The COVID-19 pandemic made a negative impact on most of the world, affecting the health of millions and world economics. As of the beginning of the 4th quarter of 2020, more than 43 million people have been confirmed positive for the virus that causes COVID-19. During this same period, more than 1.1 million have succumbed to complications brought about by this disease.
Economically speaking, the pandemic has forced a significant number of small- and medium-sized businesses to close. Even big businesses had to terminate a large chunk of their workforce due to the loss of revenues. As a result, unemployment is in millions worldwide. Whatever termination pay was given will not last long unless there is an alternative source of income soon.
OPPORTUNITIES ASIDE FROM EMPLOYMENT
But employment is not the only means of generating income during this pandemic. There is, however, the opportunity to become an employer or set up your own business in an industry that provides an essential service regardless if there is a pandemic or not.
Some have already taken advantage of delivery services, cleaning services, and even online teaching and tutoring. But there are other things people can explore which could offer new business opportunities.
Explore Other Opportunities in Medical Services
People more than ever are concerned about their health, but it has also made medical services more dangerous. Going to the doctor or dentist will not be the same as before. But what if you can provide a medical service by going to their doorsteps?
One such essential service that you could provide is physical therapy. In the U.S. alone, the market opportunity for physical therapy services is estimated to be USD 37.2B for 2020. You can start a physical therapy business and help patients recover from injuries brought about by accidents or medical maladies like heart attacks or strokes. You can go to their homes and doing their routines without having to leave their homes.
Provide Prepared Meals Over the Internet
If you love cooking, why not start a food business with a meal order service on your social media page? Many people who could not care for themselves would have need of your skills. Frontliners would also welcome a home-cooked meal delivered to their places of work. You can start by offering simple meals on your social media page. Starting small is fine, but make sure you give the same meal quality and taste to make an impact.
Provide Tutoring Services
Most parents would like schools to open again, but until that time, most kids would have to stay at home and learn with their parents. But you could offer tutoring services online to help young learners with their schoolwork and lessons. If you are a retired educator or a teacher-in-training, it’s a good time to offer tutoring services where you don’t have to leave your house.
The effects of the COVID-19 pandemic have been felt all over the world, both medically as well as economically. All is not lost, however. There are opportunities in essential services businesses that are pandemic-proof. You can start your own business, make the best of your hobbies and interests, and use the time to expand your knowledge and skills to help these economically difficult times. You can rest assured that your market and income-generating opportunities will always be there, pandemic or not.