COVID-19 is a revolutionary problem for all businesses, including space development. It appears to be God’s way of subduing space invasion by humans.
Various huge organizations are feeling the impact of the pandemic, particularly. While some businesses are busy firing, some are hiring. But one common problem for all the companies is supply chain breaking. The travel bans, lockdown, and curfews are the major hindrances for these businesses to enjoy a common objective: market penetration. All companies want to reach the central most hideous locations of their customers. All this is a means to final boast with billions of profits.
Unfortunately, smaller space businesses are going to fall. It is, however, an excellent chance to rid the space of unfit competition to mega organizations. They view it as an opportunity to buy out the good and dispose of the enemy. In a real sense, the world might be losing extraordinary tech.
Small space organizations are now under heavy pressure to yield and shutdown. For instance, it is always unwise to give loans to a sole proprietor that is unknown than to a multi-billion-dollar company that is known. The latter can sell its assets and repay the debt. Therefore for the small space organization to pick up, it might take years of blows. Thus, in addition to typical startup problems, COVID-19 is the ultimate blow to such businesses. If such a company survives the common issues, they might end up losing their best employees to others who pay well.
Startups are, therefore, businesses to introduce a product or outline a new way of doing things. For situations like the coronavirus pandemic, very few startups can strategize and survive the storm. However, no customer is ready to test a new product or new way of doing things, especially at such times.
Startups usually have a runway of at most four months before realizing profitability. During such a period, founders are always pitching every corner with fundraisings to stay up. It is unclear whether the business is going up or down. Such moments are the most significant test.
Another problem for startups is investors. They appear as though they want to risk. In the real sense, they want to invest because they perceive stability. Otherwise, they reserve their capital to cushion them in the hard times ahead. No one can risk investing at this time, especially with the COVID-19 outbreak. It is a period of maximum risk.
Thus, at the end of the pandemic, space is going to be a different place. The majority of small startups are going out. It bolts down to the idea of survival for the fittest. Those who survive are going to be proud for a while before the situation normalizes.
To survive the crisis, big programs like NASA and DoD have to shoulder the startups or minor companies so that they leave an impact. They have a package that can revolutionize the space field. The government can also quicken the paperwork for those companies with creative ideas. They can give them packages to upgrade and realize their good intentions.
Finally, it is also necessary for the government to hasten programs for small space programs. They don’t have an open ground to win, better let them try instead of sequestering them because they are small. For investors, they must identify areas with underinvestment. It is time to think in this direction. Entrepreneurs now have the power to look beyond the normal. If they come out alive, they are to give hope to everyone and lead them.