Year 2020 has witnessed and still is witnessing a lot of unfavourable financial situations – almost a snafu. No thanks to the Coronavirus! For your Post covid-19 plans, we have some ideas to share. We begin with the root of it all – The CoronaVirus.
The Coronavirus also called COVID-19 was initially found in Wuhan, Hubei province, China in December 2019. The Chinese government initially put a quarantine measure in place to curtail the spread of the virus.
However, the virus spread like a wildfire to other continents and countries of the world turning it into a global pandemic which resulted into a dire economic crisis worldwide. Notable among these worldwide financial downturns is the sharp decrease in crude oil. The lowest it has ever been. Below $2 per barrel (June 2020).
The International Monetary Fund (IMF), represented by its Managing Director, Kristalina Georgieva, stated on March 27 that the global economy has slid into recession.
Averring this claim is the report of the Organisation for Economic Co-operation and Development (OECD) that points out the looming decrease in its GDP to be as low as 2.4% – the lowest since the 2008-2009 global economy recession.
It looms worse for Africa. The existing economic, commercial and governmental challenges creates many weak points for the Corona caused financial issues to hit. The African Union (AU) analysis shows an estimation of Africa’s GDP shrinking by 0.8% under a “realistic scenario”; while contracting by 1.1% under a “pessimistic scenario”. AU also forecasts 20 million job losses across Africa.
Concerning what the Post-Covid-19 will look like, economists have a lot to say. In a concise and a bit euphemistic manner, it all goes down to how long and tedious it may take several regions of the word to get back on their feet financially.
However, amid all the panic, there are businesses one could delve into, during this Coronavirus pandemic and hopefully, after it.
Below are five businesses that are viable and you should totally consider for your post covid-19 plans and during this period.
- Delivery Service: The situation that followed the Coronavirus pandemic in many countries is a lockdown or quarantine order from the government of those countries. It becomes incredibly uneasy to buy things, even groceries. The resultant effect of this is that people are willing to pay for services that offer house delivery of desired goods. Professional delivery services are getting very high demands. Goods ranging from the most basic needs like foods to luxury ones like furniture are being purchased and handed over to logistics companies by the suppliers to deliver to the buyers. This business may require an amount of investment in money, skill and experience. For instance, someone who would run a delivery service should have a vehicle or a motorbike and a good driving experience. Being that this is on high demand currently, the returns are commendable. It is also a business that will keep thriving after the coronavirus period. Lots of persons like to go shopping but do not like the stress of carrying things about. So “Hello delivery person, I have some jobs for you.”
- E-Learning and Teaching: For some, the pandemic has marred their chances of continuing their studies – but they want to continue despite the resultant restrictions. For some others, the lockdown is a rare opportunity for self-development and improvement and career development – they want to start new classes and courses. One business fills these gaps and get the bills from it. That is the e-learning and teaching facilitators. This currently is a booming business. Even pre-lockdown, it has always been booming and will continue to do just that – booming. Several career enhancing courses that are known worldwide are constantly taken by millions of people. The likes of Human Resources Management (HRM), Project Management Professional (PMP), Cybersecurity, and many entrepreneurship skills. E-learning is not limited to this alone. E-learning also caters for basic subjects, classes and students. Subjects such as English, Mathematics, Literature, Physics, Chemistry and Biology are offered on many websites and taken by many students. With students unable to go to school because of the Covid-19 pandemic, the demands for these services are on an all-time high.
- Grocery Stores: Food is certainly essential. Plus, Corona is temporary, hunger is forever. The most demanded group of goods during the lockdown is food, food and more food. It seems like a biorhythmic thing, the more one stays at home without much tasks to attend to, the more food one consumes. The Coronavirus has little negative effects on this business. Hence, during or post Covid-19, this is a business with good returns. In most cases, you do not need to engage in a lot of publicity. People look for food, food is quite a snub: it does not look for people. Keep that in mind always and you just mind be spurred to get started on the new business.
- Digital Arts: Are you an expert in the use of CorelDraw, Photoshop, Light Room or any application that allows you create digital images and designs? Well, get in the market and make some money! This generation has seen a large influx of digital arts. Consider the channels through which Covid-19 awareness is heavily communicated. There are loads of still and moving images; some graphics are animated, some feature humans. This is a business not bound by geographical boundaries. Your clients could be a thousand miles far from you, and you may never get to meet them. All that matters is how creative you are. And, this is a business with large demand. More need for digital arts rise on the daily; ranging from entertainment to the educational and even to the political spheres.
- Writing Services: Letters, resumes, proposals, dissertations, copyrighting, articles, creative writings and a whole lot of opportunities await a writer. Content development based on writing is a skill always in demand – pre, during and post Covid-19. This is a business one could comfortably engage in from home, hence the lockdown does not hamper work flow. In lieu, professional writers have claimed there is an overwhelming demand for their skills during the lockdown period. It seems there are more reasons to write – ranging from entertainment, business, educational articles, most especially for awareness purposes. Several middle-men platforms create a haven for writers and those who need their services. The likes of Fiverr and Upwork serve this purpose.
This list does not represent the limit to business that thrive during this pandemic and are good fits for your post covid-19 plans. There are many other businesses that will also thrive during these periods. Some of them are professional cleaning services, IT, game making and sales, and virtual event planning.
