Business opportunities in times of Coronavirus
Having to stay home and cut back on operations is not healthy for companies. Some have had to completely reinvent themselves, at best, but others have had to close indefinitely. However, there are sectors that can take advantage of this contingency. Then in Hispanic Entrepreneurs we mention some business opportunities in times of coronavirus.
Industries most affected by the arrival of COVID-19
The coronavirus pandemic forced authorities to take action to stop its spread. The United States is one of the most affected countries and, consequently, drastic measures have been taken that affect all industries.
While people remain in confinement travel has been reduced, there are no sporting events, no concerts, no conferences or any other event involving crowds. On the other hand, businesses remain closed, with the exception of those considered essential such as supermarkets and pharmacies.
The above means a blow to companies and the economy in general. The stoppage of activities in a sector generates a domino effect that affects a large number of companies. For example, in tourism not only airlines are losing business, but hotels, agencies, cruises, restaurants, etc.
Likewise, the manufacturing industry is going through a tough time as a result of the pandemic. The main car factories have suspended their activities; therefore, suppliers are also affected. In the same way, dealerships have lost sales.
The same occurs in the other sectors in which production chains have been affected.
There are companies that have asked their employees to work from home and businesses with electronic stores have also been active.
To get out of the crisis caused by the coronavirus all They need a recovery plan, but at this point the economic impact will have been enormous and thousands of people will have lost their jobs.
Business opportunities in times of coronavirus
Over time, crises have represented behavioral changes and the evolution of business models. And the coronavirus pandemic is no exception. As has happened on previous occasions, the effect of the pandemic on consumption habits is already beginning to be felt.
From the time voluntary confinement was called, online sales increased, as did the demand for technology services for working from home. Similarly, streaming and entertainment services have gained numerous clients in recent weeks.
On the other hand, we have also witnessed the massive consumption of certain products such as medicines and hygiene items.
Some of those changes are transitory and will return to normal once the crisis is over. However, others will remain in time. For example, if a company considers keeping employees working from home to save office rental costs, it is likely to keep this model beyond the pandemic.
Existing companies have a difficult way to go, but beyond that a question arises:it is convenient to start during the coronavirus? Life does not stop and there are still people who demand products and services that someone must attend. So it is possible to invest in a new business. The key is to do it in the right industry.
Here are the most profitable businesses during and - possibly - after the pandemic.
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1. Home delivery platforms
Faced with the need to stay at home, consumers increasingly use delivery services. Right now there is a rebound in home food orders and for this reason many restaurants have been able to remain active.
If you start such a business and provide quality service, users will continue to use it in the future.
2 Electronic commerce
This sector is also one of the winners in the face of the crisis. Since physical businesses remain closed, those who have an online store have seen the increase in web traffic The last weeks. It works to sell any type of product, however, at this time the food and medicine sectors are the most favored.
3. Distance education
On the one hand, educational centers remain closed, forcing the fulfillment of school obligations through the Internet. On the other, people have more free time to learn new skills. So it is a good time to offer online courses, webinars, e-books, among other similar products and services.
4. Technological services
With more people working from home, there is also a greater demand for services that allow maintaining communication between the company. That is, applications to make video calls and conferences, to manage work collaboratively, cloud storage, among others.
5. Entertainment apps
Since the confinement began, everyone has been looking for a way to entertain themselves at home. In such a way that application download has increased of games, movies, music and other leisure options. Both children and adults come to these to pass the time and also as a way to socialize with others.
Here we show you five business opportunities in times of coronavirus. If you keep your mind open to change you will surely find many more. Do you need advice? Do not doubt contact us and we will help you with your venture.