In recent months, as a direct consequence of the pandemic suffered by Covid-19, the economies of the countries have slowed down and neither Spain nor the Canary Islands escapes this effect. The data show that in the Canary Islands 200,000 workers, mainly in the service and tourism sectors, are affected by ERTE, and more than 11,000 companies have been lost in the Archipelago.
According to Social Security data, the Canary Islands provinces are among the most affected at national level. The dependence on the service and tourism sectors means that, in the face of the closure of these activities, the direct impact on GDP and the number of companies and workers is direct.
Entrepreneurial management in times of pandemic
Not all indicators are negative. It is always said that in periods of crisis new opportunities also arise, which can be used to generate a new business, transform the model, undertake and generate trends.
In times of crisis and uncertainty, we can always take action and remain paralyzed. And in entrepreneurship, if we want something, we activate an action plan to try to successfully overcome obstacles.
coronavirus services survey
The pandemic has generated opportunities, it has accelerated processes of change and transformation that had been pending for some years, such as the digitalization of companies, teleworking or online training.
At a time when the planet is immersed in an unprecedented health, social and economic crisis, digital, technological, audiovisual, health, etc. entrepreneurship has grown, and useful projects are being promoted as a result of new problems, different demands, and changes in consumption and leisure patterns.
Experts, CEOs of international companies, are identifying areas that in the medium and long term will be a source of opportunities for companies and for seeking employment, some of them are:
Content marketing and social networks
Businesses and companies are increasingly turning to networks to find customers, have a presence, consolidate their brand, sell… They will continue to grow exponentially, both in terms of specialized professional profiles and in the development of associated technologies.
By 2020, 85% of companies worldwide will be using AI and that, in the next three years, this technology will generate an additional 1.1 trillion dollars in revenue for the companies that use it”.
It is bringing about radical changes in manufacturing and production, it allows manufacturing ten times faster and at half the cost, it is digitized therefore the process is accelerated. We have seen it during the pandemic and the manufacture of respirators and protective screens, although the scope of development and application is much broader, it can adjust to demand and will allow new business models.
The so-called data revolution to analyze and extract knowledge, manage resources and projects, help companies identify trends, know their customers and optimize processes.
If it was already important before the pandemic, after weeks of confinement it has become essential. Online sales during the period of confinement skyrocketed. The ways of buying, payment methods, apps, online banking… And all the development that can derive from this to provide solutions to customer and user satisfaction and to meet the needs generated by these trends will be entrepreneurial niches in the short term.
popular apps coronavirus
What does seem clear is that there are possibilities for entrepreneurship. There are always niches that are not covered, taking into account that consumer decision-making processes are also changing and transforming. A good example can be the textile sector in Spain in recent months with the production of face masks, making approaches to reformulate business lines.
But we must also bear in mind that opportunity is globalization and innovation, detecting spaces that do not even exist yet and that require creativity. The crisis has shown that businesses must be more collaborative, more connected, more global and more innovative. Entrepreneurs have to be more innovative, more global and more collaborative. Opportunities in times of crisis.