The coronavirus has affected the economy in ways most people – especially college students – have never seen before. In the last few weeks, many businesses have had to make changes to their establishment.
Schools, gyms, theaters, resorts and more have closed down completely across the United States.
All schools in Weakley County, including UTM, are closed for the remainder of the school year, including Maymester and summer classes. UTM will offer these classes online as they did with the spring semester.
Businesses around the country have felt the impact of COVID-19 and Martin is no exception. Fast food restaurants like Taco Bell and McDonald’s have gone to drive-thru only.
Some locally owned restaurants like The Grind Mac and Cheese Burger Bar and Sammie’s have adapted to curbside and delivery services while others such as Skyhawk Nutrition, Martin’s Coffee & Bakery and the Opera House have temporarily closed.
“The coronavirus has literally devastated our sales. We are struggling to meet our payroll and obligations,” said Mark Laderman, owner of The Grind and Sammies. “We also own Sammies and between the two restaurants, we employ about 100 people and have had to furlough about 80 of them.”
Laderman hopes to receive help from the new care laws to reinstate their furloughed employees.
COVID-19 has also increased panic that has led to the compulsive buying of supplies such as toilet paper, water, hand sanitizer, meats and cleaning supplies.
People are currently spending money at popular chain stores like Walmart and Sam’s Club because they are trying to stock up in case a shelter-in-place is mandated.
It is because of the demand and other mitigating factors that businesses have not completely shut down.
If a shelter-in-place is mandated, this will have a great effect on the economy.
The long-term impact the coronavirus will have is unknown, but it is believed that it will have a lasting effect.
