The Business Impact of Coronavirus Businesses around the world are bracing for the impact of coronavirus.COVID-19, the novel coronavirus that made headlines in early 2020, has spread around the globe.In the United States, multiple cases and deaths have been reported.

As cases increases, businesses must prepare for the possibility of an outbreak.Business Interruption Issues In China, large-scale quarantines have impacted many companies with operations in the country.According to CNBC, Disney and Tesla were among the businesses that temporarily suspended operations in China due to the coronavirus, while mandatory factory shutdowns impacted Walmart and other companies.  Business Insider reports that many fast-food chains and retailers in and around Wuhan, the center of the outbreak, closed temporarily.

In Italy, an outbreak caused authorities to put 12 towns in lockdown, according to Business Insider.The full impact on the economy and tourism remains to be seen.In the United States, a Seattle-area nursing home appears to be at the center of an outbreak.

According to CNN, at least 50 residents and staff have reported symptoms.On the other side of the country, ABC7 NY reports that four New York schools have closed over coronavirus.Businesses may be forced to close temporarily in response to a local outbreak.

Businesses may also suffer from staffing shortages if workers have to stay home because they are sick or caring for someone who is.Customers may also decide to avoid certain venues to avoid getting stick or because they are already sick.Catching coronavirus at work is unlikely to be a compensable workers’ compensation claim.

According to Insurance Journal, an illness must be occupational and arise out of conditions peculiar to the work to be eligible for workers’ compensation coverage.  However, some exceptional situations may exist.   Best Practices for Coronavirus Safety Businesses can and should take steps to avoid contributing to the spread of COVD-19.