Seven businesses that will boom after this pandemic.
Throughout history more billionaires and millionaires are made after a recession and economic crash than any other time so how do you take advantage of this time.
The global economy will this year likely suffered the worst financial crisis since the Great Depression due to the Covid19 pandemic says the International Monetary Fund.
The World Trade Organization also said that the global trade will contract by between 13% and 23% this year also the OECD has warned the economic heat from the virus will be felt for a long time to come.
POST PANDEMIC EFFECTS
No one knows when the Corona virus pandemic will end for economic activities to return to normal but even as uncertainty abounds, life-changing opportunities will rear their heads throughout history.
The financial crisis of 2008 also produced its own disruptive side-effects .
Airbnb and Uber shut up in popularity across the West as the crisis forced people to share assets in the form of spare rooms and car rides in order to cover for the deficit .
With covered 19 we’re already seeing early signs of a shift in how consumers and businesses behave.
Remote working is being encouraged by tech and non tech companies alike supply chains are getting disrupted globally and retail stores are running out of ibuprofen ,dry goods and toilet paper on masse. Some of those changes are direct short term responses to the crisis and will revert to regular levels once covid 19 is contained .
However some of the shifts will continue on creating a long term disruption that will reshape businesses for decades to come.
While it’s more important to focus on getting out of the health risk posed by the outbreak you need to keep your eyes on what lies ahead after the pandemic.
because this global pandemic will shape businesses for decades to come here are seven businesses that will boom after the Corona virus pandemic.
1- DIGITAL MARKETING
Digital marketing has experienced a boom over the past decade of the industry is recording some losses as businesses are now cutting back on their digital marketing spending.
However the industries likely to experience even major boom after COVID 19 .
Many industries have experienced significant decline to digital marketing usage since the lock down with travel, transportation and hospitality being the most heat .
Most businesses are currently shut down with no cash flow and companies are eating deep into their cash reserve.
When this pandemic is over and businesses received most businesses will need to get their cash flow back on track businesses will be open to innovative and affordable ways to reach customers and digital marketing will be Derek to the rescue .
This is an area you want to position yourself in take this lockdown as an opportunity to develop your digital marketing skill .
2- STOCK MARKET INVESTING.
A famous investment wisdom credited to the world’s richest investor Warren Buffett is
“be fearful when others are greedy and greedy when others are fearful”.
Typically market crashes when people out of fear of losing their money start selling off their assets and cutting back on their spending stock price goes ridiculously down.
This is usually the best time for smart investing you can buy stocks at cheap prices and right through the market recovery but there are no guarantees that every stock will recover after a recession.
Some companies may go bankrupt be sure to thoroughly research the stocks to invest in and seek expert advice
3- ONLINE EDUCATION
The current a virus outbreak has caused schools, primary ,secondary and tertiary institutions to close down and no one knows how long.
Students will have to stay at home this reality has forced the crash course for online learning plans and technology for students and faculty. The world is going through a mandatory giant online education experiment, the aftermath could accelerate changes in the education industry that were already at play for over a decade .
There have been predictions of online education going mainstream to rival traditional education. This change is sent to be gradual over the years but this virus outbreak may just online education the moment .
It’s been waiting for as digital learning goes mainstream in a hurry that’s going to upend current education practices models and processes going forward .
Traditional education will not go away but online education will definitely mean greater adoption. Online training in businesses will boom post Covey 19 and businesses that position in this space will benefit immensely.
4 – ONLINE COLLABORATION TOOLS
How will the cover 19 pandemic alter the future of teaching and learning.
The Covid 19 pandemic is forcing schools universities and learning and development professionals to sheep from rapidly in person to online learning.
The global lockdown has focused people in large numbers to embrace digital form of connection and online collaboration tools have seen huge growth over the last few months .
As companies rapidly and in some cases also permanently move towards remote working. the market for digital collaboration tools such as Microsoft teams, Google Hangouts, and zoom is likely to grow quickly .
to add to that we’re already seeing growing demand for digital media and entertainment including social media, gaming, news, video streaming and books .
As people seek to relieve boredom and fill the time previously taken up by traveling and socializing face-to-face.
Covid 19 crisis is pushing us to quickly adopt digital technologies remote working in e-commerce .
Alibaba a Chinese online marketplace founded in 1999 got its major boost at the time people in China had to stay at home due to the SAS current a virus outbreak in 2002 .
The quarantine came just as Alibaba was preparing to launch toboe, an online marketplace for consumers that Jack Ma the company founder hoped would compete with eBay in China .
Chinese consumers who were stuck at home started turning to the Internet to order items .
Alibaba benefited from the internet becoming increasingly necessary for doing business during the SARS outbreak as businesses and consumers were dreaming online to buy and sell goods due to self isolation.
People who normally there’s a physical stores are increasingly shopping online the uplift and e-commerce may well become permanent if people remain wary of mingling in real life and increasingly replaced shop visits with online purchases.
You may think ecommerce has already taken off by in most parts of Africa for example only a fraction of the population have bought something online.
After this pandemic and beyond ecommerce will likely gain more acceptance .Among the skeptics will see faster progress towards online retail companies and organizations .
One of the biggest challenges with the current a virus pandemic and lockdown is a threat to food security. While the lockdown may appear to be the solution to mitigate the spread of the virus.
A major consequence is a shortage of food and hike in price covering 19 is disrupting agricultural activities around the world from farm, harvesting to processing and supply.
The closure of restaurants ,eateries and hotels is creating low demand for aggregating. Agric businesses are looking to digital technologies to sell their products although digital technology is not a new concept .
The necessity will get even skeptics to embrace it at the end of this pandemic or lockdown we may face the risk of low food supply this will create more opportunities in the Agriculture sector to produce food to feed the surviving population.
7 – THE GIG ECONOMY
As many companies will not want to have huge number of full-time employees and fixed costs after this crisis. This will accelerate the gig economy freelance works and associated startups.
You also want to start preparing yourself to function in a gig economy
Over the longer term COVID 19 has irrevocably changed the way businesses will compete over the next decade. Businesses that choose to capitalize on this online changes will succeed and the ones that don’t will get disrupted what are your thoughts let’s hear them in the comments section.