Is It Possible To Start A New Business In A Pandemic?

by Startacus Admin
With the world and the global economy reeling from the ongoing Coronavirus pandemic, many individuals have found themselves without a steady source of income.
Even if you’re lucky enough to have been furloughed, and have your job protected, then your future remains uncertain- you can still be made redundant while on furlough, so you need to think about the future.
If you’re entrepreneurial and eager to become your own boss, then now you’ve got extra time you might be considering starting a new business.
It might not seem like the perfect time, but if you work hard and commit to your new entity, then you could achieve the success you’ve always wanted.
To help, here’s a list of factors you need to consider and practical tips to support you as you navigate through this challenging situation and drive your new venture towards success and prominence.
The Future Is Online
One of the biggest changes that the Coronavirus pandemic has made to the global corporate landscape is that it has moved almost everything online. From retail through to customer service and beyond, companies from across the business world have had to adapt to this new situation and offer remote, digital support where possible.
As such, you need to make sure that your new entity has a strong online presence, and that you try to offer a service that can be moved completely online if a second wave of the virus forces the UK government to implement another lockdown. You will need to expand your digital presence and get noticed by your target market and it is quite common for a business to work with a digital marketing agency to acheive that. Outsourcing can be more cost effective that doing it yourself. For example, Ground Up Digital is a social enterprise digital marketing agency that specialises in supporting pioneers and innovators and helping them to turn their ideas into successful businesses.
Recruitment
Thanks to the pandemic, many other businesses have shut down and let go of their staff. As the UK benefits system offers limited support, many skilled workers will be seeking new opportunities. Therefore, now could be a great time to hire the expert staff you need to drive your business forward and help it to grow.
The redundancies in the UK could continue for many months, so even if you need to hire new team members later in the year, you might find it easier to hire the team you require than ever before. To save on costs, use a professional networking site like LinkedIn to search for potential job candidates, rather than working with a recruitment agency.
Prepare For An Uncertain Future
As the Coronavirus still doesn’t have a vaccine or cure, and one isn’t predicted to go to market for months, if not years, you need to prepare for an uncertain future. Make sure that you future-proof your start-up and use flexible, scalable solutions to allow you to prepare for any eventuality.
Whatever the future holds, you should be proud that you’ve started a new business and worked hard to create something unique and game-changing. Continue to put effort and hard work into your business and, hopefully, moving forward, you’ll be able to reap the rewards.
Starting a business during a pandemic, which could potentially proceed one of the worst recession’s the world has seen in living memory, might seem like madness to many. However, for those intrepid visionaries who have the experience and unique ideas to profit and prosper from this crisis, it could be the launchpad for a successful career as a business leader. This article should help you to understand the challenges you face and how you can overcome them with a little perseverance and ingenuity.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
WeWALK, RNIB, and ICL consortium secures UKRI funding to improve mobility for visually impaired and elderly.

The impact of standards, ethics and conduct on business success and profits - Work.Life has some interesting insights...

The lowdown on Space32 - the startup that wants to help hybrid-working businesses find the working space and solution that's right for them.

Global Tech for Good initiative seeks innovative startups and scaleups that are creating positive social impact and enhancing people's lives through tech.

The lowdown on Bidnamic, the startup that's combining advance machine learning with human expertise to help retailers to maximise revenue and profitability from Google Shopping.

Innovative Czech fintech startup 4Trans raises investment to expand first of its type AI driven factoring services across Europe.

Edinburgh-based life science company Cytomos secures funding to support further development of its innovative cell analysis tech.

Ethical Equity and Streets Consulting join forces to deliver Founder Workshop to help close the inequality gap in startup to scaleup funding.

Fancy being featured in this year’s SmallBiz100, which showcases the best of Britain’s vibrant small business community? There's just a couple of days left to do just that!

Screenloop secures major investment to support further development of its AI-driven recruitment platform that helps companies build the best teams and removes unconscious bias.
Published on: 16th June 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Assistive technology innovators and partners awarded £1.7m project funding 1st Jul 2022 WeWALK, RNIB, and ICL consortium secures UKRI funding to improve mobility for visually impaired and elderly.
- How the pandemic affected each industry 27th Jun 2022 New research from School of Marketing reveals the impact that Covid-19 has had on key business sectors in the UK.
- The Finalists of DBACE 2022 are revealed 21st Jun 2022 The lowdown on the innovative young visionaries that are in the running for this year's Deutsche Bank Awards for Creative Entrepreneurs.
- OKAPI: Orbits raises €5.5m for Breakthrough Space Traffic Management Software 13th Jun 2022 Innovative German SaaS startup OKAPI:Orbits secures investment to support its mission of securing efficient and safe operations in space.