This may sound like one of the craziest things you have heard, starting a business in the midst of a global pandemic. Especially since that pandemic is forcing an increasing number of businesses of all sizes to close or scale down.
But for a number of reasons this isn’t quite as crazy as it sounds. With wider unemployment, meaning more and more people now out of work and having time on their hands, there could be more opportunities than ever to begin a new business.
The types of business that may thrive during a pandemic and survive after should be our focus, so here we look at some ideas as to the type of business you could begin.
Buy an existing small business
For a variety of reasons this could be a great start. There are many reasons businesses are sold, and with interest rates low, and help on offer for such businesses throughout the pandemic it could be a good time to secure funding and hit the ground with a business new to you. Bringing fresh eyes to a business that is feeling stale means you will be able to keep what works and ditch what doesn’t in favour of more pandemic friendly methods.
What types of business may thrive throughout and after the pandemic
The pandemic has seen many traditional in-person roles taken online. If you can work with something or do something you have a passion for, will certainly make putting the work in much more fun.
In terms of starting a business that meets these changing needs, you may consider one in:
With more items bought online the need for drivers is growing. Or, you could delivery hot food offers. While big businesses such as Uber Eats and Just Eat do well, it doesn’t mean they have ALL of the food delivery market.
If you have a skill or words of wisdom, many in person roles are being converted successfully to video and live stream methods in order for instructors to impart their knowledge. Imagine – you could turn your fitness techniques, maths expertise or even how to crochet skills into an online presence that people will pay to partake in without leaving home. The pandemic has seen a rise in live online services such as Zoom and MS teams for training. These take the place of meeting with people very effectively in many cases.
Whether we like it or not, the coronavirus pandemic has seen the switch to online shopping vastly accelerated over the course of 2020. The demand for products has not disappeared, but the way we shop for them has changed. Online sales in both essential and non-essential items and services has risen dramatically since lockdowns and general restrictions on venturing to local retail parks and high streets has been in place. You could set up your own homemade products to be sold online, or consider starting a drop shipping service to offer a wide range of products to your clients.
One things certain, business opportunities are limited only by our imagination and willingness to put the hours in. Look for ways in which you could enrich the lives of others, or a gap you have found yourself in availability during this pandemic and see how you could create a business in the pandemic that fills a new- or ongoing – need.