The global pandemics have always been a cause of great suffering and loss for every country

across the globe. The present coronavirus has led to the downfall of the economy by switching

all the business industries to online mode. Most of the work has been shifted online and many

individuals have to work from home while others have to wear masks and maintain social

distancing at workplaces. The digitalisation of the business world during this pandemic has led to

the increase in the online competition of providing faster, better and less costly services to the

clients. The online battle of the business industry has increased. However, there are companies

who have low budgets and they do not have the ability to provide any online facilities and

services to their clients, and are suffering great loss. They have been forced to decrease their

labour force due to low budgets, which has resulted in a large number of unemployed

individuals. The individuals who have the capabilities and facilities of working online are in

benefit while others are suffering great losses as they have no other job to do during this crucial

time. The lockdowns that have been imposed by the government have badly affected the labour

community who work on daily wages to look after and feed their families. All the countries have

suffered great loss of lives and downfall of their health, education and economic status in the

world. The currency value has fallen down and the rate of inflation has increased. The number of

jobs has decreased and the rate of unemployed individuals has increased. The underdeveloped

and developing countries both have suffered the most losses. So, it can be said that the overall

business and economy has fallen down during this pandemic, due to the unemployment of many

individuals and the inability of companies to provide online facilities.