As COVID-19, colloquially known as coronavirus, spreads around the world, numerous countries have closed their borders. Within individual nations, further lockdown measures have been instituted. Certain states in the US have implemented a ‘shelter at home’ policy, while the United Kingdom and Switzerland have recently announced the forced closure of all bars, restaurants and cinemas. Anyone who is physically able to work from home has been encouraged to do so. Large-scale events such as Coachella and Glastonbury have also been postponed – even the Olympics have been delayed till 2021. All things considered, this period is incredibly hard on members of the hospitality and entertainment industries. As we stock up on groceries and prepare to hunker down behind closed doors, now might be an ideal time to seize the opportunity to start a business. In this article, we look at the best small businesses to launch during a lockdown.
1. Remote tutoring
With UK schools now closed, children will be faced with unstructured education for the near term. Some schools are continuing to offer online classes; however, kids are notoriously attention deficit. Not to mention, teachers exist for a reason. There could be a gap in the market for personalised, virtual teachers who can walk children through their internet lessons and answer any questions they have at the end of every day. By starting a business, you can partner with experts in a variety of subjects and create a comprehensive curriculum that parents would be happy to pay for.
2. Queuing at the shops
Grocery stores remain open, but the internet rumours of empty produce shelves and toilet paper shortages are rooted in fact. Whether vulnerable or low risk in terms of the virus, people are all falling victim to the stockpiling crisis. At this point, the only surefire way of getting in-demand items would be queuing prior to a store’s opening time. Many people are unable to do this, due to caring obligations or their vulnerable health status. A temporary start-up could cater to those individuals most in need of shopping help, and queue (and shop) on their behalf.
3. Virtual assistant
Our home and office jobs have gone remote. Now could be the perfect time for an e-assistant start-up to enter the market. While clients struggle to manage their overlapping home and work lives, you could manage a team of virtual PAs who will organise finances, grocery orders, and other time-sensitive items of business.
Launching a small business during a lockdown – where to find out more
If you’re launching a small business during the coronavirus lockdown and need to explore finance options for funding or expansion, please get in touch with us.
Tower Leasing have supported the investment and growth of over 40,000 SMEs. No matter what your plans are, we have the business finance products in place and the expertise to help you see them through. Read about our business finance options here.