The pandemic has brought the world to a grinding halt. People have had to deal with immensely difficult situations in their lives. People’s finances have taken a huge hit as a result of this pandemic. But this presents an opportunity as well, especially for women. There are a lot of small business opportunities that women can establish for financial independence and supporting the family post pandemic. The investment would be comparatively lower, and a small business can be managed without compromising family time. Here are the top 4 ideas you can consider:
Tuition for students
Since schools are closed, children are at home all the time. Parents are finding it difficult to find productive pastimes for their children. This is the right time for starting a tuition center. There are two types of tuition centers that can be in demand: you can start a tuition center for academic subjects like Science, Mathematics, English, etc., or you can start a hobby-based center to teach music, arts, swimming, dance, etc. While you can go the traditional offline route and have a home-based center or a shop, given the current climate, it may be profitable.
Selling masks and other healthcare items
The COVID pandemic has made masks a compulsory part of all our lives. There are thousands of mask options available right now. The need is to stand out by making it more designer and attractive. This can really create a lot of demand, especially among other women. Masks can also be made with fabric available at home. Hence, the input costs become lower. But masks are just the beginning. You can club in a lot of other healthcare items that are required as a part of COVID protection. This could include face shields, sanitizers, gloves, and other non-essential designer items as well.
Creative gifting
Gifts never go out of fashion. People are now looking at creative ways to give gifts to people on various occasions such as birthdays, anniversaries, etc. While the expensive options are always available, everybody loves handmade or homemade options. You can consider making homemade gifts and selling them online or within your network as a business. This takes minimal investment. Instagram and Facebook are two of the best options available for marketing your gifting business.
Food and Bakery
This is an evergreen option that is always in demand. The pandemic has made people conscious of healthy food options, and food from hygienic homely places can have a lot of loyal customers. Since there is a chance that competition can quickly emerge, make sure that you create a menu that is innovative and difficult to replicate. Starting a bakery business is another great option because of regular occasions to celebrate. Once they find it suitable, customers are likely to order constantly from your place only.
To set up your business, you will require some capital for business operations, even if it is a small business. While savings are a good source, you will need an additional source of funds to grow your business. You can avail of a business loan from a trustworthy lender. No matter what your business is, funds at the right business loan interest rates can help you go a long way.
But before taking any such loan, you can check the existing business loan rates of interest on the lender’s website. Make sure that you plan your business cash flows to sustain the burden of EMIs; an online business loan EMI calculator can help you with that.
