RGV, Texas– The economic state of many businesses has been affected due to fear of the coronavirus…A local entrepreneur says what he’s noticed among his clients…Is fear.
Israel Bautista and his wife…Have owned a restaurant in Edinburg for over four years… Bautista says his business has been affected due to the COVID-19 pandemic.
“In a few days we’ve seen a drastic change in the business.Our sales have gone down..We are having difficulties purchasing our products.”
He adds that his business currently has enough stored products to continue selling food… He is unsure of his next step
“We’re waiting to see what the government decides.Whether to quarantine us or not…But everyone here seems to be ready for a quarantine.”
Bautista is also afraid of the possible increase in the cost of products. He says they will not be able to raise their prices. Another concern among businesses is the future price of petroleum, as it’s an important part of the state’s economy.
“Texas is a great developer of petroleum and gas. Especially in the western part of the state.”
The analyst also said that there is an expected decrease in demand for products and in general, a lower demand for services.
Experts recommend any business owners to review their insurance policies for the possibility of any methods that can help lower possible losses.