This is, I suspect, going to be a long and gruelling road.
A lot of people are going to die. For the people on the thread talking about the regular flu: Italy went into lockdown almost a week ago, and the daily death toll from coronavirus has already overtaken the daily death toll from the flu despite those measures, from a standing start. Coronavirus is more easily transmissible, and considerably more lethal. Countries that went into lockdown early and hard will minimise deaths; countries that have been slow to do so will suffer the same fate as Lombardy, as the virus sweeps through a desperately overloaded hospital system and the mortality rate climbs to almost 10%. The UK is projected to lose somewhere between 0.5% and 1% of its population; I don't think Italy even has a clear answer for that question.
A lot of small businesses are going to be wiped out; they simply don't have enough of a cash buffer for the owners to survive two or three months of little to no trading. And make no mistake; it's going to be a while before things get back to anything resembling normal. Chinese cases are starting to reduce, but that's happening while the lockdown is still in effect; we don't know yet how long it will take for the threat to recede enough for us to restart normal daily life.
A lot of medium-to-large businesses are going to be wiped out; they issued bonds to fuel growth which is now dead in the water. There are going to be a lot of firms becoming insolvent as those bonds fall due and it gets progressively harder to find buyers for new bonds in a crashing market.
A lot of tech companies will be in serious trouble; they built business models on the back of a growing economy and an exit plan that involved either an IPO or a sale to a larger buyer. Huge numbers of businesses have no roadmap to profitability, and while they might have sold out eventually to a company seeking a specific acquisition, that kind of purchase is likely to become a lot rarer. Venture capitalists too will be getting very leery of pumping more money into these firms.
The post-lockdown recovery, too, will be built on a very different set of foundations to what we're used to. Just-in-time production, reliance on Chinese manufacturing, and long supply chains will be viewed with severe suspicion for a long time. One potential engine of recovery, I suspect, could end up being a gigantic fiscal stimulus from governments around the world; the pandemic may put a permanent end to the idea that small government is a good thing in and of itself.