As we make our way through the global pandemic and the raging economic crisis sitting in the house, a vast number of small and medium businesses implement layoffs and pay cuts. Some of those businesses may never recover.
At the same time, other industries are booming, and we are not talking about pharmacies or toilet paper manufacturers. There are so many business ventures that, surprisingly, did not lose their value. Unsurprisingly, those are mostly online operated.
Notwithstanding, here’s a shortlist of business ideas that can still be realized and profitable in 2020. For those who experienced the hardships of the pandemic and need a new source of income ASAP, and those who think that a small side hustle won’t do harm, here are some ideas you can brainstorm on later!
Of course, e-commerce would make it to the top of this list! With so many online platforms that offer you easy and smart operating tools to sell your product and so many people stuck at home with virtually nothing else to do but to browse online shops, e-commerce would make a leap from a profitable to an extremely profitable business. To put it into perspective, global e-commerce sales amounted to nearly 3.5 trillion dollars worldwide in 2019. And this was the pre-lockdown reality. The statistics for 2020 will, undoubtedly reveal a much bigger dollar amount. This comes to manifest that e-commerce is an increasingly lucrative business option.
While contemplating joining this rising wave of e-store operators, think of setting up a business that will be profitable not only now, but in the long run. Consider your passion and abilities. If you are good at handcraft or DIY start an Etsy shop. If not, try becoming an Amazon or eBay seller. If none of these platforms are for you, open up your own website and market it through social media outlets. The tools are out there waiting for you to make your mind up.
Another option that keeps on giving! The demand for writers, editors, and content creators was never as high as it is now, and this tendency does not show signs of slowing down! Businesses are not only looking for writers that are experts in a particular field, but regular people who can simply share their experience or ideas. In other words, you don’t have to have a diploma to start working as a freelance writer, all you need is the desire.
Job searching websites are flooded with opportunities for writers. You can write and deliver your scripts, articles, or blogs from your house. What can be easier?
The average pay for such service varies depending on your skill level and availability. Freelancing also means that you are your own boss and you can make offers that suit you best.
Once again, as all businesses slowly but surely move into virtual space, there are thousands of people looking for virtual assistance. You don’t have to be physically present in the office to make important phone calls, answer emails, manage calendars, organize transportation. In fact, there are so few tasks in an assistant’s job description that require physical presence. That’s why it’s now so easy to become a virtual assistant.
The array of people who can’t do without assistance is so diverse and vast. You can work with a CEO or a movie star, or a blogger. This job can really cater to your preferences.
Something that keeps this world going even during such unprecedented times. Delivery drivers are considered essential workers and there will always and forever be a demand for this job. No matter if you deliver food or packages, there is always a place for another driver in the market. Now, there are some different job options you have to consider. Some employers offer their own vehicle for you to operate, some will require you to have a mode of transportation and all will ask for a valid driver’s license with a clean driving record.
Social Media Influencer
Seems like Social media influencers and Instagram models are having a hard time creating engaging content while sitting in quarantine, deprived of the opportunity to go on the street and take some colorful pictures filled with daylight. Instead, all the regular people have become influencers by posting their recipes, their skills, and tutorials on social media. This is a perfect time to jump on the bandwagon and ride it while you can. Explore your limits and share your discoveries with your audience.
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With so many business ideas in 2020, it can be hard to figure out which are worth pursuing. But let this little hardship be the last on your path to a more stable business.