08
Oct
2020

Brad Beman: Types of businesses you can invest amidst Covid-19

The coronavirus pandemic has affected people and businesses around the globe. The abrupt rise in the number of confirmed infections has unsurprisingly compelled people to stay home, rather than taking their business outside. Thus, online commerce has experienced a mega boom in sales and consumers opt for safer shopping outlets.  This is a small glimmer of hope for businesses around the world as customers seek out safe and socially distant avenues to shop. The trend is expected to continue and even double by 2024. In fact, the monolith of online delivery, Amazon ran out of their stocked household products due to higher demands amidst the COVID-19. The health sector grew by 109%, while electronics saw a rise of 91%. If you are an entrepreneur, the following tips may help you grow your business, even during these uncertain and unprecedented times.

Online business ideas to consider by Brad Beman

Delivery services

Due to the risk of infection, there is a need for contactless solutions. Amid this pandemic, businesses are reaching their customers at the doorstep; no matter what type and size of business you intend to invest in, you need to have a reliable delivery management service. This is how you will build relationships with your customers and maintain a solid reputation during and after the COVID-19 Crisis.

Educational apps

The lockdown and consequent enforced social distancing restrictions have caused schools and colleges to shut down their classrooms and move online. In March 2020, education apps download increased by an incredible 300%. This sector is also expected to increase, so if you are looking to invest in a new area, you would be wise to examine digital education platforms.



Healthcare consultation

As Brad Beman puts it, remote healthcare assistance has played a vital role during the COVID-19 pandemic. Online healthcare is a bridge between patients and medical professionals who want to mutually decrease unnecessary exposure to the virus in hospitals. Healthcare workers can guide their patients through an examination without meeting in person. Thus, the online healthcare system is also expected to be a lucrative industry to invest in.

Fitness and wellness apps

The shutdown of fitness studios has driven people to seek out online workout programs that can be completed from the safety of their home. This sector is always growing as people are interested in diversifying their workout routine. Look into backing an app-developer who has their sights set on a fitness program.

These are examples of the lucrative sectors worth examining for investment purposes. As an entrepreneur or visionary, you can look at these and other opportunities and grow a profit. If you look at these areas of growth, the challenges presented by the pandemic can become areas of profit.  Take care to back platforms and sectors that you believe in, so that you can confidently expect return on your investment. It is important you do not put your money in sectors that are stuck in the past.

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