Starting a business during a lockdown and recession, especially, during this pandemic which is being compared to the Great Recession, seems like a bizarre idea. However, in the past, such “bizarreness” led to the founding of companies like Microsoft, Warby Parker, and Maruti Suzuki. Thus, here are 7 ideas for starting a business during a lockdown.
There are numerous entrepreneurs that didn’t exactly wait for the right timing but turned the tables according to their businesses. However, there are the right ideas. While some of the businesses have been facing losses due to Covid- 19, with the right ideas businesses can lead to fruition.
Ideas for Starting Business During Lockdown
1. E-Learning Company
More than 1.2 billion children, in 186 countries, are out of the classroom. Therefore, there has been tremendous tension regarding the exams. With the increasing concern in students, parents, and teachers, an E-learning company’s demand is higher than ever. To start slow, you may start with the area of your expertise and build a team as you move ahead to provide a platform for learning.
Also, learning doesn’t necessarily have to be of subjects. Gone is the era when parents or students preferred a closed classroom. An understanding of skills over education has been rising, which leaves an open platform to teach art, music, or any other talent you may have to share with the world. Now is the time to start a business out of it.
2. Cleaning Services
The one thing everyone cares about right now: sanitization. Commercial buildings, hospitals (and other medical facilities), and public places need to be the safest, thus, cleanest places to be. Thus, providing cleaning services can be your breakthrough idea for starting a business amid lockdown.
Companies like Maid To Clean and Tidy Choice offer an online platform to book cleaning helps domestically. That includes houses, restaurants, hotels, and other venues. With the increase in the importance of sanitization in India, cleaning services are expected to do better than ever expected.
3. Resume Builder
Employment opportunities have been improving in India in recent past years. However, the Covid-19 pandemic has sure changed things and led to an increase in furloughs or firing employees. Although, understandably, companies want the best to give them better results amid the economic downturn.
Having said that, not all the employees know how to put down the best version of themselves on a piece of paper. Those who do know how to build a resume, sometimes end up making rookie mistakes. Around 77% of resumes are rejected due to grammatical or typing errors, that is your potential market as a resume building company.
This Google-owned free platform, YouTube, has seen a 20.5% rise in subscribers’ base. Due to the lockdown, most people are dependent on online content to maintain sanity. Therefore, there has been an evident increase of 2.5 hours by an average user on social media.
Besides being a low-cost business idea, being a YouTuber also has a wide range of options in the niches. You can upload your music, start a gaming channel, or simply Vlog. If you ever planned on starting a YouTube channel (like so many of us have), or want to grow one you already have, doing so amidst lockdown may turn out to be quite beneficial.
5. Gaming Startup
As we are restricted within the four walls of our houses, the gaming industry of India has made its place among the top five in the world. Besides the online content to read, listen, and watch, online games are a huge part of our lives now. According to psychologists and neuroscience experts, gaming helps in brain stimulation, that is currently required as it is facing hurdles due to a lack of possible activities to perform.
Also, since the lockdown, the demographic has also been widened for gaming startups as there has been a significant rise in users of age group 25-35. So the market has just been wide-open for game developers and gaming startups.
6. Graphic Designer
This lockdown has certainly pumped up the creative juice amongst artists and designers. For those who know how to take this creativity online, such as graphic designers, are in huge demand. Numerous online startups are starting in the lockdown. Also, even well-established businesses are understanding the importance of online presence. Therefore, there is a need for graphic designers to make logos and creative images for the websites. Above that, there is a dire need for good marketing amongst these tough times for businesses Thus, visual aid like banners and other marketing materials are more than required by businesses worldwide.
7. Freelance Agency
An estimated 12.2 crore Indians lost their jobs during the lockdown. That is a frightening fact. So what can be done about it?
More and more companies are hiring employees for a shorter period of time to get the work done. As the uncertainty rises, companies and employee candidates, both, are becoming unsure about the way ahead. However, there are companies like Freelancer and Upwork that are doing well amid the lockdown, mainly due to the high flexibility provided to job seekers and employers. An Indian market needs agencies that bridge the gap, confusion, and trust between the two parties while clearing out unemployment.
While considering all the risks associated, it will help you a lot to consider your skills regarding ideas for starting a business during a lockdown. Because the lockdown will end, but we hope your business will grow. And to assure that, you must feel connected to your business idea.