Top 10 Businesses that are Worth Investing during the Covid-19 Pandemic
These are uncertain times; priorities are changing on a daily basis as a health emergency is being dealt with on a global scale. In these difficult times, many businesses are making efforts to help those who have been impacted by the crisis while attempting to deal with the financial impact of the outbreak on their businesses.
The outbreak of Covid-19 is causing global markets to crash as well as impacting many businesses irrespective of their size and nature. The pandemic has forced many businesses to change the way they work, communicate, and market their products in order to survive the financial implications of the ongoing crisis. By looking at the current situation, it seems likely that all these changes are here to stay for an unforeseeable time period.
However, the pandemic has also created a number of opportunities for businesses to look upon and consider. Many business entities are analyzing these business opportunities to know which ones are beneficial to invest their time and resources during the ongoing situation and circumstances.
Let us look at some of the businesses that have been boosted by the ongoing pandemic:
1 – Cleaning and Disinfecting Services
With coronavirus fears looming all over the world, it should come as no surprise that professional cleaning companies and disinfecting companies that clean and disinfect offices, homes, restaurants, and healthcare facilities are in high demand. Many cleaning companies all across Pakistan and in other parts of the world are experiencing an increase in demand specifically for coronavirus disinfectant spray and general cleaning of commercial buildings/office spaces and medical facilities in the light of COVID-19 pandemic.
2 – Surgical Face Masks and Medical Gowns
Since the pandemic began in China and spread worldwide earlier this year, several textile manufacturing companies have refocused their businesses and aligned with a common goal of ensuring that enough surgical face masks are available for those working in healthcare facilities as well as the general public in this fight against Covid-19. In addition, some brands are also manufacturing gowns for medical staff operating in hospitals and other healthcare facilities to help recover those who are suffering from Covid-19. Many more textile brands are joining efforts to combat the coronavirus and make some reasonable profits.
3 – Remote Healthcare Services
Due to the ongoing epidemic, many healthcare professionals, where possible, are preferring the use of digital platforms to diagnose and treat their patients instead of using traditional methods. Many patients, who have the means to receive online medical treatment, are also giving preference to online healthcare services due to Covid-19.
Online healthcare services are helping the facilities in alleviating the shortage of medical resources, reducing the cross-infection risks caused by physical contact, and enabling more people to receive medical treatment. In business terms, online healthcare services are allowing healthcare facilities to create a new revenue stream with less expenditure and more profit associated with it when compared with traditional methods of providing medical services.
4 – Online Gyms and Healthcare Centers
The physical health centers and gyms are among the businesses that have been severely impacted by the outspread of Covid-19 as more people are staying at home to curb the spread of Covid-19. People that use gyms and health centers to stay fit and healthy are now turning to online gyms and fitness apps to maintain their fitness and workout routines from home. From online gym apps to yoga and meditation apps, the sector is offering tremendous growth and promise.
5 – E-learning
Educational institutions all across the globe are forced to shut down amidst the outbreak of the coronavirus. Many institutions are utilizing online platforms and tools to allow their students to continue their learning and development while staying at home. The crisis and its subsequent consequences have caused a significant increase in the number of people visiting e-learning sites and downloading educational apps to make meaningful utilization of their free time as well as to continue the process of their development. It would be safe to say that the future of education is online learning. Educational app developers must move fast to leverage this new-found market.
6 – Food Delivery
In Pakistan, many restaurants had to close their dine-in facilities for customers, just like other countries which have been hit by the pandemic, after the government ordered an enforced lockdown. Therefore, many restaurants in Pakistan are turning to online delivery to survive during these difficult times. As per different reports, food delivery services are thriving because consumers are opting for staying at their homes to stop the spread of novel coronavirus. Some restaurants are even outsourcing their delivery services to professional delivery providers thus creating more business opportunities within the country. Some restaurants have even launched their own food delivery app while others are using existing food apps such as Food Panda and eat-in for enabling their customers to order food online and provide them with contactless food deliveries.
7 – Online Shopping
Lockdown regimes and store closures are forcing consumers to turn to online shopping to buy daily necessities such as grocery, and other products like clothes and shoes. More people are opting for online shopping basically to avoid going outside their homes due to Covid-19.
The outbreak is not only changing the way people shop but also how they make payment for their purchases. Contactless payments are receiving an unprecedented boost due to the ongoing pandemic. It is being seen by consumers as a cleaner way to make payments for their purchases.
8 – Entertainment
The digital entertainment sector is benefitting from travel restrictions, self-quarantines for travelers, physical distancing measures, and policy of staying at home to stop the spread of the Covid-19. The online streaming platforms are also experiencing increased traffic as sporting events in most countries have either been canceled or postponed and cinema theaters have been shuttered due to the coronavirus outbreak.
Social media influencers, dating, and gaming apps are also obtaining new viewers/ users as people are looking for different ways to entertain themselves as well as to interact with the outer world while staying at home.
9 – Remote Working Software and Tools
More governments are enforcing the implementation of serious preventative measures such as partial or full lockdowns and even curfews. This, in turn, is causing businesses to struggle with regards to maintaining adequate production levels and this is the reason as to why businesses are now turning to remote working software and apps in order to enable their employees to work efficiently and effectively even when they are at home to stop the virus from spreading even further. This sector looks set to benefit even more in the long term as many businesses around the world are looking to continue following the policy of work from home for an unforeseeable period of time.
10 – Freelancing and Outsourcing Services
There has been a surge in demand for freelancing and outsourced jobs as many companies are downsizing and reducing permanent staff in order to sustain the financial impact of the pandemic. The companies reducing their permanent staff are looking towards hiring freelancers and outsourcing companies from gig sites like Upwork, Fiverr, and Simply Hired. Another reason for the increase in demand for freelancers and outsourcing companies is the desire and need for no physical contact in offices as that means less potential of the virus spreading even further in the society and environment. Immunity-compromised and chronically ill individuals can seek more remote work through a site like ChronicallyCapable.com as it helps individuals with chronic illness to find more remote work.