Is a pandemic the right time to start a business? It just might be
While containing any further spread is the primary concern, the consequential calamities would haunt us long after eradicating it. There won’t be anything normal or restated to former glory again, it will be a new normal for us. We are staring at behavioral changes in the corporate as well as the startup sector. Large scale discontinuities in several industries and a high level of unemployment across the globe.
Looking from a vantage point at all this, a number of industries seem to be benefiting from all this as well. For this isn’t an economy driven meltdown, it’s a calamity that did not devastate the infrastructure at hand, it has just brought it all to a standstill. Amid all this, few sectors seem to be making the most of these recent turn of events.
Courtesies to the new norms directed by the governmental bodies across the globe, there’s a huge behavioral change perceivable among the consumers. From shopping online to social distancing and less-likely a will to travel to congested-high density places, the new normal might not be as bad as we presume it will be.
For some of these sectors, the new normal would bring in newfound opportunities. A whole new market that was untouched before is now up for grabs. As we are talking of all this, some startups are already working upon the aforesaid scenario.
Let’s take a look at the sectors which would be at an advantage for the business model they posses:
EDUCATION TECHNOLOGY
Online education, tutoring, web courses, etc. have come up to be the need of the hour when schools and educational institutions are not allowed to function. Irreplaceable, the online education sector is observing a sudden surge and people from all walks of life, from every of the COVID-19 affected nations, are looking up to alternatives of conventional teaching and learning.
People are afraid to send their kids and children to places where social distancing cannot be practiced and hence the Ed-tech sector is tapping on every possible entity they can. Also, which is convenient, holistic and more sustainable for the time until we have a permanent cure for COVID-19 pandemic.
HEALTH & WELLNESS
With a worldwide health emergency in play, it’s a huge opportunity for the health and wellness sector to place itself as a necessity among the users. Branding themselves as pivotal and much needed support mechanism, this industry is already on a rise to becoming the one with most growth perspectives in the future.
People facing the imminent threat of immunity deficiency paranoia, are looking forward to anything that helps them stay healthy and fit. Adding to which, the various advisories by the authorities across the world are promoting such things, and which is an uncalled for publicity if nothing else. Also, the demand for such things has risen so drastically that the existing entities already have more than their appetite on the plate.
REMOTE-WORKING TOOLS
Remote Working Tools fall right in the path of success in such times. With the temperamental changes that we are likely to witness, Remote Working Tools would facilitate the ongoing projects and pave the road map for future endeavors to greater extents.
These applications would serve the founding stones for the majority of business operations in the future and a haven for existing ones. Supporting the need of the hour, while accentuating the current work culture to better productivity, these would help position or in the transition to a better stance for numerous brands across the globe.
E-COMMERCE & DELIVERY BASED SERVICES
With national lockdown imposed in various countries, social distancing being practiced as the new normal for upcoming months if not years, and people refraining from gathering up at markets, grocery stores and public places, the E-commerce & Delivery based sectors are booming at large. These offer a safe and distanced way to procure essential and non-essential commodities, which is advised as precautionary measures for COVID-19, the industry is to see a spike in customer-retail operations.
Given the advent of the technological revolution and interface management systems, this industry was already on a growth trajectory. But the recent turn of events just catalyzed the entire game to unprecedented levels. People who refrained from using online ordered utilities; services and commodities are now adapting to procure for their daily needs.
Conclusively, the future is bleak for the most of us. Economies are uncertain for growth, widespread unemployment looms over us for the upcoming quarters, but not for the sectors and industries stated above. These would continue to shine even in the cloudiest of weather. After when the storm passes by, these would emerge as the knowledge and industry leaders to behold.
