Every crisis develops two main things; opportunities and problems. As the globe combats COVID-19 and its devastating effects on people’s lives, jobs, economy, and businesses, many individuals get very distracted to notice the growing opportunities, especially in interesting markets, such as Africa.
Surprisingly, regardless of the lockdowns, business shutdowns, and global pandemic, which came with it, business startups still managed to raise more than $1.4 billion from international and local investors. This year, there are still more opportunities, and some of them, including the following, can inspire and spark creativity to create a considerable wealth:
Multilingual individuals are always in demand, so if you may spend three or more languages, be sure to begin a small business where you may monetize your skills. You may begin looking for customers on sites, such as Flexjobs and Upwork, and slowly establish your portfolio.
Translation remains among the best businesses to start. As you successfully work with many companies, you might hire more translators who also specialize in other languages to take a few things off your plate.
- Selling Diamonds
In the shadow of the tumultuous economy and this global pandemic, customer behaviors are not predictable or ordinary. Though some clear signs point towards healthy recovery when it comes to the diamond industry, depending on consumer appreciation for emotional symbolism of the precious items.
While the lockdown’s effects and anxiety are still felt in nearly all industries, you can sell diamonds online for cash. More than ever, diamonds are still in demand, and you can start an online or physical store to sell the stones.
- Online Tutoring
The demand for online education has basically opened up new opportunities for many entrepreneurs to begin a venture.
You may choose any subject you know of and teach a course no matter where you are located. If you don’t have knowledge in technical subjects, you may teach English as a foreign language online to scholars overseas.
- Develop Cybersecurity Software
From year to year, cybersecurity attack has not been slowing down, and as a matter of fact, it is becoming more threatening. Based on the recent Facebook breach details, more than 45.9 million personal profiles got exposed to attacks.
Anyone with a smartphone is vulnerable to this cybersecurity threat, increasing the need for software to protect people against the attack. If you have a knack for the new technology, you can develop a few software programs to keep hackers at bay.
- Affiliate Marketing
This involves promoting products of other individuals and earn commissions on every sale you make. Currently, Amazon is becoming a very popular platform for affiliate marketing, though there are other local alternatives, such as Jumia.
Similar to successful affiliate marketers, you can combine this business with blogging to establish a seamless mix of promotion and content. You may start this business with little to no capital.
The Bottom Line!
The coronavirus presented a flurry of difficulties, from sharp declines in storefront traffic to short-term closures, mask-wearing, and quarantines.
Therefore, there is no doubt that most entrepreneurs threw in the towel last year. Regardless of this, data indicates that this year will be a great time to start a venture for yourself.