From Post-Election Changes to a Possible Vaccine the Road Ahead Remains Uncertain

| Nov 15, 2020 | Business Formation & Planning |

The last weeks have brought immense change, which has left many wondering if prospects for workers and businesses may finally be looking up amidst COVID.

Initially, the most promising news has been that of a potential vaccine after positive results and announcements from Pfizer and Moderna. There are hopes that initial vaccination could begin in December with a vaccine becoming more widely available in the first half of 2021. Additionally, with the election behind us there is hope that perhaps congress can look to a new stimulus for struggling workers and businesses.

However, there is also much to remain concerned about. Despite the potential of the Pfizer vaccine, there remain issues and concerns with its distribution. For example, the vaccine will need to be stored at extreme cold temperatures and will also require two injections. There is also anxiety over whether a new stimulus will come, with many benefits set to expire at the end of the year. There is also, of course, the growing concern of the increase in COVID cases and deaths across the country.

All-in-all there have been some positive signs. After the election, aided with the Pfizer announcement, the stock market saw a record rise with hope that some sort of return to normal may be somewhat close. There have also been lower numbers of new unemployment claims compared to prior months.

The news has been mixed of late, but even with signs of hope, it is clear businesses and employees need to remain flexible and cautious, as it’s likely that current economic conditions will last for some time still.

With so much in flux, an experienced legal team can help navigate a difficult time for businesses, particularly with the ever-changing landscape for companies during the current crisis.