DOI: http://doi.org/10.15350/2409-7616.2020.2.29

Akhmed S. Gaisumov – Assistant at Department of Economics and economic security of industries and enterprises, Chechen State University, Grozny, Russian Federation, E-mail: Akhmed.chesu@gmail.com

Akhmed S. Isaev – Postgraduate student, Chechen State University, Grozny, Russian Federation.

Beslan M.-S. Visambiev – Postgraduate student, Chechen State University, Grozny, Russian Federation.

Abstract. The article discusses an impact of coronavirus infection on the performance of commercial organizations. Many countries have closed their borders and declared a quarantine that sufficiently influenced the world’s economy. A majority of companies have made losses due to their closure. Firstly, tourism is negatively impacted as there are restrictions on movement among countries and regions. Tourism is tightly connected to hotel and transport businesses, including air travel, that also have financial problems recently. Additionally, because of restrictions on people gathering restaurant business sector is also making losses. Furthermore, fitness centers and gyms closed and cannot make a profit. Governments initiate different programs to support affected businesses. Russia concentrates on tax support and direct subsidies to businesses. On the other hand, there are companies that adapted to pandemic situation and improve their financial indicators. Organizations that produce gauze masks, disposable clothes, antiseptic spray or other means of protection from coronavirus recently have advantages over other companies around the world. Pharmaceutical organizations and pharmacies also have made some financial gains during pandemic. Additionally, demand for food delivery services as people cannot go eat outside. Finally, technology organizations that provide network connection services including video conferencing system have increased their revenues. These services are essential for distance work and distance learning in current situation.

Keywords: coronavirus infection, businesses, economic sector, subsidies, losses.

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For citation:

Gaisumov A.S., Isaev A.S., Visambiev B.M.-S. An impact of the threat of coronavirus infection on the performance of commercial organizations. CITISE, 2020, no. 2, pp. 317-325. DOI: http://doi.org/10.15350/2409-7616.2020.2.29