COVID-19 Pandemic Creates Successful Business Opportunities for Startups and Entrepreneurs

Akshara

Akshara

Hey, This is Akshara Singh, Crypto Writer at Coinsclone. I have a great passion towards Cryptocurrency & Blockchain and love to share my ideas through impeccable content. If you don't find me involved in writing, I will be a great bookworm.

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The world economy is currently facing COVID-19 pandemic. This pandemic has shaken the government and citizens by impacting the economy all over the globe. COVID-19 is a medical term for the Coronavirus. It is a killer virus that infects people and makes them sick. Also, it is typically difficult to cure a coronavirus infected person. Because many countries didn’t get the accurate vaccine. This virus spreads from one infected person to another quickly.

So social distancing and being quarantined is more essential to control the spread of this virus. Even though the death count is increasing day by day and the count of infected persons is also increasing. This made many countries lose their economic growth. Many countries like the US, UK, Italy, Spain, India, and other countries released lockdown with some conditions to increase the economy of the country.

This pandemic not only affected the economy but also affected the business persons, startups, and investors. Also, many colleges, schools, and other educational places were closed due to this pandemic. Covid-19 pandemic made many people jobless. On the other hand, doctors, police, and the government are trying to save people from the coronavirus. This also affected the financial wealth of every person. The people who earn money by keeping their shops on the roadside and daily workers are getting more affected.

From these situations, we can see how pandemic affected people in their financial growth. So money plays an essential role in our daily life. If there is no money and this will put us in a risky situation. So we need the right business to earn a good amount of money. This pandemic also impacted the financial growth of business class people. But also made some great business opportunities for startups and enterprises. With the right strategy and execution. It is possible to turn this ongoing pandemic into an opportunity for your new business. The current pandemic situation creates a demand for plenty of new ideas. If we implemented well, then this will generate good revenue.

This article navigates to some successful business opportunities through which you can turn the tides of the COVID-19 pandemic to your favor.

Online Tutoring business

More than 1.5 billion learners are completely affected due to this covid-19 pandemic. Experts say that 99.4% of the student population across the globe is suffering in studies. It is because of the widespread closure of educational institutes. It is more than enough to say how bad online tutoring classes are needed for students in this pandemic. If you are from the educational sector then you can go ahead with this online tutoring business.

We can also say that the Online tutoring business is a very decent way of making money from your home. Currently, online tutoring is one of the prominent online businesses. It is why many parents and students are tense because of this board exam and university exam. Also, online exams are coming on so they need an online tutor to teach them. You need to note one thing that online tutors are in demand. Even after this pandemic parents are guardians will look for the online tutors. 

Students are mostly interested in gaining knowledge through tutoring websites. So this is a bonus advantage for your online tutoring business. Many websites are available for online tutors with good pay. Here they ask about any qualifications in teaching. Else you can start a website by offering an online tutoring class. And you can earn monthly income even after the pandemic gets over.

Start a Cryptocurrency exchange

Before knowing about a crypto exchange first you should know about the crypto. The cryptocurrency is the digital asset that is used in trading platforms. The first invented digital currency is bitcoin under the usage of blockchain. This crypto made a terrific boom in the crypto marketplace. As for now. There are many cryptos available in the market for trading. Every day a new digital currency is launching on the crypto marketplace.

Ok now, let us come to the crypto exchange. A Crypto exchange is a trading platform where one can sell, buy, and exchange various cryptos. Such as bitcoin, ethereum, bitcoin cash, litecoin, and the list goes on.  It is a kind of trendy online business one can kickstart. Many startups and entrepreneurs started their own exchange during this pandemic. It is due to its popularity and a growing number of crypto users. In recent years, the Crypto exchange is popular and the best online business. Those who started this exchange business are now successful entrepreneurs. Also, they earned an immense amount of profits. This made many people invest in starting the exchange platform.

In this pandemic situation, many startups and entrepreneurs are confused about how to make money. So starting a crypto exchange will be one of the good business opportunities during this pandemic. Because already many people have started their own crypto exchange. Recently, many crypto exchanges faced hacking and scams in their exchange. Due to the improper security systems. So starting an exchange by integrating some essential security features will avoid cyber-attacks. Also, you can make profitable money in many ways. Such as by collecting trading fees, withdrawal fees, and more. But starting an exchange is not easy. You need to choose the best cryptocurrency exchange software provider in the market. So that you can build a custom crypto exchange easily.

Crypto wallet service provider

A Crypto wallet is one of the important features in a crypto exchange. Because crypto wallets are completely used to store and receive cryptocurrencies. If you have in-depth knowledge of crypto and blockchain. Then you can offer a crypto wallet service as a business. Being a crypto wallet provider will be one of the great business opportunities. You can also provide your wallet service to any popular cryptocurrency exchanges. By providing such a service, you can make an ample amount of profits.

As a crypto wallet service provider, you can collect some fees for using your wallet. Also, you can collect brokerage fees from users for every successful transaction done from your wallet. So this is also one of the good businesses to kickstart during this covid-19 pandemic.

Start a Freelancing platform

Currently, multiple freelancing platforms are available on the internet. Such as 99designs, Fiverr, freelancer, and the list goes on. These websites help you to connect with employers based on skills. So you can launch a freelancer platform for your business. It is also considered as a good business with a minimum investment. In this platform, you can list projects for any categories. Such as social media marketing, freelance marketing, web designing projects, digital marketing, online PR projects, and more. Due to the pandemic, many talented professionals lost their job. So this created a buzz in the freelancing platform. And this is the right time to start this business to grab more of those talented people and guide them to a good job.

Online consultation business

Currently, many skilled professionals are stuck at home due to this pandemic situation. Also, many are facing the risks of being laid off. If you are an expert in giving solutions to any kind of problem, then this business will suit you. Because sharing your thoughts, insights, and knowledge with other experts will help you to make money. There are different consulting services you can offer during this pandemic. Such as business consultancy, medical consultancy, and hosting webinars. So choose any of these consulting services for starting your business during this pandemic.

Write and sell books

If you are a writer and have efficient grammar skills. Then you can start to write a book on any domain in which you are a pro. This is also kind of a great business that you can earn profitable money easily. Publishers will give a huge amount of money for the book sale. Also, they will provide extra money for reprinting your books to avoid copyrights for the publishers. Currently, blockchain technology is more popular in many sectors. Such as banking, finance, healthcare, and supply management. So you can write books on this domain too. Because this will help you to make more money due to its trend in the market.

Final Thoughts

This covid-19 pandemic made many people in a critical situation. Also, we don’t know when this pandemic will come to the end. So if you are ready to start an online business, then choose from the above business ideas. These business opportunities will give you hands in making money during this pandemic. Not only during this pandemic but these business opportunities will be also helpful during the normal environment. Here I have listed only a few business ideas. But there are also other profitable business ideas that help you to gain more profits. So do analyze and research before starting a business in this pandemic!

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