A Number Of Private Schools May Never Survive After COVID-19

By Nsunjo Erica

The outbreak of COVID-19 has made it impossible for several businesses to continue as entrepreneurs meander around for now opportunities, some of the most affected businesses are the private schools.

Private schools unlike public ones are owned by struggling entrepreneurs who have outstanding loans they collected when starting up these schools and had given commercial banks their buildings as collateral.

As we speak private school owners in all most every country that closed down schools due to the spike in COVID-19 cases are stranded by this closer, Private school owners are now having their properties and future on the line.

56 percent of private schools were already struggling with survival even before the outbreak of covid-19 however with the spike in the virus cases, this just escalated their problem to the top on indefinite closer.

Owners of private schools are pleading with their governments to support them offset these loans. If this fund is not there, they anticipate the commercial banks will take over their schools and by the end of it all, there will be nothing left of them.

In some countries, a number of proprietors of private schools have already put up their schools for sale because they don’t know when education institutions will be reopened following their indefinite closure.

Many of the countries that have recorded cases announced that it is close to impossible to promise School owners continuity of operations this year, in regards to the situation and this has thrown private school into tunnels.

Governments have not drafted way forwards on how to help private schools offset the loans from different commercial banks, despite the petitions being forwarded. Governments continue promising to instruct relevant authorities to deal with private school concerns.

It should be noted that private schools cannot guarantee online learning, most of these schools were just struggling with some lessons under trees. Therefore many will have been sold off or taken by banks at the end of the COVID-19 restriction.