Online Business in India During Lockdown
The epidemic and financial crisis is not the right time for new investments and new business start-ups, but at the same time, the time of opportunity has come for smart investors in India. We have analysed the market situation and compiled a selection of the most promising ideas for starting a business in the era of the coronavirus crisis.
1. Food Delivery Service
The introduction of lockdown led to a sharp surge in the popularity of various food delivery services: the number of orders through such services after the introduction of quarantine increased by 80%.
The situation is such that restaurants, which downsize staff during the crisis, simply do not have time to prepare the required number of dishes, so customers wait for hours for their orders. Coronacrisis is the right time to launch a food delivery service.
However, it is worth considering that, perhaps, after the epidemic ends, the demand for food delivery may fall, so it is advisable to invest in a specialized delivery service that will occupy its unique niche in the market. For example, the online service for the delivery of fresh food products from farmers and craft producers has great investment potential.
2. Business in the Field of Medicine
The coronavirus pandemic has already literally loaded with money from pharmaceutical companies and medical mask manufacturers. Even after the end of the pandemic, the demand for medical products will continue as people take their own health much more seriously. Therefore, the coming years will be a good time for the development of many areas of business in the medical field. At the same time, it is worth considering whether it is necessary to invest in the production of antiseptics and masks or to purchase these goods for resale because, after the crisis, the demand for sanitary protection products will decrease a bit.
It is better to take a closer look at various projects in the field of digital health. From 2010 to 2018, global investment in this industry increased by 10 times, reaching $14.6 billion at the end of 2018. The costs of developing medical software will require much less investment compared to the production of the same meds, and it will be easier to implement medical software than to sell pharma drugs. With the right approach in the digital health industry, you can build a truly innovative and profitable business.
3. Investing and Trading
The Forex market has long been the place where there is a great opportunity to make decent money in a pretty short time. Therefore, it is not surprising that more and more people prefer to invest in this particular market. Those who want to invest their funds in the Forex trading market should start with learning the basics on the Forextime India site and be aware that this has the following advantages:
- you can make money by doing your own trading activities;
- you can do algorithmic trading;
- you can engage in robotic trading;
- you can invest your funds in PAMM accounts;
- you can use trading signals on your account;
- you can trade in the Forex market using analytical data.
4. Disinfection Service
After the current epidemic, people will become much more serious about cleanliness and sterility, which will cause demand for disinfection, pest control and deratization services. If you are a small entrepreneur and do not have the funds to open a network of pharmacies, you should think about doing disinfection.
The initial expenses for opening such a business will amount to only $2,000- $3,000, and the enterprise will pay off in six months, provided that you have at least 4-6 orders per month for disinfecting a one-room flat. But you can work with large objects, and in the current conditions, your business will scale phenomenally quickly. Who knows how many months or even years there will be coronavirus outbreaks.
5. The Agricultural Sector and Food Production
The financial crisis has taken a huge toll on almost all sectors of the economy. Against the background of the general decline, the agricultural branch may become a relatively “safe haven” for investors. The main enemy of agriculture is the weather. Due to the abnormally warm winter, there is a lack of moisture in the ground. In fact, in many countries, drought has been established. As a result, the current harvest will be much less than last year.
6. Online Stores
For most sellers who work offline, the lockdown has become a real disaster: trading simply stopped and switching to online is no longer a matter of business development but a matter of survival. During quarantine, online shopping remains the only place where people can purchase a wide range of goods.
Of course, online commerce has also felt the effects of the pandemic, but the industry has benefited from it rather than was hurt. Therefore, the key element for the success of an online store in the current crisis is flexibility — the ability to adapt to changes quickly. It should be expected that after the end of the epidemic, the popularity of online stores will only grow since, during the lockdown, online purchases will become a habit among users. Probably the biggest growth during this time will be in online grocery stores.