Posted on: 08 December 2020
The COVID-19 pandemic has, unfortunately, caused hundreds of thousands of job losses, leaving many people wondering how they will be able to support themselves. Many will look for new employment opportunities, but some may consider becoming self-employed.
It may seem like a challenging time to set-up a new business and become self-employed. However, with the news of COVID-19 vaccine developments, life will hopefully return to some form of normality in 2021.
This presents an opportunity for entrepreneurs to start businesses to fill the gap left by the losses of COVID-19. We have previously looked at the businesses with low start-up costs, but in this article, we are looking at some of the types of businesses that may be in demand once the pandemic draws to an end.
Post COVID-19 business opportunities
COVID-19 has changed consumer behaviour and created gaps in the market in some industries, that may present new business opportunities when lockdowns and restrictions start to ease and people can get out into normal life again. Take a look at some of these ideas that you could use for yourself:
1. Delivery service
Due to the COVID-19 pandemic, there has been an increase in the number of people shopping online. It is estimated that there was a 129% increase in internet shoppers in the UK and across parts of Europe because of COVID-19, with further research showing that 17.2m people will continue to shop online in the future.
This has created a huge demand for delivery services, that is looking likely to be a remaining trend. Setting up a delivery business could be as simple as buying a van and working with local SME businesses to secure deals to deliver products for them.
2. Digital services and consultancy
It’s not just shopping that has seen a boost in online usage. Many activities are now going online, including working from home arrangements, virtual assistants and tutoring. Marketing has been going digital for a long time now, but COVID-19 has given many businesses the push they need to go digital.
If you have expertise in any of these areas, offer your services as a consultant on how other businesses can take themselves into the digital world, or offer digital services yourself.
See our guide on how to start a consultancy business on a budget.
Throughout the pandemic, cleaning has been one of the best methods of keeping the virus at bay, however, during lockdowns, and in some tiers, cleaning businesses have not been able to operate.
As life starts to return to normal, there could be more of a demand for cleaners as people start to get back to their busy lives, creating more of a demand for cleaners.
A cleaning business is relatively easy and cheap to start up, so consider this option when the COVID -19 pandemic comes to an end.
See our guide on how to start a cleaning business on a budget.
4. Dog walking or grooming
With many people spending more time at home because of the pandemic, they have been able to spend more time with their four-legged friends; walking them and making sure they are clean and groomed. However, when people start to get back to regular life, they may have less time to take care of their pet’s needs.
Starting up a dog walking, grooming or training business could be a lucrative move as the pandemic comes to an end as people may not have the same amount of spare time to spend on these activities.
5. Hospitality or leisure services
Before the pandemic, the hospitality and leisure sector was one of the biggest industries in the UK but has unfortunately been one of the hardest hit by the COVID-19 pandemic.
When people can finally spend more time outdoors, eating in restaurants or drinking in pubs, there may be a demand for these types of business for people to enjoy their post-lockdown freedom. Starting up or investing in a business in the hospitality industry and you can reap the rewards when people start to enjoy getting out and about again.
Consider starting a business in the leisure industry such as an independent travel agency, tour guide or leisure activity provider, or a business in hospitality such as a café, pub, restaurant or hotel.
We have previously published a guide on how to set up a mobile coffee business which will be a great starting point for setting us a small hospitality business.
Business insurance with Premierline
If you are starting a new business, you will want to make sure that it is protected against unforeseen risks.
With Premierline, it’s simple to compare business insurance quotes online if you know your insurance requirements. However, if your needs are more complex or you need advice on the insurance covers that are right for your business, call us and we’ll be happy to help.
Compare business insurance
The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.