Opportunities for Micro Businesses Post Covid-19

The pandemic has forced many small scale industries to run their business in more stant, effective and efficient manner, as a result, a permanent shift in the operation has been observed and most of the entrepreneurs have adopted digital media for having an online presence of their business. On the one hand, most micro-scale businesses experienced a drop in their sales and profit but, on the other hand, it has yielded several opportunities for discerning entrepreneurs. Just as it is often said that every cloud has a silver lining in the same manner various opportunities were also observed by different sector of micro-businesses during post-covid-19 scenario they are as:-

  • Online Education

During pandemic learning institutions had to adopt digital learning tools. For compensating missed classes, cover the courses students are also attending online classes. The demand for digital applications has increased due to a shift in learning models. Various firms have collaborated with these institutions for providing artificial intelligence learning tools.

  • Telemedicine

Lockdown had forced patients to opt for telemedicine and to seek doctor consultancy staying at home. It was noticed that these businesses spotted heavy demand and growth. This habit of consumers would continue even after Coronavirus is over as comfort is loved by all. Medibuddy, 1MG, Medilife etc are some of the telemedicine firms that have observed a massive shift of consumer’s demand towards them.

  • Digital Payment Platforms

To maintain social distancing and to avoid touching currency notes and coins, as it was found that Corona virus thrives longer on paper currency notes and metal. Currency changes hands therefore there are more chances of spreading the virus. Thus this led to an increase in the usage of digital payment methods. This is a kick at the cat for micro-businesses to create innovative digital payment methods for the consumers which are easy to use.

  • E-Fitness Industry

Fitness industry was hit massively by the pandemic. Earning came to zero and no clue when things would become normal. Instructors appealed to their clients to use digital instruction training programs. Adapting to digital technology by the gym instructors was an early bird advantage; this helped them to maintain their earning even when everything came to a standstill.

  • Delivery Based Services

People are refraining from gathering in the market public places and also at grocery shops, as a new normal for upcoming months if not year’s. Delivery based sector advent boom as they offer a safe and contactless way to deliver commodities. The recent turn of events has catalysed this industry to unprecedented levels. People that desist from ordering online are now using such services for each and every penny things.

Conclusion

Covid-19 has caused low fall for many businesses but, has also been a chest of opportunities for innovative entrepreneurs who look at every situation as a field day and are ready to take any challenges. The future is bleak for many of us. There is uncertainty about the growth of the economy and employment looms over for the upcoming quarters but in the cloudiest of whether these micro-businesses would shine and would emerge as the industry leaders.

 

  • By Vanshika Tandon

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