There are opportunities in a crisis…

The pandemic has been brutal to most businesses. Pubs, restaurants, the travel industry…I could cite more examples of sectors that have been hugely impacted by social distancing rules and the restrictions of various lockdowns.

However, some businesses—even when we were all practically under house arrest—flourished in the same situation.

It’s a business rule: there are always opportunities in every crisis.

Imagine you made disposable face masks before March 2020: in the pandemic, your market will have opened up from just the healthcare sector to…everyone in the whole world. If you didn’t realise greater profits during this time, you were doing something wrong.

This is an obvious example, but there are plenty of them.

In a global crisis and a fragile economy people tend to lose their jobs. Due to this loss of income, they could struggle to pay their mortgage. Worst-case scenario could see their house repossessed. Financial professionals, lawyers, conveyancers and eviction/enforcement officers make a killing from other people’s unfortunate circumstances. On a similar note, estate agents typically enjoy a boom as people are forced to downsize or move to different areas for available work in a crisis.

There are few jobs for life, but if ever there was one, it’s anyone associated with death. After all, it’s the only thing we’re guaranteed to do when we appear on this earth. Funeral directors, gravediggers and embalmers may not be desirable careers but they’re very secure jobs.

It’s not quite as straightforward, as there are a lot of caveats, but in theory, working in the food industry is another safe bet. Look at the surge in profits supermarkets enjoyed during the early part of the pandemic. Firstly, we all need to eat to survive, and secondly, it was the only thing we were allowed to do! Rather than pulling down their shutters and giving up, many restaurants and pubs saw opportunities when they weren’t allowed to open in their usual manner; they diversified during the various lockdowns and got their food to their customers via take-out and delivery.

As a result of the schools also being ordered to shut their doors in the early days of the pandemic, worried parents panicked at the thought that their offspring’s education could suffer. Private tutors of all subjects were in high demand as a result. Sessions, thanks to technology, could be delivered virtually and presented no health risk.