The COVID-19 pandemic was a global crisis that crippled the world’s economies. It caused billions of dollars in damages to property and businesses, leading many people to close their doors for good or lay off staff members who were not essential to operations. But the COVID-19 pandemic also created opportunities for other business owners around the world.
For instance, companies like ThynkEd can capitalize on the pandemic by providing opportunities for people to learn about new things from the comfort of their homes. Since then, other similar businesses have popped up, and they have all capitalized on the impacts of the COVID-19 pandemic.
Businesses that Boomed During COVID-19
The COVID-19 pandemic is a global health crisis that negatively affected the lives of millions of people. A lot of people lost their jobs and financial security. Many people also lost their loved ones, which affected their lives negatively.
Many businesses were forced to close during the COVID-19 pandemic because it was simply not safe for people to go out and about. Governments around the world mandated people to stay in their homes to prevent the spread of the novel coronavirus.
This has prevented a lot of business owners and entrepreneurs from generating profits as their customers were not able to purchase products and services. As a result, some business owners had no choice but to close shop because they could not generate enough revenue from the lack of sales.
On the contrary, there was also an increased demand for certain goods and services during the COVID-19 pandemic, which has benefited those who were able to provide them. Below are examples of businesses that boomed during the COVID-19 pandemic:
- Food catering and delivery services
One of the business opportunities that boomed during the COVID-19 pandemic was food catering and delivery services. Because people could not leave their homes, restaurants and fast-food chains were hit hard by this development as they were receiving fewer customers than usual.
As a result, many opted for home delivery instead so that hungry customers would not have to go outside. Businesses that provided this service could benefit from the pandemic because of increased demand for food catering and delivery services during the COVID-19 pandemic.
- Online education
Online education was another business opportunity that had the potential to grow during this pandemic. With people having more time on their hands, they were able to consider taking some courses online, which was why many educational institutions saw an increase in enrollment rates during the height of the COVID-19 pandemic.
As for those who wanted to take up new jobs after graduating from school or college, the pandemic might have worked as an advantage to them. This is because they could get jobs online while working from home. They paid to learn new skills online so that they could start using these skills to earn more.
As a result, online education businesses prospered during the COVID-19 pandemic. After all, more people had more time in their hands. Therefore, more people were able to enroll in different online classes.
- eCommerce stores
eCommerce stores also saw a boom during the COVID-19 pandemic. Since there was an increase in demand for products that could be purchased online, more people started to open eCommerce stores.
eCommerce stores became very helpful during the COVID-19 pandemic because people could buy the products that they needed without having to leave their homes. This was very convenient for people because they could avoid the crowds and the long lines at stores.
- Freelancing platforms
Freelancing platforms also saw a surge in popularity during the COVID-19 pandemic. This was because more people needed help with different tasks that they could not do themselves. For example, many people needed help creating content or doing data entry. These people then turned to freelancing platforms to find the help they needed.
- Residential and commercial cleaning services
Residential and commercial cleaning services also saw a surge in business during the COVID-19 pandemic. This was because these businesses helped people keep their homes and business premises clean when they were busy working long hours or could not leave their homes due to quarantine restrictions.
People became more conscious about the cleanliness of their homes and business premises. As a result, they entrusted cleaning tasks to cleaning companies because they felt more confident that these businesses would do a good job.
Capitalizing on the COVID-19 pandemic
Despite the hardships that people faced during the COVID-19 pandemic, folks also had opportunities to earn more income. Some business owners took advantage of this situation and increased their market share because they satisfied customer needs better than other businesses did at the time. The businesses enumerated above were examples of the businesses that boomed during the COVID-19 pandemic.