This is a unique time in the history of business because of the COVID-19. Certainly, struggling businesses are making headline news because of the virus outbreak. It is easy to acknowledge the fact that starting a small business is a very challenging task. It takes a certain type of independent, entrepreneurial personality to succeed where others bite the dust.
In addition, it takes strong motivation and passion for the work performed. Without these two traits, the business will struggle. These strange times have led to a new day for those in small business.
There are actually several types of businesses that are making big profits during the COVID-19 outbreak while the stock market predicts failure for some once profitable business stock trading ventures.
The Home Delivery Market
Perhaps, you had your eye on starting a business that involved some type of home delivery structure, but was hesitant because the market was already flooded with this type of business.
The good news is that this is a perfect time for anyone with a home delivery based business to exceed and succeed beyond their wildest dreams. Before recent times people would work hard and party hard on the weekend. They would venture out to their favorite theaters, restaurants, and vacation spots.
Now, more and more people are finding it necessary to use a home delivery service like Dominos, Amazon, Walmart, eBay, Target, and others that make it possible to have food to household goods and more shipped to the home. Shopping online is necessary and a growing market. The customer base for this market is getting larger and larger in the recent scenario of unemployment.
Entertainment
Here is some eye-opening facts that should be noted well. More and more people are confined to the home. Of course, those people that are confined during this outbreak are getting restless and bored. They are struggling to fill their days with some sort of structure that also involves entertainment.
Consequently, another type of business that is exceeding during this time is a platform that provides entertainment to those at home. Think about services like Netflix, Amazon Prime Movies, Hulu. They and other lesser-known sources are really exceeding all economic predictions. The work and play at home economy have led to numerous home entertainment services like video streaming expanding, growing, and earning enormous profits.
Remote Services
Remote services are also thriving. Now, it is possible to provide people with the required help while you are at a remote location that is across town or across the world. Clearly, this is very encouraging for anyone that runs any type of remote service for those at home.
Those who are stuck at home still require medical services and some type of home care that is critical to their existence. For example, TeleMed services are experiencing rapid growth because they provide a critical service to people of all ages that are stuck at home.
Other services like remote schooling or tutoring are also exceeding in this new type of economy. These services provide convenience and ease of access for millions on a daily basis.
Stock Trading
The COVID-19 crisis has certainly affected the stock market and stock trading. The stocks like tesla and others are dropping at enormous rates. People are looking for words of encouragement. The Dow Jones just keeps dropping.
On the surface, this might appear like very negative news for the investor or company with the falling stocks. The good news is that this is a good time for the new investor or established investor to stretch their goals out to new markets. This is an amazing time in stock trading history to really exceed once the crisis is over. Stocks are losing points and the market is certainly dwindling. However, some predict that this is the perfect time to buy low and earn profits, once the market starts to recover. For example, striving retailers and specialty stores like Starbucks watched their stocks take a hit. However, people will soon be back to their old shopping habits and the stocks will recover. Thus, making now a great opportunity to purchase stock at lower market prices.
The fact still remains that it is easy to succeed once you find a market that is hungry for a service or product offered by the company.
Final Thoughts
Well, it’s unfortunate that the International Monetary Fund declared a recession. And that the forecasts predict lockdowns to last longer.
Perhaps trading could work out for you. Remember, you need to be a good critical thinker in this industry as it’s not easy to trade. Nevertheless, the hard work and risk in investing could actually pay off.
Also, before you start and jump on stocks, it’s best to find a credible broker or brokerage that would fit your needs. Find the one that could help you succeed in the field. There are a lot of brokerages out there, that’s why you need to only trust the best.
Aside from that, keeping yourself updated is a must in this field. You must be up to date with the latest and hottest news to be able to keep up with the ever-growing market.
Article by Sudip Mazumdar. Mazumdar is a mechanical engineer as well as a passionate blogger. He is a contributor in many renowned sites, including hackernoon and innovationenterprise.
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