America is home to more than 32 million businesses, and before COVID-19, those numbers were on the rise. A year-long pandemic and its subsequent lockdowns, however, have forced more than 160,000 businesses to close. While it’s been nothing but bad news for many business owners, some entrepreneurs are finding this to be the right time to start a business. Here are three ways the global health emergency has helped some start-ups.
Pick Your Place
Location is everything for many businesses, but prime real estate is often hard to come by for small business owners. The unexpected closings of so many companies, however, has flooded the market with available office space. Even in Manhattan, one of the most bustling places on earth, COVID-19 has left around 14% of its offices unoccupied.
Entrepreneurs now have their pick of unused offices and vacant buildings, some in locations they could only have dreamt of renting pre-pandemic. There are also more pre-owned cubicles, computers and other office staples available at discount prices. Before making a purchase for your business, check around for used office furniture Indianapolis or in your area.
(Some) Business Is Booming
Lockdown orders are keeping millions of Americans safe at home, which has created a growing need for meal preparation and delivery services. In the wake of school closings, tutoring businesses have sprouted to provide children with quality education. Manufacturers are turning a profit and benefitting the country by producing personal protective equipment. Those businesses that have remained open to the public throughout the pandemic require frequent sanitization, giving a big boost to cleaning services.
A Wealth of Workers
The millions of Americans left unemployed from COVID-19 are all potential employees for your business. There’s currently a rich talent pool to choose from, with no shortage of experienced, capable and quality workers ready to bring his or her talents to your organization.
If you’re looking to start a business, the timing could be better than you think. Consider these topics when weighing your plans.