Current High Unemployment Rate and The Business Opportunity

The risk I selected is unemployment risk. The potential danger related to high unemployment rate is very obvious. The unemployment rate is an indicator of the country’s performance, and it affects everyone’s daily life for sure. The unemployed personnel will lose their wages, and their purchase power will go down. Therefore, by seeing from a big picture, the whole country’s performance will go down if the unemployment rate is too high.

However, there are always some business opportunities when there are some risks. The current unemployment risk is caused by the COVID-19 virus as we all know, and plenty of offline jobs are lost, however, the online gaming companies and other online based companies have been affected much less. Based on the current situation, any online business opportunities are worth trying, such as online education.

Therefore, everyone who lost their jobs during this time can try their own online business, and after the pandemic, the online activities may grow with a surprising speed. Some of the references provided below gives me the understanding and related business opportunities.

Reference:

https://www.investopedia.com/articles/economics/10/unemployment-rate-get-real.asp

https://www.inc.com/maureen-kline/how-to-find-a-business-opportunity-in-a-systemic-risk.html

https://www.universityworldnews.com/post.php?story=20200512154252178

https://insightplus.mja.com.au/2020/16/covid-19-opportunity-to-improve-in-the-guise-of-a-crisis/