Colorado Springs businesses respond to potential coronavirus impact on economy

COLORADO SPRINGS, Colo. (KRDO) -- The coronavirus has been spreading across continents, and that's leading to effects on markets -- both good and bad for everyday consumers -- and could even cause concern for the Colorado Springs-based U.S. Olympic Committee.

An official with the International Olympic Committee told the Associated Press that if the virus isn't contained by May, the Tokyo Olympic Games could be cancelled.

Meanwhile, stocks have shifted and up and down several hundred points in the wake of coronavirus, and even gas prices are being brought down by the potential pandemic.

Although the novel coronavirus is delaying the manufacturing and delivery of products from Asia, some business owners in Colorado Springs say they feel prepared.

Sherrie Antes, the owner of School Crossing Toy Station and Play Kingdom, says she's not too concerned.

"Depending on what happens, some of our manufactures could be impacted here possibly in the spring and summer," she said. "But the hope is that it wouldn't be any longer than that."

Although about 75 percent of her goods have some connection to China, Antes says she recently relocated her store and decided to overstock on goods.

"I don't think we'll be impacted too much," she said. "Plus we have very personal relationships with our reps and so they can help us find other products."

Antes also says diversifying her business, by selling school supplies and offering a birthday party venue, should also keep potential negative impacts at bay.