Although more than a third of Australian businesses are expected to struggle in the coming months, there are still industries that are managing to stay afloat or even expand in the wake of COVID-19.
Whether it’s adapting their business model to accommodate for a COVID-normal world, or that their services are increasingly in demand, it’s wise for those who might be considering the launch of a small business to know the likelihood of success.
With that in mind, here’s a brief overlook at what industries — and the businesses within those industries — that are sitting relatively comfortable in comparison.
Healthcare
It should come as no surprise to anyone that the healthcare industry has remained reliably strong throughout the pandemic, with a projected 15% growth of jobs predicted by next year.
The strain on the healthcare sector has been immense in the past year, yet the implementation of measures like virtual healthcare training will likely carve a steady path forward.
Outside of aged care and mental health, which have been particularly strained, there are opportunities for businesses dealing with small-scale services like medical transcription, medical supply sales or dispensaries to find a decent footing.
Transport / Delivery
Hospitality has arguably been the most high-profile casualty of the past several months, but that doesn’t mean certain branches aren’t successfully veering in a different direction.
ABC recently profiled Henry Yu, a fruit and vegetable wholesaler who lost an undetermined number of clients due to the closure of restaurants in his area. Yu moved his services online and reached more than 8,000 potential customers.
Similarly, local delivery driver Melky Sanjaya says that his income has increased by 50% due to the high demand, proving that a well-equipped vehicle like the Hyundai iLoad and the right client base or employment can result in a positive outcome.
Education
There will always be a need for education, and as many students fear they’ve fallen behind due to the precarious learning situation they’ve been subjected to, demand for tutors and extra-curricular learning could foreseeably skyrocket as the Victorian Education Minister pledges $250 million to go towards tutoring resources.
With this additional funding, the Government has, at least in part, validated the importance of education, meaning a strong likelihood that small tutoring companies will be sufficiently stable.
IT
As we continue to push forward with the help of online resources like Zoom — which has seen an exponential spike in popularity — the need for IT workers has also increased.
If you’ve got the computer know-how and are looking to start small, this could be a great time to expand on your ideas and take the leap — having done all of the appropriate research, of course.
