Principles of Business School Based Assessment (SBA)

Name: Othniel Campbell

Class: Form 5

School: May Pen High School

Teacher: Ms. Butler

Year of SBA: 2020

 Table of Content
Topic…………………………………………………………………………………3

Objective………………………………………………………………………… ….4

Background…………………………………………………………………… . . . . 5

Methodology……………………………………………………………….………...6

Presentation and Analysis of Data…………………………………………………...7-8

Conclusion……………………………………………………………………………9

Recommendation……………………………………………………………………..10

References…………………………………………………………………………….11

Topic
 The impact of the corona virus on small businesses in Jamaica

Objectives
 What’s the impact of the corona pandemic on small businesses in Jamaica?
 What can small businesses do when faced with a pandemic like this?
 Background
This is the impact of the corona virus on small businesses, The outbreak started in China until it

became a worldwide crisis. Several small business owners stated that their businesses have
slowed down or has come to a stop by the recent outbreak of the virus. Some owners said it

actually increased profits for them; others said that they had to reduce working hours and laying

off some of their employees. Most of the business owners I talked to said that even after the virus

has passed their business will still be feeling effects .this is a lesson for all business owners to

invest in strategic, operational and financial resilience to global pandemics so they will be in a

better position to respond and recover from crisis like this. This virus has had a great impact on

Jamaica, the tourism sector is completely shut down; numerous amounts of people are without a

job and it just seems to be getting worse with each day that passes. The virus had also affected

the taxi drivers to some extent; it also affected the entertainment sector.

Methodology
In order to collect the appropriate data needed I conducted several Interviews with small

business owners and observing the trends in businesses based on government and newspaper

releases. This research was conducted during the month of April 2020.

Presentation and Analysis of Data

The Pie chart below shows how many of the business owners were affected by the corona virus

Affected-95%
Not Sure
Not Affected
N/A

The chart shows that majority of the business owners were affected and a very small amount said

they were not affected.

A profit will be indicated by a+ and a loss by a-

Businesses Month Month Month

 February March April
Profits/Losses 0 0 0
Triple T Traders +$30,000 +$10,000 -$14,000
A&B Restaurant +$45,000 +$10,000 -5,000
Car Rentals LTD +$35,000 +$8,000 -6,000
Mary’s Fish and Chips +$80,000 +$35,000 -$24,000
Tso Health care +$30,000 +$80,000 120,000
products

The Table above shows that in February the regular profits of each of the businesses. In March
the businesses saw a decline in profits most of the business owners started to worry around these
times. In April there was a sort of panic as businesses were starting to see losses. Some business
owners begun to lay off workers in order to minimize losses while other businesses shut down
completely to a stop.

Conclusion
In the early developments of the virus it did not have a great impact on businesses. As it

progressed business owners became aware of its presence and governments started to implement

laws and regulations to prevent the spread, as the weeks went by they started seeing a decline in

profits or complete disappearance of profit. Businesses owners who operate health care

businesses including Doctors’ offices, Pharmacies, health food stores etc. saw a very high

increase in profits.

It goes to show that we as a people were not ready for a problem like this With this knowledge

it’s imperative that businesses use this as an opportunity to re-examine and implement strategies

to deal with future pandemics like these. This can be done by implementing financial and

operational strategies.

Recommendation
 Business owners should try to keep their losses to a minimum and practice the health

laws and regulation set in place by the government.

 Business owners should learn from this pandemic and put strategies in place in the case

of another global pandemic.

References
Loopjamaica.com

Hands in Clay Jamaica Ltd

Jamaica Gleaner