The spread of coronavirus all over the world left national economies and businesses of all sizes counting the costs. In part, this was affected by governments who struggled to successfully implement lockdown measures in time to tackle the spread of the virus.
Though the success of the vaccination programme did help to restore business confidence to its highest level since 2018, many businesses are still feeling the lasting damage that the pandemic has caused over the past year.
During the pandemic, the majority of countries in the world ended up in a recession, according to the BBC. It is estimated that the global economy shrunk by 4.4% in 2020, the decline the worst since the Great Depression.
Source: https://www.entrepreneurshipsecret.com/how-could-your-workplace-recover-from-the-pandemic/