At the moment with the never ending sight of the pandemic waning away, obviously there’s a high degree of uncertainty in the world.
For some though, in this unprecedented time, it’s the perfect opportunity to start a business. Historically, after every financial crisis, innovation and creativity tends to spark new businesses alive.
Not to be mistaken, it is obviously a challenging time, but at the same time with adversity does come opportunity.
If we were to take a simple example, like a café, people just might not be visiting. You might not be able to be open at the moment, but if we observe consumer behavior, there’s still huge demand for coffee.
What we are seeing is huge surges especially in online demand. So for coffee businesses, there is an opportunity to offer items that might be coffee beans or equipment to make coffee at home, basically to help people with their at home coffee needs.
In the United States especially, since the lockdown began, there has been a nearly 100% growth in e-commerce and retail revenue, and it is the same story across the world.
Another reason to be optimistic is that there’s a lot of talent out there looking for work. Obviously, it’s unfortunate that a lot of people are out of work. As a small business owner, you have the unique opportunity to hire talented people you might not have had access to. Between February to June 2021, the number of job applicants per job has increased by 16% in the United States alone.
Obviously a lot of us are spending more time at home but lots of services can help you get a fully functioning business with a laptop and a few credit cards within a day. You could build a Website now without knowing a Web Developer. Internet speeds are faster than ever. There’s tremendous support from governments and from the communities. It has never been easier to start a business from home.
Starting a business right now can be scary and terrifying but it’s also really exciting. Smart investors are still investing and over the next years we are going to see thousands of small businesses and entrepreneurs follow their dreams. So there’s huge opportunity for those entrepreneurs who are brave enough to start their business today.