It’s undeniable that COVID-19 has been a real eye-opener. Many entrepreneurs have realized how much their business models depended wholly on a smooth-sailing environment and have resolved to take alternative routes.
This devastating COVID-19 global pandemic has forced companies across the globe to either shut their operations or pivot to a new business strategy and reconfigure their workforce.
Business models hitherto considered impossible have now become the new normal.
Just like other spheres, the landscape of entrepreneurship in Nigeria has witnessed a paradigm shift since the dawn of the coronavirus pandemic.
Here are 5 ways COVID-19 has revolutionized entrepreneurship in Nigeria:
Working Remotely
This is one of the biggest shifts that emerged out of the COVID-19 pandemic.
With government restrictions in place and the shutdown of non-essential; services in the country, several businesses in Nigeria are forced to adapt and embrace remote work– at least for the short term.
Although the transition to working remotely was fast and furious for lots of organizations are now realizing work-from-home as the future of work– pandemic or not.
Hence, they are now integrating remote working into their business strategies.
Rise of Contactless Payment
After lagging behind the rest of the countries across the globe, Nigeria is finally beginning to adopt contactless payment. The force behind this sudden change is actually COVID-19.
More than ever, people are now swiping contactless bank card or e-wallet to make payments in Nigeria.
Platformication
Another way COVID-19 has transformed entrepreneurship in Nigeria is the adoption of Platformication.
Companies and businesses of all types are leveraging digital platforms to stay above water during the pandemic.
The education industry has shifted to holding virtual classes on streaming services, both live and pre-recorded; events and conferences are now held virtually.
As companies will recede to their traditional business models when the pandemic wane, many others will adopt the hybrid approach as they recognize the benefits of recurring incomes.
Digital Communication and Collaboration
The advent of COVID-19 has also forced many businesses to rethink the way they work and communicate.
Businesses are now forced to adopt several messaging and communication tools to improve their employees’ productivity while they work-from-home.
Some of these tools shaping the future of work include Rich Communication Services (RCS), digital messaging channels, virtual meetings, and chatbox to enhance communication both internally and externally.
Contactless Delivery
To minimize human-to-human contact, food delivery and e-commerce companies are opting for a contactless delivery option to ensure safety.
This approach is becoming a new normal in the entrepreneurship sphere. And forward-thinking entrepreneurs are integrating of contactless delivery options in their business strategy to serve their clients.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.
