Business Building In Troubled Times

covid building

HUMAN intelligence is being tested.

The smart brains of the world are currently being outwitted by a nimble virus intent on pivoting, innovating and surviving. Traits the human race has been chasing in a world of constant and unexpected changes.

Instead of people tripping up old systems in the name of innovation and disruption, the CoV-2 virus is bewildering humanity and forcing global behavioural change.

For all the technology and the medical advances the human race prides itself on, the COVID-19 pandemic has crippled the global economy. For more than a year, the wily virus has mutated and evaded attempts to curb its spread. 

And that’s largely due to impatience on the part of humans keen to get back to making money, travelling and doing things they’ve grown accustomed and entitled to. 

The arrival of vaccines was initially seen as the beginning of the end of the pandemic. But new mutations of the virus and fresh outbreaks of the disease have kept humanity from going back to a “normal” routine.

New Lifestyles

Now the routine is wearing masks, keeping your distance from people, keeping numbers down and occasionally being forced to stay home.

Being holed up at home is a prison sentence to many. 

But a source of opportunity to others. 

The various new businesses that have started up during the pandemic originate from a mixed bag of circumstances.

Lost jobs resulting in the need to make ends meet. 

New opportunities that have arisen as the lay of the land changes: For instance, the spike in activity in industries like biotechnology and logistics; the growth of online businesses; the need for video technology to bridge the communication gap.

Then there are those intent on realising their dreams, and nothing, not even a pandemic, is going to stop them achieving their goals. Sometimes, the pandemic might work out in their favour, the result of barriers to entry lowering as businesses shutter and capital expenditure drops.

Once a popular fallback, opening a restaurant in these COVID-19 times might be viewed with some caution. Although the unpredictable nature of the COVID-19 infections could result in in-restaurant dining curbs, there have been some new F&B outlets opening. However, with each iteration of a lockdown that results in a control of movement, it’s likely that even more will fold, unable to meet operating expenses. 

With retail stores shutting and malls are emptying out, it’s easier and safer to shop online.

And travel is a distant glimmer, even if Europe has opened its borders and we see stadiums admitting spectators — many unmasked and celebrating their liberty in large groups. 

Will we see a spike in COVID-19 cases in a couple of weeks? Would it have been worth it to fall ill just to watch a sporting team you support hold aloft a trophy?

In tiny Singapore, where residents were quick to hop on a plane to explore other locales,  the travel restrictions have probably hit hard.

Singapore’s stuttering passage through the COVID-19 situation has made for uneasy times. Once praised as an example to follow, it too is learning how to pivot and find its way forward.

A busting economy has always been important to the country’s growth and image; an important showcase to attract more opportunities. 

In this uncertain environment, what would motivate anyone to start a new venture?

Next Wednesday’s lunchtime WED WEB CHAT is on Starting A Business During A Pandemic.

What will our panellists have to say about starting their business in uncertain times? What opportunities did they spot? How will they navigate difficult times? What is their business plan?

Join in the discussion.

The WED WEB CHAT takes place on 2 June 2021 from 12:45 — 1:30pm. Register  via this link: https://zurl.co/Khjr

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