Coronavirus shock is not just physical, it is instinctive, psychosomatic, ergonomic and it is here to stay for some more time. India has been witnessing thousands of coronavirus cases every day. Delhi, Mumbai, and Bangalore have seen the worst-hit. The pandemic has hammered economies worldwide, and the tiniest of businesses have felt the strain. Still, just as every war has a winning and a losing side, some companies managed to prosper sense of the spread of the coronavirus. The country’s economy is in crisis and each citizen has a greater role in restoring the financial health of the country. Further, loss of employment, revenue streams, and health are prevalent all over. Under such circumstances, if you are aspiring to articulate your business idea, then you need to read this article till the end. In this article, let us understand a few of the best business to start with little money during the Covid19 pandemic.
The demand for personal protection equipment like Mask, Hand gloves, Hand Sanitizers, PPE kits, and antibiotic medicines has been rising substantially. Therefore, you can explore these business areas since they are highly practical yet low-cost endeavors. These are the best businesses to start with little money.
- Health and Wellness
With a wide-reaching health trauma in play, it’s a huge opportunity for the health and wellness industry to place itself as essential among the consumers. Branding themselves as a crucial and much-needed support system, this industry is already on a rise to developing the growth perspectives in the future.
People confronting the impending threat of immunity deficiency paranoia, are eyeing forward to anything that improves them stay healthy and fit. Adding to which, the various advisories by the agencies across the world are fostering such things, and which is uncalled-for publicity if not anything else. Also, the demand for such things has risen so significantly that the current entities already have more than their enthusiasm on the plate. Some of the health and wellness products have received an all-time high demand due to Covid19. Let us understand the nature of each business holistically.
Masks are considered as the major preventive instruments to fight against Covid19 across the globe. Due to the sudden spike in demand for masks has left manufacturers baffled about the demand and supply levels. The masts have gone out of stock for many weeks since the demand was substantially higher than the supply. The price of masks has been increased due to the level of demand in the market.
The sudden spike in demand for masks has enabled many small manufacturers to pursue their dreams. Since the cost of manufacturing masks is nominal, even a common man can produce masks and sell in the open market for the price available in the market. The investment required to start this business is as low as Rs 20,000 to Rs 30,000. If you want to take machine support to produce masks, then it is possible to produce 30-40 masks per minute. This way you can enjoy economies of scale (Larger the volume of sales, better the margins even when the prices are low.
B. Surgical Gloves
For many individuals including doctors and nurses, wearing surgical gloves is critical for saving their lives during this ongoing pandemic. By using surgical gloves, we can avoid getting into contact with Corona Virus. The surgical gloves avoid not only the Covid19 infection but also the infections of bacteria and viruses. Some of the major raw materials required to produce surgical Gloves may include chlorine, mold, and latex. The capital requirement would not be more than Rs 50,000
C. Hand Sanitizers
Demand for hand sanitizers rising substantially due to the fast spread of viruses all over. When the big brands have struggled to meet the abnormal demand for hand sanitizers, many small manufactures have started to produce hand sanitizers and fulfill the local needs. Alcohol-based hand sanitizers are in high demand due to their ability to kill the Coronavirus.
Soap is one of the most efficient ways to destroy the COVID-19 virus on human skin. The World Health Organisation has supported washing hands with soap for at least 20 seconds to completely remove traces of the virus from the skin. Folks have been setting up small factories at home with an investment of as low as Rs 50,000, trialling with Ayurvedic herbs, and special ‘anti-viral’ elements to sell soaps, even though health agencies have said any soap that lathers well do the job.
- E-Commerce & Delivery Based Services
With national lockdown levied in various countries, social distancing being observed as the new normal for upcoming months if not years, and people abstaining from meeting up at markets, and public places.
Therefore, eCommerce business is getting traction across the world. Ecommerce business easing the life of consumers by shipping the needy goods and services from the point of production to the point of consumption. Due to the advent of technology, the needs of consumers are fulfilled at their doorstep without creating any need to visit brick and mortar system.
- Co-working Office Space
Due to the Covid19 impact, many a company’s especially small companies have closed their operations. A few companies have been struggling to manage their own office space. Many a company has announced working from home option for most of their employees and only a few have been asked to visit the office on a rotation basis. Under such circumstances, there is no point in paying high rent for the building and incur infrastructure expenses even when it is not utilized. Therefore, companies have been moving to co-working spaces where they get physical infrastructure for their limited employees at a highly affordable cost. Therefore, setting up a coworking space is a trending business in Tier I and Tier-II cities.
Irrefutably, the future is grim for most of us. Economies are doubtful for growth, pervasive unemployment emerges over us for the forthcoming quarters, but not for the sectors and industries stated above. These would remain to sparkle even in the gloomiest of weather. After when the hurricane passes by, these would emerge as the knowledge and industry leaders to watch. That’s all in this article. Hope you enjoyed reading it. Please feel free to share your thoughts in the comment section.
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