The Novel Coronavirus or as commonly known as COVID-19 has badly disrupted the world’s economy as most businesses have closed permanently while others are on the verge of bankruptcy. Such difficulties have arisen due to the fact that nearly all countries in the world have or had previously restricted movement and gatherings of any kind which meant that business could not stay open. Many businesses could not stay open because they could not maintain their traditional supply and distribution channels or are facing lesser demands than before.
The world has previously faced financial crises as well as the 1929 stock market crash and the Great Recession of 2007 and 2008, but this current pandemic is not the same. During this current pandemic as some businesses are facing heavy losses, some businesses are seeing increased demand for their products, even more for what they were prepared for.
This has increased their stock market prices, the increased demand has opened new opportunities which they are hiring. Companies like Netflix have had increased viewership as compared to before and have seen a surge in the stock market.
There are certain reasons to be optimistic as well because as bad as plagues are there are certainly good things which have come from them. Spanish Flu laid the foundation for the healthcare systems that we have today, the Cholera outbreak of the 1800s provided people with parks, better infrastructure, and clean drinking water.
So, as bleak as these times might seem there are reasons to be optimistic about the future as well, major opportunities will arise from which certain startups could benefit greatly. This article will be your guide on certain startup ideas that would benefit the common people as well as the entrepreneurs investing in them.
But first, how can this pandemic prove opportunistic for us? Well here are a few reasons why and how.
Pandemics Can Pop the Bubble
We the human race resist change, we despise it and typically we run away from it. But there comes a time when we start perceiving things differently and at that moment our bubble of perception is popped.
Looking back at the pre-COVID-19 world you can find certain things that were done differently, you had certain ideas which people told you that was “impossible” to do so. But now looking at it with a different perspective they totally seem possible and doable. It is now possible to have an entirely remote workforce creating new possibilities for startups.
Pandemics Creates New Needs
Times of need create new opportunities for business and those who are willing to adapt are successful. Pre COVID companies are firms refused the notion of employees working from home but when the situation worsened companies preferred their employees to work from home but there was not a proper framework in place, initially people used Skype and then Zoom came along and people shifted towards it and an entire video conferencing infrastructure was in place.
This in effect created more bandwidth utilization which the internet service providers (IPSs) fulfilled with the use of new and improved technologies that they developed or were already available in the market. So you get the bigger picture than certain situations create new opportunities for business which they could explore.
Pandemic Creates New Rules
You might have seen certain changes in your local business and other bigger businesses that were out of the question before, that is because laws have changed forcing businesses to adapt. Normally people went to the doctor, but now they are using video conferencing tools to consult their doctors.
Or now you cannot dine in at your favorite fine dining restaurant, why? Because laws have changed which do not allow you to eat at your favorite restaurant, instead you are forced to have it on the go. Entrepreneurs see these opportunities as new beginnings from which they could benefit from greatly and could change the world while they are at it.
So with that being said let us get to some startup ideas which seem quite optimistic and could benefit you and the society greatly.
With personal protection like masks and gloves become a necessity these days, people are using them more than ever before. This has been a quite common practice in Asian countries like China and Japan, but with widespread use around the world, a need for customizable and stylish face masks is more than ever before.
A startup can provide people with the ability to design and customize their masks based on their requirements and then could be delivered to them. This startup can act as both a long term and short term business model as personal hygiene equipment will see a permanent use in the coming years.
Cleaning and janitorial services are in high demand these days as people are focusing more and more on having a clean household and workspace. If you have ever thought about starting your own cleaning business then this is the best time to do so. Cleaning services will remain high in demand even after this pandemic is over as humans tend to keep certain habits that they acquire over time.
Governments around the world are easing lockdown restrictions and are allowing businesses and offices to resume their operations with the condition of checking and testing employees regularly or after a certain period of time. But the question remains: who will provide such screening services?
Here is where your startup can help, you could establish a screening service which would take temperature readings of everyone in the office and all customers before entering the premises. Your startup could also provide COVID-19 testing facilities (if you have the required training and equipment) to people in their homes and offices.
As businesses are closed during the pandemic they are starting to provide home delivery services to their customers. You can create a startup that could provide logistical support to the store owners and businesses in your area. It is predicted that certain small or large businesses will keep the delivery options available for their customers even after the pandemic is over.
Working from home has created many opportunities for the existing business and those were looking for a job before. Remote applications work with the use of video conferencing tools like Zoom and Microsoft Teams, following are some applications for remote services that startups can provide.
Since gym and other fitness centers are currently closed, your startup could provide people stuck in their homes with a proper physical routine that they could follow. Many gyms around the world have started remote fitness programs for their current and new clients with the help of Zoom meetings. A number of people can join at a time and a single instructor can guide all of them at once.
All educational institutes whether they are schools, colleges, and universities are currently closed. Most governments and educational institutions are trying to get the students back on track with the help of online classes. You can have a startup with a network of teachers who can give lectures on specific topics to willing students individually or in a group.
Since the current situation of the pandemic restricts the movement due to strict lockdown in place, people cannot visit their doctors for their regular checkups. People also tend to stay away from hospitals in general as they could act as potential hot spots due to the COVID positive patients visiting them. Your startup could provide people with medical advice that they seek, you will need a network of doctors who would use video conferencing tools to hear patients and provide them with their professional advice.
The retail business is certainly facing difficulties and some small business owners might not recover from this even after the pandemic has ended. Hence they could turn towards e-commerce as an alternative, if you are a small business owner facing difficulties then you can start an online business which would offer the same services but on a larger scale. This might even expand your business than before.
Pandemic Provides Startup Opportunites
As mentioned earlier previous pandemics and plagues have been devastating for the masses but they also brought some positive things with them. People started having better lifestyles and certain great businesses were born during these hard times, this pandemic will be the same and will provide people with opportunities that were not possible before. Startups that start during economic crises tend to perform better than those which initiate in normal times. Look around you to see problems or things which could be done better and come up with a plan to make them better and you have got your idea for a startup.