Businesses have done a great job adapting to a challenging environment this year, and many are thriving. But it’s obvious they’d be doing even more and investing more aggressively if coronavirus weren’t here. It’s created great economic uncertainty.
Now, there’s light at the end of the tunnel. As everyone knows by now, both Pfizer/BioNTech and Moderna have announced exceptionally promising early data from clinical trials of their vaccine candidates. Barring unforeseen negative surprises, it’s likely both will receive emergency authorizations, which will bring the vaccines to patients.
Many other vaccines are in late stage trials, so there are likely to be more successes. With multiple vaccines, we can expect widespread vaccinations in 2021. There’s a strong chance the pandemic will be over by the end of next year.
That’s reason for great optimism as we look forward. With the end of the pandemic in sight, businesses will spend more freely in order to position themselves for the recovery.
We still have to get through the winter, of course, and that may be tough. But there’s light at the end of the tunnel, and that’s great news.