COVID-19 has taken its toll on the global economy in the most unthinkable and unimaginable ways and the global economy is experiencing an all-time low. This pandemic has inflicted damage and affected the overall health of the MSMEs and entrepreneurship that generate a heavy revenue contributing to the economy. It is crucial to think of how to stay relevant these days and to help you with that, we've shared a few start-up business ideas that won't let you down.
There are some businesses that are either unaffected by COVID-19 or have flourished even more, standing the test of time. In this article, our objective is to introduce you to 4 such industries that have proved themself to be "corona-proof" and can end up being the best businesses to initiate your start-up.
1. Over The Top Platforms/Online Gaming
Nobody can deny the fact that all we have been doing these lockdowns is watching movies and TV series on OTT platforms like Netflix and Amazon Prime Video. This fact itself proved that viewers, who have been quite anxious about the ban on movie theatres and gaming parlours, have resorted to the over the top platforms and online games. The people, especially the older generation, who initially were not very comfortable with the change, are now welcoming this change with an open heart. This shift in the interests of the viewers has proved that this industry will continue to bloom even after the pandemic is over!
From the worried parents to many of us sitting ideal during these lockdowns, the EdTech industry has emerged to be the biggest support. Where on one hand, students were able to learn from home, millions of us across the globe have leveraged Edtech and enrolled ourselves in many courses. EdTech has not only helped students repair and recover their disrupted schedules, it has given many professionals a chance to develop new skills and hone the already acquired. Now that EdTech has proved its mettle, we cannot help but accept that, come what may, this industry is here to stay!
3. The Health Industry
The health sector has been the one that has evolved dramatically of late. It has been the time where the health and wellness businesses have boomed because of how aware the world has become of their health and well-being. We all must have received this advice, directly or indirectly, to boost our immunity as it will help us keep fit and less prone to the infections out there. Making them most important in our lives in these unprecedented times, they are certainly going to experience a boom.
4. E-commerce platforms
We all know how brick and mortar stores have been hit the hardest as people have restricted their outdoor visits in a bid to maintain social distancing. The industry that has leveraged the most out of these restrictions is the e-commerce industry! There has been a major shift in the behavior of the consumer as they were forced to go online to make the necessary purchases. Now that the consumer has started to feel comfortable buying online, they are preferring to buy almost everything online. It goes without saying that this industry is cherishing this rise in the business and riding high on the pandemic boom.