Covid 19 has disrupted the ways of life in many aspects, not only the number of times we wash our hands, masking, the social distancing, online meetings, among others, but also stemmed business opportunities for those with an entrepreneurial sight. True, we are all well awash with information regarding the adverse effects of the pandemic, leaving aside the numerous concealed opportunities; Covidex being one of the kind.
As we review the foregoing Covid 19 period, let’s salute Prof Patrick Ogwang’s timely invention of Covidex plus the business buzz it created, not forgeting the few middlemen who made a killing out of the early scarcity, but most importantly use it as a learning opportunity. We need to proactively unravel the business opportunities for our economy that will focus on the situation ahead.
The coming time will witness the incline of heavy traffic towards the online platforms This gives a golden opportunity for individuals to set up service based online businesses. Even in the current scenario, going ahead with online best businesses to start, will be a win-win situation for you. Here is all you need to know about all online businesses and ideas you can easily start and things you might require to set up.
True, the invention of Covidex confirms that in the wake of Covid 19 challenges, there are indeed numerous business opportunities to harness. Well, several businesses have suffered huge losses and some people have lost their jobs because of massive economic downturn resultant of the lockdown. We cannot watch without doing anything. Therefore, we have to become more aware, decisive, proactive and think of businesses that can be started during this tough time or even business pivots.
With the emergence of Covid 19, health care products have gotten an assured demand. Ideas like small scale mask making and hand sanitizer production have seen an encouraging demand of a variety of face masks and hand sanitizers. Several entrepreneurs have seen the light by relaxing their already existing businesses during Covid19, especially those that have been restricted for a long time, like bars. Some businesses like NICE are enjoying this turn, as the plastic face masks sell out.
Indeed, door to door delivery businesses have boomed, as customers prefer buying products online, rather than visiting supermarkets, arcades and malls, where there will be more possibility of getting infected. This is one of the best alternative business during the lockdown period, in which various types of delivery services can be initiated, such as essential items, grocery, pharmaceuticals and alcohol deliveries. Many firms like Glovo, jumia, safe boda are delivering.
Food continues to be a basic need, but a necessity to all! Several online platforms have pivoted towards food, which they deliver with the help of delivery vendors. We could consider starting a kitchen of popular or desired cuisine that is in demand in the neighborhood. The initial investment required is minimal. It requires purchase of raw materials with skilled and professional staff, including chef, helper, etc
Due to the lock down of schools, students are struggling to learn or even consult with their teachers. Their education is getting hampered with this passing of time. To make the most of this situation; professionals with knowledge, skills and expertise in any specific field or subject could start online tuition or coaching classes for students. A smartphone and internet can change the tide.
Another option is aiming to earn from online businesses like social media platforms, online teaching, online music and videos, telemedicine among others. Well, YouTube is considered as one of the most lucrative and popular online businesses. If one is really passionate and possesses a unique style or aura to make as many followers of that channel. For the musicians still in a lock down, this is a matter to ponder about.
All in all, the secret sauce to the emerging business opportunities is finding solutions to the prevalent problems; like the facet of online businesses that are receiving great demand. Even after Covid 19, online study, online meetings, e-commerce will continue. Quite a number of the emerging business ideas are blossoming at a quicker pace.
By Michael Jjingo
The writer is a General Manager Commercial Banking at Centenary Bank