Which is the best business to start after COVID-19? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Many countries are indulged in preparing the Covid-19 vaccine. Once the conditions become normal as before, the business owners and entrepreneurs will strive hard to get back on track. However, there are certain businesses having a great growth scope post Covid.
Being a professional startup consultant, I’d like to share my opinion on the best business sectors that are most likely to flourish after Covid. These are:
The ecommerce business model has entirely transformed the ways people shop for their daily life essentials. Especially during the Covid times, the number of people shopping online have increased expeditiously. Also, it is the safest option to shop online.
Even after the Corona phase ends, people will continue to shop on ecommerce platforms as they offer safe and on-time deliveries. Choosing ecommerce has proven to be highly beneficial for both the customers and delivery agents. Plus, the sales of online food & grocery delivery apps have also increased exponentially!
Due to the imposed lockdowns, all the businesses were enforced to shut down. However, making use of the advanced technologies, the business owners made their services available via the online platforms like mobile apps and websites. This idea proved to be a huge success as there has been a huge spike in the revenue of online platforms that offer online consultation services.
The services of the healthcare sector were highly in demand throughout the lockdown period. The annual turnovers of pharma companies have proliferated magically. Moreover, there has been a huge increase in the sales of masks, hand sanitizers, gloves, etc.
Even in the next normal, pharmaceutical companies can make some huge profits on selling the Covid vaccines and medicines. Also, there is a huge need for industries providing telemedicine solutions.
One of the major sectors that suffered a mighty loss amidst the pandemic was the education sector. Schools, universities, and all other educational institutions were closed because of the lockdown. However, with the help of digital platforms like apps & websites, they have managed to run smoothly.
The ed-tech sector has diverse growth opportunities after the pandemic ends! Also, there is a bright growth scope of educational platforms teaching via video conferencing apps.
The most negative impact of the Coronavirus outbreak was on the tour & travel business industry. All the travel mediums like flights, railways, taxis, were closed due to the lockdown. After the Covid ends, this industry is quite likely to regain its lost growth pace. Also, the people who had to remain quarantined or were working from home during the entire lockdown would surely look forward to traveling to a nice destination to relax their minds.
Similar to these, the end of Covid will open several growth opportunities for the businesses to flourish again. However, they will have to think a step ahead and start promoting their services today itself. Simply putting, in the next normal, the advanced technologies will be of great help in running the businesses flawlessly!