How To Make Money From The Covid-19 And The Problems It Has Caused
COVID-19 definitely changed the way we live and do business. It affected the way we go about our daily activities, how we work, and how we relate with each other. It has created economic and business breakdowns, and has left many with doubts and questions about the future. However, there is no point in crying over spilled milk. COVID-19 has come and done its worse, but now, we have to move beyond our conventional way of doing things and look for new ways to make money.
While many people were pushed out of business due to the economic consequence of the pandemic, some others were able to scale through with their businesses.
Problems COVID-19 caused
Aside from the obvious impacts on health, COVID-19 brought with it other problems that has really affected the world. One of the major problems it caused is in businesses. Following the lockdown, a lot of businesses had to lock down and there is no hope of them opening back, and getting back on their feet. It affected the normal way we have known to do business, and now we have to adapt to new ways of doing business.
COVID-19 affected all segments of the world and it is more evident among members of social groups, and the poor. For instance, homeless people are exposed to the risk of the virus since they have no shelter to keep them safe. Those who don’t have access to basic amenities also stand a greater risk. The virus has increased discrimination, exclusion, global unemployment to people, as companies had to shut down and lay off some people.
The pandemic also affected sporting activities. Sport has been a major contributor to the social growth of any economy, but since social distancing came into play, it has been disrupted.
How to make money from COVID-19
Though some businesses shut down during the pandemic, and could not continue operation, there are still areas you can make money at this time without coming in contact with much people. One positive thing the pandemic did was to show us new ways of doing business, as opposed to the conventional ways we have always known. Change is one of the most difficult thing for man to do, but once forced into it, can be beneficial.
Since the pandemic has come and there’s nothing we can do to change that, we can only help ourselves by sourcing for new ways of making money from it and the problems it has created.
Freelance works allow you to work at your own pace from anywhere, and make your cool cash. Since most people are at home due to the pandemic, more people are online and you can use that to your advantage. Writing, proofreading, data entry and analysis, and administrative works are all works you can do in freelancing. Browse for job postings online and businesses that need the skills that you offer. There are also few platforms you can register on, that gives you more access to these freelancing jobs, like Fiverr, Upwork, Problogger and the likes.
- Online survey
Companies are willing to pay people for doing surveys, reviews and taking quizzes on their platforms. It doesn’t take much of your time, just by answering few questions, you can earn a few cash, and it depends on how many you can answer.
- Work per time
With most businesses closed during the pandemic and quarantine, the few who are open need workers urgently, and are willing to pay even if you work on your own terms. Major amenities that people can’t do without using on a daily basis, like toiletries, food, groceries, and medicine, are still in business and these companies need workers. You can apply for companies such as CVS, 7-Eleven, Amazon, FedEx, among others.
Read Also: How to start a POS Business in Nigeria
- Childcare services and babysitting
Even with the lockdown that you would expect parents to have time for their kids, there are still those who need someone to care for their children. Parents working from home need babysitters to avoid any form of disturbances while they work. This is a cool way to make money from the pandemic, also helping other people in the process.
- Online tutorials
Being an online tutor can earn you some extra cash while you teach others what you know. Since majority of people are at home, they spend most of their time online looking for new skills to add to themselves, or ones to improve on before the pandemic is over. You can teach anything online, from cooking, to fashion, to how to’s, health and fitness, and many others. There are some platforms you can join to make it easier for you to reach more people.
- Sell your stuff online
Grocery and small retail stores are closed, but it has not stopped people from having need of some essentials. You can take advantage of the absence of these stores to meet the needs of people while also making money. You can sell things in your house that are still in good condition, but that you don’t need anymore. You can still obey the social distancing protocol while doing this, and your new customers will be glad for making these things available to them. You can sell your tech equipment, video games, clothes, or furniture on various platforms like Gazelle, Poshmark, Ebay, among others.
- Get your money back
This is one of the easy ways to make money. All you have to do is search if there is any money in your name and you can claim it. This may take long to claim due to lockdown, but you can still give it a try. There can be stocks, refunds or savings account in your name waiting to be retrieved.
- Keep your investments
As much as you want to make money quickly during the lockdown, selling off your investments is not a good idea, rather you should acquire more if you can. Do not make short term decisions based on what is happening. Most people will be forced to sell their landed properties at a ridiculously cheap price, you should take advantage of this. One thing about land is that it always has value, and sure you’ll be able to money off it after the pandemic.
- Optimize your recurring expenses
This is a perfect time to go through all your recurring expenses and shop online at lower prices. Study your bank statements to check what you’re spending money on per month, and you can cancel those that are not relevant, or some subscriptions you’re no more using. Go through your recurring bills and shop around for better deals. You can save up extra money from this, especially if you have never done it before. You can also optimize your water and electricity bills, cut down the use and the bill will drop incredibly.
- Apply for unemployment insurance
You are eligible to apply for unemployment insurance if you were laid off during the pandemic, or you’re sick and quarantined, or even taking time off to be with your family. The requirements for selection varies for different locations, and the payment differs also.
Hope you enjoy this article?
Share your thoughts in the comment session.
Contact us today for your business consultancy and business advisory services. We can help you fine tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write business plan and help with fund raising strategies and Grant applications. We can help you start, grow and expand your business.
Call or WhatsApp us now on 081 0563 6015, 080 7635 9735, 08113205312 or send email to email@example.com and we will solve any of your business problem.