Startup And Digitalisation Outlook In Post-Pandemic Pakistan

Publication Year : 2021

Last year’s global outbreak of the coronavirus changed the way businesses around the world operate. It was challenging for startups and small businesses that rely on human interaction for operational sustainability. But, with no choice, the world adopted the digital way of working and living. The new way of working enormously affected startups and small businesses worldwide, and many had to halt their operations, implement pay cuts, or even let staff go. The World Health Organisation reported that 196 out of 251 countries were severely affected by Covid-19, making up 80% of the world’s population. While 10% of the world’s intermediate goods trade originates from China, it reported a 17.2% decline in exports with a grim outlook on the future with the pandemic outbreak. These declines and delays in exports from China resulted in production and manufacturing disasters in countries worldwide that depend on Chinese trade. Considering the uncertainties faced by factories globally because of the shortage of parts and raw materials, the need for digitalisation in the modern way of doing business became even more apparent.