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Family businesses: Time to stand up

Taking care of people and communities in times of crisis can offer a brand or company many long-term benefits

Topics
Lockdown | Coronavirus | public health

Nupur Pavan Bang & Nandil Bhatia 



Nupur Pavan Bang & Nandil Bhatia

The likely impact of the spread of in a densely populated country like India has sent the country into an unprecedented state of . The economy was in the doldrums even before the virus struck. As things stand, the financial markets have been hit hard: The BSE Sensex has fallen close to 38 per cent from its peak of 41,952 points on January 14 to 26,055 points on March 24 eroding billions of dollars in investor wealth. Most “casual” workers, who form a third of India’s workforce, are forced to sit at home with no income. Domestic demand of most products and services, except essential items, has crashed. Self-employed people, who comprise half of India’s workforce, suddenly find their shops shut. Many of these small business owners will find it difficult to tide over the next few months when the demand will likely pick up.

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First Published: Tue, March 31 2020. 22:55 IST

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