The Global economy has suffered a major blow as a result of the widespread coronavirus pandemic resulting in a crisis where there is an unpredictable increase in the demand of goods and services coupled with businesses preparing for a probable recession post the lockdown. As the industries work on revival plans to be implemented post lockdown, we bring to you five business ideas that will prosper during and post the lockdown.
1. Online Business
Due to the shut down of stores and social distancing regulations, people are heavily dependant on the internet to go on with their daily lives. Thus any business that requires an online subscription coupled with lucrative deals and necessities will be in high demand.
Online gaming, dating, tutorials and fitness apps will be seeing a hike in the number of users. Netflix recently recorded its highest-ever online traffic due to quarantine.
While online recreation is the go-to for many, one major problem that has arisen during the quarantine is mental health issues. Online therapy or apps or businesses providing necessary information to deal with mental health issues are likely to prosper.
2. Professional Cleaning and Hygiene Services
One of the most effective ways to defeat Coronavirus is to maintain a clean environment and be hygienic. Even after the Coronavirus crisis dies down, healthcare and cleanliness industry could be much-coveted. Professional cleaning services that can sanitize offices, restaurants, malls, apartment complexes, homes, public transports will be in great demand as people are going to remain particular about cleanliness.
3. Delivery and Courier Services
While a possibility of mass unemployment lurks several businesses, online delivery and courier organizations like Amazon and Walmart are reportedly employing thousands of new employees to deliver the surge in demand for health products to boost immunity, including herbal products, sanitizers, masks, disinfectants.
The demand for groceries, household appliances and smart cooking products has also increased over the last few weeks of quarantine. Therefore, the business of delivery and courier services would be flourishing during and after the pandemic.
In furtherance to this, the business process automation will be the go-to solution for entities supplying essential commodities to facilitate and encourage non-contact delivery. This may result in the production and development of drone-related deliveries.
4. Pharmacy
The Pharma industry may witness a massive surge in sales during and after the Coronavirus situation. Companies producing, supplying, and developing medical equipments are already entertaining a huge growth in business. The sanitization and disinfecting items are the chief necessities during Coronavirus crisis and therefore, pharma companies are likely to indulge in massive production, resulting in a tremendous increase in sales volumes bringing with it huge profits.
5. Businesses Enabling Remote Work Facility
Businesses that provide its employees with remote work facilities or work from home options are bound to combat the Coronavirus crisis successfully. Providing the staff with appropriate assets, tools and technology are the primary task of companies and those which competently meet these needs, will be able to tackle the crisis effectively. Setting up remote work stations, proper communication, monitoring the physical and mental health of employees, and regular updates from team managers can enable an organization to combat the crisis situation successfully.
Businesses in the aforementioned industries or business models are likely to revive quicker than the others and as for the rest, adopting any of the following will guarantee a better result in tackling the revival of operations.
