The global economy is heading towards a phase on contraction, and millions of workers are either furloughed or working from home. Despite challenges on fronts of demand and finance, some people show courage to start a new business. Interestingly, women are leading the wave, according to a BBC report.
Women: Creating a New Segment
Natalie James, 30-year-old fashion PR, saw an opportunity in the beauty products segment. Many like her weren’t able to pamper herself with desirable products during the lockdown.
“I started it on a whim but, it has become like my child,” BBC quoted Natalie as saying.
She launched Tingle—a £10 monthly beauty product box subscription. The idea is to make it easy for all to get the self-curated products at the door.
Talking about the inspiration, she told the BBC. “I started to get cabin fever and hated that the only place I could go to was the supermarket.”
According to the report, it an all tool £300 to build a Wix website and design a packaging box.
With over 400 orders and more than £5,000, she is more than happy. But in her words, “It has been hard work.”
The story is the same for 20-year-old student Mya Leonie Wander. But the only difference is that she shapes her passion for food.
“I needed something to keep me going through lockdown,” Mya told BBC.
She started MJ Eats—a “soul food” takeaway service in June. Interestingly, she manages to get over 20 orders in a week and sales of £500 and achieve break-even in just two weeks.
Reigniting Love in Lockdown
For 25 years old Ph.D. oncology student, it was the need for “fun date night” during the stay-home period of lockdown that ignited a passion for business.
Imperial College London had to put the Ph.D. course on hold, and this gave her time to plan and explore business opportunities.
“I finally had the time to commit to launching a business,” she told BBC.
According to the report, she started Box42—a subscription box service “to bring back the romance”.
Each box, prices £33 at retail and £29 on a monthly subscription, comprises two fun activities following a theme, as well as snacks, non-alcoholic drinks, playlists, and “mood setters” like candles, according to a BBC report.
Caroline invested £1,100 to set up the business, and her sales total £950, the report noted.
And the list of such women entrepreneurs is getting bigger every day. The common element in all is “Necessity is the mother of invention.” Almost all businesses are trying to solve problems people might be facing.