OGSCapital insists that now may be the perfect time for startups to move on from traditional business practices to digital transformation.
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SAN DIEGO, Calif. (PRWEB) July 15, 2020
In a new invigorative effort, OGSCapital lays out the impact of coronavirus on numerous industries in its totality. Its report highlights the impeding challenges for businesses across the world. Optimistically, it notes the while silver lining in the form of business opportunities for startups. The report states the importance of business continuity and contingency plans for startups to remain competitive in a ruthless global capitalist market.
Furthermore, OGSCapital insists that now may be the perfect time for startups to move on from traditional business practices to digital transformation. Interestingly, the report carefully examines the investors' investment requirements due to the coronavirus outbreak. Simultaneously, it highlights that government stimulus packages will continue to help startup businesses throughout the pandemic crisis. It notes that startups need a methodical business model to sustain growth.
As per IMF forecasts, global GDP is set to decrease by 3% by the end of 2020. But despite the pessimistic state of the unemployment rate and continuous lockdowns, the global economy shows a swift GDP growth of 5.8%. The report establishes the opportunities and the need for a practical business model that could serve startups in the coming year.
Commercial transportation, retail sector, tourism, hospitality, and consumer goods have had to face the negative consequences of COVID-19 lockdowns. However, the gradual ease of lockdowns has paved the way for communications, eCommerce, real estate markets, delivery services, health and wellness, and cybersecurity enterprises to grow beyond expectations.
Contemporarily, the market disruption due to COVID-19 has forced companies to rethink conventional operational models and adopt digital transformative strategies. If the current trend continues, businesses will have to move the digitalization of processes for sales and purchases. In addition, face-to-face online interactive communication platforms would become the standard substitutes. Additionally, production processes will also go through automation.
The report intricately highlights that there are always winners even amidst a global financial crisis. For instance, the beauty industry and Health & Wellness businesses had a 200% and 300% increase in demand in a month. It is a trend for many industries that will continue to surpass growth expectations in the foreseeable future. The spotlight on communications, cybersecurity solutions, online entertainment, eCommerce, and COVID-19 health-related products or services will take center stage.
Realistically, the reports point out to businesses about having a realistic and achievable business plan that could withstand the uncertainty of future issues of financial market. Whether its marketing & sales, cash-flow forecasts, delivery operations, tech infrastructure, logistical support, human resource management, or procurement, companies will have to make alternative decisions to adopt according to new market conditions. You can download the report here.
OGSCapital.com was founded in 2006 with an initiative to offer the most sophisticated business plans to startups and established businesses around the world. Its team comprises expert business consultants and experienced business plan writers. OGSCapital’s business plans have managed to help grow businesses over $2.7 billion.