The Digital Economy During COVID-19

The coronavirus pandemic caused a massive stir in the economic sector as both public and private businesses are struggling to survive the slow transmission of this fatal disease. 

It has adversely affected industries across the globe and has created a great deal of confusion amongst firms and the employees.  This has also generated additional concerns regarding the management of the workforce, jobs and what job opportunities should still be under consideration in such extraordinary circumstances.

Do not be panic, whatever business you are, there is must be a way to get a solution. Thanks to all the latest technological development, working from home has been made easier and there are several other ways one can avail the opportunities during the coronavirus pandemic with assistance from the digital world and sustain the dwindling economies. If you are a business owner, entrepreneur, big or small companies, here are some solutions that might help you to move forward during these critical times:

Making Use of Digital Communication

Since working at home is the only option one is left within such times, digital services can prove to be extremely useful. People can use the platform such as e-mail, Skype, Zoom, Google Hangouts, Microsoft Teams and many more platforms to communicate with one another. 

Virtual Interaction

Meetings and conferences are extremely important in all workplaces. They cannot take place unless everyone is available at the same place, at the same time. This can be quite a challenge when everyone is locked down in their homes.

Its time to switch to digital meetings and communicate with virtual interaction by using Skype, Zoom, or any other platform that you can do live conferences, events, webinars or training sessions from your homes and get an effective and efficient interaction with your colleagues or client. 

The e-Commerce Opportunities

The entire world is being lockdown and makes very limited choices for households to get their daily or normal routine desire of product and services. Online shopping has been available for quite a while and now is the time to make the most of it.

This can be specifically used by the fashion and clothing industry along with the food and beverage industry. If you are one of the products and services companies, this is the time! Make your product and services available with an e-commerce platform or if you have an extra budget to invest, this is the best time to be considered to have your own mobile apps.

Virtual Learning During The Coronavirus Pandemic

Online study platform is already in the market, for parents, do not worry, get some online classes to your children, keep communicating with school teacher or lecturer. For organization, you are responsible to provide classes and e-learning platforms to your student, so that no excuses of no classes, no homework, no test or examination. If both parties make an effort, no one will leave behind.

Growth Revenue with Ads Channel

We are strongly suggesting to those companies who own a company website to open a new revenue channel via ads platform. By doing that, you will help other organizations to raise their capital, helping start-up companies to move forward and you earn your revenue at the same time.

Shift to Digital Business

The App Annie team has proven on research that digital business is going fast during a coronavirus pandemic crisis. Revenue turns up in Q1 2020. The video streaming business is booming these days as people are at home and they look up more news and entertainment content. Platforms for subscription video on demand like Netflix, Hulu, and Amazon Prime Video, Roku Channel Pluto TV are all the rage these days and they are greatly benefiting as well. The Gaming platform was also in high demand according to the research by The App Annie team. 

Social media platforms such as Instagram, Snap Chat, Facebook, TikTok, and YouTube are also strong growth in total time spent by the user. You can also use social media platforms to promote your business.

Freelancer Platform

We believed some of the workers or employees might struggling during these coronavirus pandemic periods. Business and services are closed, which is out of employer control in losing their revenue. For those who might be seeking what best they can do at home, you may start searching what suits yourself, what is your hobby, what is your talent. There are some platforms that you can join as a freelancer such as selling your item or maybe join food delivery companies or fashion platform and many more platform for you to join to make a side income or at least something for yourself while we are all waiting for a miracle so that we can go back to the normal routine. 

Ways the Government Can Help During coronavirus pandemic

The following steps can be taken by the government to facilitate the people: 

The Need for 5G Technology

There is still a great deal that the government can do to help local digital technology, improve content services and encourage technical skills through the community as a whole. 

Many nations are grappling with Internet connectivity especially in the countryside. This is also the time when the 5G technology should be considered as a top priority and should be worked on by each country with the cooperation of telecommunication providers.

Speed up Licensing Platform & Offset Traditional Method

Governments ought to consider the multiple trade-offs associated. For instance, overcharging licenses or bandwidth significantly compromises the willingness of private entities to invest in telecommunications in more remote rural regions. Which is why this matter should be looked into as well.

Last but not least, always stay united, stay calm, and strong. It is not a competition; it is a global fight for community. We are all in this together.

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