MONROE, La (02/27/20) — Paul Nelson, an economics professor at the University of Louisiana at Monroe says there hasn’t been a drastic decline in the business economy, but over time, delays will be seen if businesses can’t get certain products to consumers.
When the first signs of coronavirus made headlines, tourism and airline companies were among the first to be economically affected. A few months later, businesses that get items from China are slowly starting to see the impact. Nelson says it shouldn’t affect a large number of businesses.
“I don’t think you’re gonna see a widespread impact because it’s gonna affect certain companies and certain products,” said Paul Nelson, Professor of Economics at ULM.
Nelson says businesses are going to do everything they can to not have their inventory affected by the coronavirus.
“Now, these companies are scrambling to find an alternative supplier and a lot of them will be successful, and some of them will not be,” said Nelson.
Even if the virus continues to spread companies are tasked with finding a way to keep things going no matter the crisis.
“If there’s a fire in a factory, you’ve gotta work around that or if there’s a flood that cuts off a road you have to work around that,” said Nelson.
And even though the virus is bigger than a fire or flood, “This is what these businesses do all the time. They figure out ways to solve these kinds of problems,” said Nelson.