Yes, you read that right.
While the covid-19 pandemic forced thousands of companies to shut down and caused unemployment to hit record levels, there are some industries that actually experienced growth at this time. One would be delivery services, which is hardly surprising when people can’t leave their homes. Another is the e-commerce industry, again because people are advised to stay indoors.
And of course, there’s online banking services: a must during a time where social distancing is of paramount importance.
Let’s have a look at the numbers, shall we?
E-Commerce and Fintech Lead Top-Funded Southeast Asian Start-Ups for Q2 2020
This year’s second-quarter numbers were dismal for a lot of industries. Restaurants, travel agencies, and other service-related businesses experienced record losses. Lockdowns throughout the region put a lot of pending deals on hold, and uncertainty dampened investors’ appetites.
However, Singapore-based startup information platform DealStreetAsia’s compiled data tells a different story for some industries. According to their data, the value of fundraising deals in the region rose 91% on the year to $2.7 billion. Meanwhile, the number of transactions climbed 59% to 184 for the three months through June, up from 116 in the same period a year earlier.
Apparently, the e-commerce, fintech (financial technology), and logistics sectors led the pack, raising USD691 million, USD 496 million, and USD 360 million, respectively. One of the top ten top-funded startups also happens to be from the Philippines. Voyager Innovations, the company behind the mobile payment app Paymaya, managed to raise USD120 million back in April from its shareholders.
This was a result of the demand for digital financial services exploding amidst the enhanced community quarantine. The sheer number of mobile payments and remittances, along with assisting the government to hand out cash to Filiipinos, led to a 150% increase in Paymaya’s transaction volume.
Still, investors need to tread cautiously, especially if the pandemic will linger. If this happens, deal making will slow down further. Travel restrictions and the global recession will also deter international investors from shelling out cash.
What Does This Mean for Remote Workers?
This bit of news should give us remote workers cause for hope. With businesses closing shop or downsizing, many of us are understandably anxious about what the future holds.
Hence, it’s a small comfort to know that all is not lost, and that some industries are growing despite the New Normal.
Furthermore, the need for social distancing and the very nature of these industries creates a demand for remote workers. E-commerce websites will require web developers, content and copy writers, graphic designers, and so on. Logistics companies will need customer service personnel, and app developers, among others. Fintech businesses will require a combination of all the aforementioned.
And all these positions have to be done remotely, what with the possibility of the pandemic lingering well into next year.
A word of caution, though. None of us should take this as an excuse to slack off. Quite the opposite. The challenge now would be to keep our skills sharp, relevant, and up-to-date. Yes, the future is full of opportunities, but we should be fully equipped to take advantage of them as well.
Best of all, it helps to have a supportive ally. With Remote Staff, you can rest assured that the company will do its utmost to ensure a stable and fulfilling career for its talents. Here, all our remote workers can focus on their jobs knowing that the company guarantees their compensation and will endeavor to find them new clients ASAP should an existing one suddenly terminate the arrangement.
Sign up with us today and take charge of your own future.