Over the past two years of getting knocked down by the renowned virus COVID-19, we have been steadily getting back to our own feet by allowing the restrictions that caused us into isolation be lessened day by day. Local businesses opening up and allowing customers to come in, mask restrictions being less strict, travel restrictions are becoming uplifted and people receiving vaccines to receive a sort of security in safety has been happening in order for growth to happen within economics. However, there have been new variants of the virus like Delta, and recently Omicron.
According to Josh Mitchell and Paul Hannon from the Wall Street Journal, they claimed that this new variant would bring a slight hinderance to global economics, but not impact it so much that it would push back the progress that has already been made. However, because of the new variant I believe that it will create a little set back for local businesses especially local shops that sells and relies on imported goods.
Speaking from personal experience my family owns a filipino bakery and oriental store and it has been tough to get the certain goods that we usually sell due to the shortage of imported goods from Asia and the prices are being raised up to ridiculous prices because of the impact of COVID. Imported goods from over seas begin to be restricted to monitor the contagion to not create even more fear. There had also been a shortage for vanilla extract from the restaurant department store that we go to that it had became rare to find a whole gallon worth.
So I can see that the new variant Omicron wouldn't be that bad, but it would still bring a little hinderance for local businesses and oriental stores like my own that is creating a whole imbalance of supply and demand causing either to buy and sell for higher prices.
https://www.wsj.com/articles/covid-19-variant-omicron-threatens-u-s-global-economies-11638268200
I was working in a small business during most of the pandemic. It was brutal for the owners to keep anything in stock and the price of everything kept going up. So many local small businesses have been closing due to this. I hope your family's bakery is able to get the items it needs to prosper and the new variant does not hinder that. I think the longer we experience covid, the more we are able to combat the economic affects of it.