Assessments of Covid 19’s Consequences on Business Activities the Case of East Wollega Zone –Oromia Regional State: The Current Status and Future Prospective

Abstract

The experience from previous crises, particularly from the Ebola virus disease outbreak in West Africa in 2014, has indicated the significant impact of movement restrictions and disease containment efforts on food production and access, and the importance of maintaining and up scaling humanitarian food security interventions for the most vulnerable populations, alongside the health sector’s efforts to avert disease spread.  Similarly, the sudden economic disruption caused by COVID-19 is not only destructive but also has spillover implications because it created demand and supply shocks in almost every area of human endeavor. The economic pain became severe as people were enforced to stay at home, and the severity was felt in various sectors of the economy with travel bans affecting each and every activity of the people in generalThe state of emergency has imposed different restrictions and measures on people activities and travels. Public and private transportation services in urban and rural areas are enforced to reduce the number of passengers by half. This travel ban slowdowns the economic and social interaction among people which may will result in dramatic liquidity crisis followed by economic depression. This is the current consequence of Covid-19 outbreak. In order to achieve the stated objective the descriptive research design was employed. Many people and families have suffered and will suffer from the unexpected losses around the world.  It will have profound consequences on the world’s business operations, social, political environments and on its economy in general. Particularly, in addition to the political instability, the Covid 19 pandemic severely affects Wollega zones of Oromia. Because of the current consequences the business operations and the daily activities of the society were diminishing. The zone officials must strike a balance between the need to keep the business transactions going and the need to protect the populations from this current pandemic.  Hence, the zone officials or any concerned body should review their activities towards protecting the Covid 19 pandemic to create a favorable environment to continue flows of essential transactions.

Keywords: Covid 19, Consequences, Business activities and Economic

DOI: 10.7176/EJBM/12-35-03

Publication date: December 31^st 2020