Types of Businesses Booming Due to the COVID-19 Pandemic

Types of Businesses Booming Due to the COVID-19 Pandemic

Some businesses have discovered new opportunities as a result of the pandemic.

The novel coronavirus pandemic is having a devastating impact on the economy and businesses in most sectors.

Yet some companies have capitalised on the new reality and discovered opportunity in the global response to the pandemic and new reality.

Business in the time of COVID-19

There will always be people and businesses that try to profit from a crisis.

In the case of the COVID-19 pandemic, most businesses that have profited have done so by providing vital supplies and services to help combat the spread of the coronavirus.

Manufacturers of hand sanitisers are the best example. They haven’t changed their business model. Demand has simply increased exponentially because of the pandemic.

These businesses are the obvious candidates for increased sales but other enterprises are benefitting from our new way of living.

Businesses booming due to the pandemic

Some businesses are experiencing increased demand for their goods and services now, but others will see a boom in demand when the lockdown is eased.

Sanitising products

Makers of products used to sanitise factories, offices, goods and surfaces will see a surge in sales.

Producers of products like bleach, antibacterial soap and disinfectants will continue to see a dramatic growth in demand.

Personal Protective Equipment

Personal protective equipment (PPE) has seen a boom in demand that’s been hard to satisfy, especially for medical masks, face shields and gloves. Manufacturers will continue to see inflated sales.

eCommerce

Many people have started shopping online since the start of the pandemic. Currently, the main demand is for food and other essentials items. When the lockdown is eased, many people will avoid crowded shops in favour of safe online shopping for other items, including clothes and electronics.

Delivery services

The growth in online shopping will continue to impact delivery services, which will be in more demand than ever. Delivery and logistics companies will need to expand to cater for a wider range of goods.

Food deliveries and takeaways

Grocery shops have seen an increase in online orders, especially for the elderly. Food parcels and fruit-and-veg box deliveries will continue to experience increased demand. Once restaurants are free to operate, takeaway orders will boom.

Apps and cloud computing

For those who can, working from home is becoming a way of life. This has increased demand for online apps and services that facilitate productivity and work-related communication. Video conferencing, in particular, has become vital so that people can hold regular meetings.

Social media networks

Social media networks have seen an increase in users and traffic, especially those offering news and information on the pandemic. Social media is being more widely engaged because people are spending more time at home.

Home entertainment

Television and film production has been temporarily halted but the demand for streaming services has increased. The demand for other online content, such as podcasts and YouTube channels, has gone up. The demand for televisions will also increase when the lockdown is eased.

Pharmaceuticals

Pharmaceuticals and medicines that treat COVID-19 will see an increase in demand. There will also be a surge in demand for medications to treat people suffering from any physical and psychological effects of the lockdown.

Short-term loans for struggling businesses

Many businesses are struggling to maintain revenue and cash flow during the lockdown.

At Lamna, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork.

For more information about using an asset to secure a fast loan in South Africa, contact us on 086 111 2866 or simply complete and submit our online application form.

ILLUSTRATIVE EXAMPLE

Client borrows R10,000 for 90 days.

Loan Amount
Repayment Period
Monthly Interest
Total Cost of Loan
Initiation Fee
Monthly Fee
APR
R10 000
3 months
R500.00
R2 914.50
R1 207.50
R569.00
60%

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.

APR & Loan Repayment Period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.

Non-Payment

Non-payments may result in the matters being escalated.

Renewals

All accounts may be renewed if they are up to date.

Collection

All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.

Types of Businesses Booming Due to the COVID-19 Pandemic

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Types of Businesses Booming Due to the COVID-19 Pandemic

Apply Online

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Types of Businesses Booming Due to the COVID-19 Pandemic

Apply Online

Types of Businesses Booming Due to the COVID-19 Pandemic

Apply Online