Did You Know 2021 Is Certainly The Best Year To Start A Business
(So far in 2021, you may have read a ton of blogs that start by saying how horrible 2020 has been. Not that I have any personal grudges against the last one year; however, let’s keep the tradition alive and start with what I think about 2020.)
2020 has been one difficult year for everyone. We have seen a pandemic, locusts, floods, forest fires, earthquakes, equal rights movement, blast in Lebanon, and this sum up to be not even 50% of what has happened throughout the year. However, one thing that it has taught us is to not give up no matter how bad the situation is because, in the end, it too shall pass.
Besides us as individuals and families, the businesses have suffered a lethal blow. The existing organizations had to cut down on salaries, shut down the production, and face the situation of financial crunch as there was literally no income. It was even worse for the startups. Those who planned on commencing new business this year, well, let’s just say they find hope this year.
Speaking of this year, it carries a huge burden of expectations. In terms of societal development, the first five days were peaceful and the year ahead seemed to be hopeful. But we all know how it went from the 6th of January. But that’s not the point. The point is, how is this year supposed to be more fruitful for entrepreneurs all over the world to start a business? Let’s discuss.
Reasons Why This Is The Best Year To Start A Business
Here are the reasons why 2021 is claimed to be the most appropriate year to start a business.
Rare Incident: The Trends Are In Favor Of Startups
To be honest, no person can tell you which exact day, year, or month is a good time to start a business. The only thing that matters is for the market trends to be in favor of the small and the newly established business. Besides, as the world emerges from it’s lockdown slumber, new trends are going to rise.
The trend of traveling is guaranteed to rise from the ashes after a year of being dead. The lockdown restricted any traveling activity, within or outside the country. Now that the vaccine is easily available and being provided to all the citizens, the people are going to fly overseas like a caged bird flying towards the open sky after being released. This trend favors the entrepreneurs who are planning to commence their business in the field of traveling.
Besides, there are those birdies who prefer staying close by their ‘cage’ and come back after a quick flight in the room itself – I mean those people who do not want to travel and they’d rather go shopping in the local mall or markets. This trend is beneficial for the entrepreneurs looking for opening a shop in the mall or in the local markets.
Businessmen planning to enter the event management field should take a dive into the pool this year. Music fanatics and the ‘YOLO’ community are expected to book for concerts, carnivals, adventures, and festivals like bees swarming around the honeycomb.
Foodies all over the globe are waiting for the world to get back to normal so that they can explore the restaurants and eat at their favorite places. Opening up a restaurant or a cafe is a guaranteed success this year. Besides that, the manufacturers and retailers are expected to be a big hit as the demand for fast-moving consumer goods remains constant.
This is the list of just a few trends that are emerging in 2021. It would make an unbearably long article if I sit and list it to you. The crux being – the trends are in favor of the businesses in 2021.
New-Formed Habit: Online Shopping
Sitting in the house, ordering everything online – from food to clothing, medicine, home decor, and everything in between – has become a habit. We have become so comfortable with online shopping that we consider it a hassle to go to physical marketplaces and buy things for ourselves.
In such a scenario, the business minds thinking about opening up an online store, a restaurant, an online pharmacy, or any other business that provides its services online, are without a doubt genius. Moreover, Google and social media provide a free platform for advertising with remarkable market coverage.
It would be advisable for prospective entrepreneurs to focus more on creating a positive online presence for their company. Almost every customer that chooses your company has, without a doubt, gone through the reviews left by other consumers. They also tend to look at your replies to them to judge how good the services would be.
The online wave is set to cover businesses like food delivery, pharmacy, apparels, home decor, footwear, groceries, you name it, and it is online. If you are planning to enter into the business of delivering (like Uber Eat, for example) you couldn’t have thought of anything better.
The conclusion from this is that no matter which business you enter in, you have to deal with the online market.
2021: The Age Of Languor
This generation believes in doing smart work rather than hard work. We might have heard our parents saying how difficult it was for them to even go to school, while our generation enjoys the online classes. Huge organizations use human resource management software to manage their people automatically instead of manually.
Although we might earn more than the previous generations, our work is far easier compared to them. And much like our mentality, we like to accept and invest in the ideas that seem to make our work easier.
This thought has opened the minds of this generation towards new businesses that assist today’s generation in simplifying their work. Companies like Hello Fresh and Hunt A Killer are gaining popularity in western countries because of their unique service of providing food and entertainment at people’s doorstep. Besides food and entertainment, these companies provide the subscribers with unmatched family time.
The keys to making businesses a success today are distinctiveness and minimal efforts required. It is simple to organize things for people so that they have to do the bare minimum. It is more like baby-ing a toddler.
With a little organization and thought, these unique businesses can buy you fortunes.
I Mean To Say
It is not only difficult but also highly praiseworthy and brave of you to gather the courage of starting a business and managing it after going through such a rough year that has left a huge dent in the economy. However, proper inputs combined with the right efforts towards the startup is what makes the business a huge hit.
The pandemic has smacked the economy hard enough to produce the lowest GDP in the last decade. In such circumstances, the risk of getting fired from the job is much higher than the risk you take by starting up a business. Moreover, the returns will be much higher when the business takes off than a mere monthly salary. Everything aside, the market and the mentality of the customers that form the market are all in favor of the new and upcoming business, making this year the right time to start a business.
Meet Vara is an experienced Product Marketer at FactoHR, having expertise in creating various ideas for creative writing. He is passionate about researching and exploring blogs and checking out the latest trends and replicating his expertise in crafting exclusive content. His approach and readiness towards writing quality content are exceptional.