• Workplace

    Is it easier or harder to start a business in 2021 compared to previous years?

    Thu Dec 10 2020
    . 3 min read

    It seems counterintuitive to say it, but 2021 may be the best time to start your business – even in the midst of the global Covid pandemic. Coronavirus has changed everything, but experts say that if you want to start a new company, this could be a perfect opportunity. How does that work, though?

    "While there are certainly some incredible challenges launching any business right now, the opportunity is also ripe to launch a new business," said Jeremy Shoykhet, who founded New York City-based delivery service SuperFast in May. "The disruption caused by COVID has triggered people to rethink their entire lives, providing a unique window of opportunity to offer new and exciting brands and services to consumers."

    But before you launch a new company, take some time to think about what kind of industries are faring the best right now. Cleaning services, delivery companies, businesses offering telehealth options – these companies stand to do well in the current situation, as well as after the pandemic passes. Telehealth is offering easier ways for patients to reach their doctors. The convenience factors of telehealth and delivery options offer a major boost to the providers. 

    What if your company doesn’t fall under these categories, though? If you want to open a restaurant, this may not be the best year to move forward. Restaurants, hotels, and other hospitality-related companies face challenges at the best of times, and those challenges are exacerbated by rolling lockdowns all over the world. 

    If you want 2021 to be the year you start your business, make sure to consider how your business model takes Coronavirus impacts into effect. Planning to adapt as much as necessary can help your business stay afloat - both in 2021 and beyond.