The COVID-19, or Coronavirus as it is known around the world, has caused immense damage to economies all over. Established businesses have been forced to close up shop, and people have lost their jobs. Many are struggling to survive, and governments have also announced stimulus packages and relief cheques to help the residents. However, one of the sectors that has continued to report strong growth and earnings on an annual basis is the IT sector.
In fact, Netlinkz reported strong earnings in the last quarter, indicating business as usual. The company recently released a report stating that its operations in China have continued unabated, without feeling the impact of the COVID-19. In fact, most of their staff is already back at work in their laboratory in Beijing.
Reasons for the Growth of the IT Sector
As the entire world moved to a work from home model, the burden on the IT sector was incredibly strong. Needless to say, the IT infrastructure across the globe was tested excessively, and it managed to hold up. Videoconferencing tools became the norm, and many companies reported significant growth because they were offering such solutions.
In fact, whereas the world was reeling from the impact of the virus outbreak, many IT companies were investing large amounts of money to grow their business. As the world moved quickly toward home-based jobs and even managers and corporations from different parts of the world began to switch to home working models, the IT sector really began to shine. It’s no wonder that many of the companies listed on the exchange have reported fantastic earnings.
Security Is Important
Another important reason why these companies have managed to grow is because security has been tightened up, so you haven’t heard about any major data leaks or problems at all. In fact, at a time when the chances of hacks were at an all-time high, many companies have been able to come through with flying colours. The chances of hacks have been reduced considerably and today, more and more companies are able to keep their data secure.
That is one of the main reasons why the IT sector has been able to flourish without any major hitches at all. Today, in fact, there are a bunch of new companies that have become successful and have become incredibly valuable. These are just some of the main reasons why the IT sector has managed to grow despite the economic effects felt around the globe due to the spread of the COVID-19 pandemic. So, if you are in the IT business, there are chances that you will continue to grow and gain success!