As Covid-19 continues to spread across the world, affecting all facets of life and causing untold hardship to families, a lot of people have been worried for their survival.
As the world continues to grapple with the effect of the virus with no end in sight, a lot of businesses are feeling the heat and economic consequences of the outbreak.
In the midst of the ensuing confusion, there have been lots of predictions, projections and fearful anxieties.
The global economy has been put on panic mood, as it awaits the end of the Corona Virus.
But what happens after Covid-19?
This is one question a lot of businesses and individuals have refused to answer. Sometimes out of fear or sheer ignorance.
It’s true the economic realities of the Covid-19 outbreak will have long term effects on businesses. At the same time, it will also create unusual opportunities for some businesses.
In the end, the question about what happens after the pandemic is going to be inevitable because like other recent pandemics, Covid-19 will definitely come to an end.
And just as with others, what we do with our lives afterwards is what will shape our survival.
So are you ready to position yourself and your business for the post Covid-19 opportunities?
In this post I’ll be listing 7 profitable business opportunities available for entrepreneurs after the Covid-19 Outbreak.
7 Businesses You Can Start After the Covid-19 Pandemic
As you would already know, analysts believe the Corona Virus pandemic will launch the global economy into a recession that will lead to loss of jobs and businesses.
In the midst of this, some businesses will thrive while making marginal gains, either because of their peculiarities or the nature of products and services they deal with.
This will create opportunity for people existing in these businesses and others who would like to go into it…
The following is a list of possible business opportunities and businesses that will make waves after the Covid-19 Outbreak..
Tech related Businesses
As social distancing forces individuals to avoid crowded locations, most people will be forced to conduct businesses online.
The effect of this will lead businesses to adopt measures that will help them make their products and services available, both online and offline.
This in turn will cause a spike in demand for tech gadgets, apps and websites that will serve these businesses.
Thus causing a marginal boost in business for tech related products and service producers.
With a good research, feasibility study and a formidable plan, if you’re in the tech business, you can get your team together or expand to increase your capacity for the coming season.
There will be gradual growth In app and other tech related business development etc.
Agro related Businesses
With the onset of the Covid-19 outbreak, Agriculture has once again become a major player in the sustenance of humanity.
A lot of agric based resources including food, raw material for feeder companies, drugs etc have become essential commodities needed in high quantity during this period.
In the US for instance, according to World Grain, government had declared the Agricultural Industry as critical, thus allowing agro related businesses to operate despite the lock down.
With the current slow down in agricultural production across regions of the world due to the outbreak and consequent lockdown, a lot of manufacturers will be out of stock.
This will most likely create pockets of shortages of food and some very important agricultural materials thus driving the need for replacement and supplies.
In most populated countries, the current pressure will be largely felt in the urban centres.
Businesses can take advantage of such opportunities to invest in logistics and supplies between production centres at the rural locations and buyers in the urban centres.
Also, as the demand for agricultural products increases, there will be need for businesses to invest in planting fast growth food crops like rice, corn, millet etc.
Such crops that can mature in 2-4 months thus, ensuring a continuity in production. This is also an area a well researched investment can yield returns.
There’s also an opportunity in agricultural real estate.
Businesses with funds can invest in getting fallow or unused lands from the owners and renting same to agric investors who are willing to plant on the land at a specific amount, within a given period of time.
People with unused funds can also invest or fund agricultural production in return for dividends within a short period.
This is also a good time for large farming companies with a decent inventory to pitch to manufacturers, make sales and re-invest in their farms at a larger rate.
Alternatively, such farming companies can also come together as clusters and find out shared resources that can be used as they work on enlarging their business.
This will create a win win opportunity for businesses involved.
Food is essential to human survival. With or without the Corona virus, humanity would still need food to survive.
With the existence of the Covid-19 outbreak, the demand for outdoor food will experience a V shaped curve as most people will be cooking from home.
