financial
Business & Technology

How to Use Quarantine to Your Financial Advantage

Dawn Mikayla

The epidemic and financial crisis is not the right time for new investments and business start-ups, but, at the same time, the time of opportunity has come for the smart investor. We have analyzed the market situation and compiled a selection of the most promising ideas for starting a business in the era of the coronavirus crisis.

IT Sector

The IT sphere, along with the agricultural sector, is one of those areas that, according to experts, will be least affected by the crisis. Of course, the global crisis will also affect IT people, but here one should expect only a halt in growth, but not a decline. It is worth noting that the coronavirus will hit hardest on companies that are working on projects for offline business (first of all, the recession will affect outsourcing firms).

Quarantines introduced in almost all Western countries, including Nigeria, are forcing businesses to go online. IT companies will be the least affected by this because technologically, they have long been ready for the transition to remote working. The quarantine can be expected to increase the demand for teleworking software significantly.

Due to the epidemic, entrepreneurs will massively begin to automate business processes and transfer work online. That is why the developers of CRM systems, cloud data warehouses, online services, and digital business management systems will be on top.

We advise you to invest in companies that specialize in creating digital solutions for teleworking because now, it is a win-win option for an investor. For example, the Zoom video communication service cost $11 billion back in April 2019, and now its price has quadrupled!

Online Courses

Online education is another area that can bloom into the current crisis. Now people have a lot of spare time that they can spend on self-development, gaining new skills and knowledge. What courses will be popular? The statistics of the Preply service show that:

  • 43% of users want to improve their level of a foreign language through online training;
  • 21% of users use online courses to catch up with the school curriculum and prepare for exams;
  • 12% of clients use online courses to learn a new profession, like Forex trading.

Since many offline business workers will lose their jobs as a result of the crisis, the popularity of professional courses is likely to grow. With the help of online training, you can effectively train:

  • programmers,
  • marketers,
  • SEO specialists,
  • SMM specialists, and
  • representatives of other specialties related to the Internet and new technologies.

If you are already a seasoned trader and a regular on the Forextime blog, you can teach people trading stocks and other specifics of this activity.

Online Commission Shop

financialIt is worth highlighting such a type of business as an online commission shop. During a crisis, people always get poorer, and, therefore, second-hand shops become extremely relevant. Classic thrift stores are closed now, so it might be time to open an online one. The key advantage of an online commission shop is that you do not need entrepreneurial experience, a large number of employees, and storage facilities, as is the case with a regular online store.

All that is needed is a small office space and a laptop. You have to create and promote a portal, then the sellers themselves will provide you with the goods, and you will earn a percentage of the sale (goods can be sold, for example, through the eBay online auction). Your commission can be specialized or broad-based. Opening a commission online store requires about $3,000- $5,000 of initial investment, and such a business will begin a financial payoff in 3 months.

Recruiting Agency

At first glance, launching a recruiting business in the era of the coronavirus seems silly because employers are preparing to reduce the staff. However, many companies, on the contrary, are hiring new employees. Online stores and delivery services are facing a shortage of workers. At the same time, the financial anti-crisis measures carried out by the companies will require the hiring of super-qualified specialists and anti-crisis management.

In both cases, HR services will fail, and, therefore, companies will turn to recruiting agencies. Hence, in a crisis, a specialized agency should be created, which will deal with either massive recruitment of employees or the selection of rare professionals.

Conclusion

Any financial crisis for some entrepreneurs is a disaster, while for others, on the contrary, it is an era of opportunity. Coronacrisis will not be an exception. Those businessmen who will be able to invest their capital correctly will win. And to be guaranteed to win from investing, we recommend using the services of investment market specialists who will help you choose and buy the most profitable asset.