The Covid-19 pandemic has changed industries forever. Almost no business has been untouched over the period, and while many have struggled and had to find ways to adapt, others have offered incredible opportunities for new startups to thrive and grow.
These sectors now look likely to be extremely important in the post-pandemic world, as both businesses and consumers adapt to the changed landscape. Here we take a look at six of the sectors that define the post-pandemic era.
There has been a huge uptake in fintech products over the course of the pandemic, as both customers and businesses have embraced digital solutions. New laws and regulations surrounding fintech products have actually made things even easier for companies looking to roll out new technologies in the sector.
Solutions such as spend management software Spendesk and cost spreading solution Klarna have seen a huge uptake through the pandemic. They aren’t alone - many fintech brands are finding their way into the public consciousness in a change to the finance industry that hasn’t been seen in years.
Coworking and managed office space
Many businesses found that the pandemic actually opened their eyes to the possibilities regarding remote working. Businesses that hadn’t previously considered remote work a possibility discovered that it actually has many benefits. This is especially true for small businesses, who may find that the costs saved from needing less office space are especially helpful.
However, on the other side of this issue is the fact that some workers feel more isolated at home, and prefer an office environment to work in. This is why there has been such a rise in the popularity of coworking spaces. If there is no business office, using a coworking space can provide some of the same atmosphere. So much so that coworking is set to increase by 158% by 2024.
Remote worker recruitment
Another issue hanging over the post-pandemic era is the fact that so many people are looking to work remotely. Indeed, it’s not just employees that see the benefits in remote work, many employers are also interested.
“For businesses, hiring remote staff can help to cut costs such as equipment or office costs,” explains Evie Jenkins of ClearHub “in fact, the savings can be so vast that some businesses have opted to work entirely remotely, enabling them to cut these costs entirely.Hiring remotely also enables companies to expand their talent pool considerably, as you’re not restricted to candidates who live within a set distance of the office.”
The recruitment of specific remote staff and contractors is set to become increasingly important, and businesses are likely to need the help of specialist agencies to fill their roles.
The rise of remote working has had a knock-on effect that has pushed the need for cloud computing solutions. Whether they are in the form of remote working platforms, HR SaaS, or video conferencing software, cloud innovation and adoption has soared. Indeed, worldwide spending on the cloud is forecast to rise to £304.9 billion this year.
Unsurprisingly, ecommerce businesses saw a huge uptake in sales across the Covid-19 pandemic. Amazon was perhaps the biggest winner of the major retailers - as its already enormous profits tripled via a massive rise in sales. But it wasn’t just the big ecommerce retailers that did well. Many startups and smaller ecommerce sites were able to ride the wave of increased traffic.
In the post-pandemic era, it seems likely that businesses will continue to see record levels of business. This is partly because some people remain hesitant to shop in physical stores, but also because some buyers naturally moved to digital sales during the pandemic.
Educational technology has seen a big spike in business as a result of the pandemic. Many institutions were already moving their operations to more digital-led learning, but the pandemic has forced an acceleration of this process. Schools, colleges and universities all had to find works to provide learning through the pandemic and this often involved edtech solutions.
Of course, a contributing factor is the issue that so many people have been interested in retraining through the pandemic. This has meant that educational providers have had to find ways to offer services even where they cannot offer in-person teaching.
Many sectors have struggled through the pandemic, but these six sectors have seen startups thrive. This looks likely to continue in the post-pandemic world that has no doubt been changed by the effects of Covid-19.