On the other hand, most houses will not afford the varieties that comes with eating from the restaurants thus even when there will be a sharp fall in business for restaurant operators, with time they will experience some growth.
One thing that is certain is that the lock down has forced many people around the world to embrace eCommerce like it happened in China during the SARS outbreak in 2003, when eCommerce platforms like Alibaba became extremely popular.
This new learned habit is not going to change in the nearest future. Many individuals will continue to make even more purchases online and this will in turn create the need for even more food businesses to take their services online.
Smart businesses that take up this opportunities faster will establish themselves as leaders in the online food industry.
This will bring in some spike in growth for these businesses.
The Covid-19 outbreak and current lock down is projected to encourage spikes in revenue for telecom companies in some developing countries.
This gains is expected to be driven by increase in data revenue, as Mobile Network Operators get set to record major milestones in data and voice subscriptions, as a result of the current Coronavirus-induced lockdown in major cities
Although there seems to be a slow down in growth for the telecom industry in most developed economies…
It is highly expected that the telecom industry will experience robust growth after the outbreak as the current slow growth experienced in some regions will remain temporary.
Currently, the Covid-19 pandemic is encouraging remote working options. This will continue into the nearest future, as businesses struggle to get back on their feet.
Also, a lot of businesses will maintain the remote work to some extent as there will be need to encourage skeletal in-house services as most businesses cut cost to recover from the cash crunch.
Such arrangement will increase further expenses on data and other related services thus leading to marginal growth that will be felt across the industry.
Digital Marketing Agencies.
Digital marketing covers businesses that engage in tech solutions like Content Marketing, Copy Writing, Online Advertising, Search Engine Optimization etc.
The Corona Virus pandemic has forced a good number of businesses to rely on tech gadgets and cloud based technologies for business purposes.
This reliance will continue this way for a long time even after the pandemic, leading to a rise in businesses offering cloud related services.
Like I mentioned earlier, as part of the effect of Covid-19 on businesses, a lot of cloud based businesses will have to rely on digital services to push their growth in the post Covid-19 era.
This is not because most will be very willing to take this new approach instead, in most cases, this will serve as the best alternative as the recession continues.
The slow economic growth and unavailability of large funds will push businesses to look for alternative ways to promote their business.
This will automatically push up digital marketing businesses like content marketing, SEO and social media marketing agencies as better alternatives to cost per click advertising.
Although it is quite arguable that the Covid-19 induced recession will force a reduction in advertising cost by major companies like Facebook, Google etc just to attract more patronage..
Most small businesses will prefer a more permanent solution like SEO, Content Marketing, etc at cheaper rates, compared to faster and more temporary solutions like PPC etc.
In 2003, the SARS outbreak in China marked a watershed in the growth history of e-commerce giants like Alibaba.
For Alibaba, the SARS outbreak with it’s attendant lock down convinced millions of people afraid to step outside to shop online. This change doubled the acceptance and growth rates for the online business.
Almost like it happened in 2003, in 2020, Covid-19 with it’s attendant lock down has pushed so many businesses online.
As self isolation and social distancing continues, a lot of buyers are not able to leave their houses, to patronize their favorite malls.
This has forced most buyers to buy from online alternatives. Sometimes out of their own wishes, thus giving some a first hand experience with online transactions.
Again, just as it happened in 2003 during the SARS outbreak In most cases, shopping online has indirectly improved people’s own perception of cloud based transactions especially, in developing countries.
A lot of e-commerce platforms are also having a cash out from this situation.
Most e-commerce businesses have experienced increasing sales and a good returns in profit, especially those dealing with necessaries and food items.
The experience is not about to end in a hurry. For a while even after the post Covid-19 era, a lot of people will continue to patronize ecommerce platforms.
At the same time a lot of businesses without online presence will push to go online with their businesses.
In the long run, it’s going to be massive gain for cloud based businesses as most stores will be promoting their online platforms just as most buyer’s positive perception of online platforms will naturally improve.