Manchester United had an underwhelming transfer window last summer, during which they were unable to acquire any of their top transfer targets and did a bulk of their business at the last moment.
Solskjaer revealed that the club will look to improve the squad over the summer but has warned fans against having unrealistic expectations. Solskjaer also spoke about the impact of the coronavirus pandemic and how it might affect their business.
"It's definitely affecting everyone in football, the pandemic. Of course the lack of income, the finances that have affected everyone and it might affect us all well. We have to be realistic, we have to be responsible in the way we do our business both on an off the pitch," said Solskjaer.
"There's improvement on the training ground, stadium. We just have to look at the whole picture. Where we can spend the money? And how is there? It's just the real world now. It has changed."
United have, however, shown improvement under Ole Gunnar Solskjaer this season and are on their way to improving on their fourth-place finish last term.
The Red Devils challenged for the title at points in this season, but with Manchester City opening the gap between them to 15 points, the race seems all but over.
Manchester United will now look to finish the season on a high and tighten their grip on second place. The club will also look to commence plans for their summer transfer window.
Ole Gunnar Solskjaer speaks on the financial impact of Covid-19 as he looks to improve squad in the summer
When asked about the difficulties faced due to the coronavirus pandemic, Solskjaer said that all clubs across Europe are facing similar issues and that could largely impact their ability to rebuild a squad.
"You can look at it different ways (with a) rebuild. We also have players in the academy that we now maybe give opportunities to. Of course, all clubs in the world ate going through the same situation so it's no different for other clubs than for us," said Solskjaer.
"I think there's just going to be less and less transfers happening in the world of football until this changes."
Ole Gunnar Solskjaer's side seem to be a player or two away from mounting a serious challenge for the Premier League title. The Norwegian will be desperate to sign a top-quality centre-back, a forward, as well as a right-back to provide cover for Aaron Wan Bissaka this summer.