5 changes in the Start-up Industry after COVID-19
June 02, 2020
"We couldn’t have imagined then how much could change, and how quickly, for so many people around the world."
Before COVID-19, start-ups were thought to be as the sole healer of our falling economy. But the shock by COVID-19 on Economy itself, taking the start-up industry somewhere near the abscissa or maybe even worse. But how hard it hit the start-ups, could only be marked after the end of this pandemic. Undoubtedly, this pandemic will have a critical influence on the spirit of any entrepreneur. Even the selection of start-up by VCs, Government, and investors for funding may change for a long time. It may alter the whole idea of working. I have brought some changes that the start-up industry may see after this pandemic:
Work from Home
As lockdown started all around the globe: companies are letting employees work from home. Eventually, it ended up being more productive for many companies. Many companies are already making policies to adapt this after pandemic gets over. It might be more productive for employees as well, working at home with pyjamas on, and staring at the last slice of pizza on the table…what do you think???
Freelancing
Yes, Freelancer!!!, the most relaxed person sitting in the room with his laptop and a Can in his hand, can be the future. Companies can look forward to hiring these guys in the future. As the economy of the whole world is going down: companies are rushing to lay off many employees, and at the same time getting suggestions from the government bodies to not fire their employees. It’s not easy for small companies to pay people without any business. They do not want to be in this dilemma again, and companies will go for contract-based workers. So guys, what are you waiting for buckle up and upgrade your skills.
Online Meetings
COVID-19 is forcing employees to work from their homes. But thanks to technology, they are still active behind the screen. There are many apps available in the market, but for security reasons, many governments have invited techies to create new platforms. Many will adopt this in the post-pandemic phase as well. Companies are getting realized that instead of investing on the journey for meetings, why can’t they do the same on an online platform which can eventually save a lot of money. There will be a lot of new start-ups in this domain, and the most secure will win the race.
Adaptation of Automation
And as the COVID era has begun, it minimized the production because of the lack of human efforts. Now they will push themselves to create many automated systems to decrease human intervention. And of course, this will lower the production cost. So in my opinion, Automation could be the next BIG THING!!!
Funding Pattern
Yes, money matters the most. And the people who have the money will also think differently. Unquestionably, the government will now promote Health-relatedstart-ups. And private investors will turn their faces towards start-up having idea on health and automation sectors. So guys, do lot of research before investing your efforts on any start-up.
No one knows when the vaccine, for Coronavirus, will surface the market until then we have to take care of everyone. Things will not be the same, as they were before COVID-19. We can do only one thing; get ourselves prepared enough to survive in the post-pandemic era. The market will open slowly, and it has to open in a phased manner. Let's hope for the best and support each other.
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