with geolocation solutions to advise you if you have just come into contact with someone who has either had the virus or is still contagious.
Whilst this is a useful use of your personal data via your mobile it's very much a reactive approach as an untested person with the virus can remain undetected without symptoms for up to 14 days.
So, what's needed is something that's focused on 'proactive' advice and validation for returning back into society
All I can say at this stage is 'watch this space'.
The estimates have an average of -14%. However they range from JP Morgan's calculation that UK GDP in the April-June quarter will come in at -7.5% - a sharp contraction - to Capital Economics' forecast of -24% - suggesting nearly a quarter of entire economic activity will be lost.