Business

6 Best Emerging business in Nepal Due To Covid19

The outbreak of Covid-19 has devasted the world economy. In Nepal due to the lockdown over 90% of the economic activities have come to a grinding halt. Along with business, the unemployment rate has reached over 11.4 percent and the labor underutilization rate, which includes unemployed, time-related unemployed, and potential labor force, was even higher at 39.3 percent. The state has declared the national GDP has sharply fallen 2.3% in the fiscal year 2019-2020. However, there are several Emerging businesses in Nepal Due To Covid19. Many young startups and youth initiatives businesses are emerging due to COVID-19.

Despite lockdown, their business models have worked and they seem to be emerging even at the time COVID-19 outbreak. Mostly these emerging businesses are online business but there are also production-related businesses as well. Evidently, due to the COVID-19 pandemic, services providing companies are also emerging these days. Therefore, we have amassed 6 Best Emerging business in Nepal Due To Covid19

1. Delivery Service

There was a time when the customer had to wait long days for their ordered goods but in recent years delivery services have just changed the game. Meanwhile, this business is the best emerging business in Nepal due To the Covid19. The trend of e-commerce in Nepal is rapidly increasing these days and on-time delivery is the core foundation of this business. We can say that e-commerce has just introduced a whole new dimension of opportunities for delivery services providing companies. And it is the emerging business in Nepal Due To Covid19. Furthermore, Online business is a crucial part of market segmentation around the globe.

2. Mask Production Companies

The outbreak of Covid-19 has reminded us of the real importance of masks in our daily life. So far, to prevent oneself from getting infected with the virus, the mask is the only proven way. And all around the world, the demand for the mask is high. Similarly in Nepal, demand for the mask is immensely high. There are many domestic industries producing masks to fulfill market demand. Mr. Rajesh Kaji Shrestha, the president of the Nepal Chamber of Commerce, says the domestic industry can address the current market demand if the government is ready to extend the needful support.

Emerging business in Nepal Due To Covid19

However, health experts say that Nepal still rushes to buy face masks amidst the outbreak ut there are none available. It clearly shows the shortage of masks in the Nepalese market. But those who are still manufacturing mask in Nepal is having high revenue. Hospitals, NGOs, and companies are purchasing and distributing among their staff and communities. And it is the emerging business in Nepal Due To Covid19. So evidently, it is clear that due to the outbreak Mask production business is rising.

3. Social Media Marketing

Basically social media marketing is the way to promote business and services in the social networking platform or we can say in the net. Hence, due to lockdown and social distancing people are compelled to buy most of their goods through the web. And social media marketing is the way to aware customers of specific products and services. Therefore, most of the business owners are advertising their goods and services in net. it has enabled social media marketing companies to gain many clients who are eager to sell their products by advertising them online.

In Nepal everyone wants to sell their stuff online, so most of the business owners are hiring social media marketing experts to grow their business. So, there is no doubt that in this pandemic, Social media marketing has become a high revenue-generating business sector.

4. Sanitizer Production Company

The sale of substandard hand sanitizers is on surge around Nepal. Currently, there is a massive demand for hand sanitizers in the Nepalese market. And similarly, as a mask, there is a shortage of hand sanitizers in the market. However, seeing the golden opportunity, many mid and small scale industries are coming out with their new hand sanitizer products. The outbreak of COVID-19 has drastically increased the demand for hand sanitizers and the people who are in the business of sanitizers is having a high level of sales these days.

However, there are many Incidents occur in which inferior quality hand sanitizers are marketed. This has demonstrated the vulnerability of customers to purchase these kinds of products. Two weeks ago, research conducted at the Nepal Science and Technology Academy (NAST) found that around 45% of hand sanitizers sold on the local market are not appropriate for use.

5. E-commerce

The growth in information and technology in the rural parts of Nepal has created fertile ground for e-commerce. The increasing rate of use of platforms like Facebook, Viber, Instagram, etc has made it simpler to sell the products and services on the internet. Companies like Daraz.com and sastodeals are the leading e-commerce platform in Nepal. Meanwhile, in recent years, Nepal has witnessed so many e-commerce startups. And after the pandemic, many entrepreneurs have decided to consider an online platform to sell their products.

The market has been shut down for several months, due to which many businesses have suffered from a devastating loss. But doing online business has given some degree of relief to them. Therefore, we can say that pandemic has shown the importance of doing business online, and currently, it is the emerging business in Nepal Due To Covid19. At the same time, this kind of business model has risen as well.

6. Online payment Services

Although there are no platforms for international online payment. But there are platforms like Esewa and Khalti which are responsible to introduce an online payment system in Nepal domestically. Now people can pay their electric bill, water bill, they can even book various events and even they can use these platforms for various transactions. Therefore, perhaps due to the outbreak this sectors has also emerged and Nepalese people are using these sites in their regular life.

In a lockdown, people have used these sites to pay their bills. Officials have mentioned that online payment has become as important as other financial institutions’ services. Moreover, due to shut down people even have used online payment platform to transfer and load funds as well.