It is easier than ever for anyone to start a business with or without business experience in this “online age.” The cool thing about starting an online business is the freedom to make money from anywhere. However, there are plenty of small business ideas out there, and deciding on one can be quite a task.
This article is for beginner entrepreneurs considering starting an online business. In this post, we’ll discuss how feasible it is to become a first-time e-commerce entrepreneur, as well as viable business ideas you can consider this 2022.
Is it a good idea to start an online business now?
Aside from the public health threat, the pandemic disrupted the activities of small businesses, large corporations, and even the world economy at large.
Many people had to work remotely, and brick and mortar organizations had to think of creative ways to meet consumers’ needs during this crisis. According to a report, about 41.3% of businesses temporarily closed because of the pandemic.[1] In addition, many people lost their jobs, income levels were reduced, and the world economy shrunk, causing many countries to go into recession.[2]
However, after nearly two years of the pandemic and living with different virus variants, many businesses are coming back up. Despite the massive business closure, the world is witnessing a rise in online businesses as people find new ways to make a living.
It is easier than ever for anyone to start a business with or without business experience in this “online age.” The cool thing about starting an online business is the freedom to make money from anywhere. However, there are plenty of small business ideas out there, and deciding on one can be quite a task.
Is it a good idea to start an online business now?
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Is it a good idea to start an online business now?
The pandemic came with unexpected events that left an effect that won’t be forgotten any time soon. Even now, the impact of the COVID-19 pandemic can still be felt in different aspects of our lives. Aside from the public health threat, the pandemic disrupted the activities of small businesses, large corporations, and even the world economy at large.
Many people had to work remotely, and brick and mortar organizations had to think of creative ways to meet consumers’ needs during this crisis. According to a report, about 41.3% of businesses temporarily closed because of the pandemic.[1] In addition, many people lost their jobs, income levels were reduced, and the world economy shrunk, causing many countries to go into recession.[2]
However, after nearly two years of the pandemic and living with different virus variants, many businesses are coming back up. Despite the massive business closure, the world is witnessing a rise in online businesses as people find new ways to make a living.
It may sound ironic, but sometimes, certain businesses have the potential to thrive during or after a crisis. Many organizations, including Airbnb and Uber, started during the global financial crisis of 2007–2009.[3] Data even shows that there are surprisingly still many business opportunities to explore as the world tries to adapt to the post-pandemic period.[4]
So yes! Now might be the perfect time to start an online business. Entrepreneurs can fill up different industries and niches in the online market space.
The pandemic has made it evident that many things can work online, and this is the best time to start a business in the comfort of your home. From online fitness to online courses and home delivery, many opportunities emerged from the pandemic to cater to people’s changing needs. Online platforms connect businesses to the right customers, and if you have the right business ideas, you will find plenty of opportunities.
The e-commerce business model was widely adopted during the COVID era as many brick and mortar businesses had to close, and many people had to buy online. People are getting used to buying and selling online, so why not make the best of the situation? Individuals with business ideas can take their businesses online and reach a wide range of audiences with the help of different online platforms and tools.
Technology companies and financial institutions are becoming more advanced in supporting e-commerce businesses. Now, it’s easier to start an online store and take payments easily with minimal setup. So, this is a great time to leverage all the tools and resources to open a booming e-commerce business.
