In spite of the economic climate (which in itself is showing signs of recovery), there remain ample opportunities for the enterprising individual. As a need becomes apparent, or a want becomes prominent, entrepreneurs come into their own, offering new products and services to fill what had been an economic vacuum.
Old needs, new markets
Cab services like Uber and Lyft have filled a niche generated by a perennial problem. Commuters loathe every moment stuck in traffic, especially with the rigors of driving and mass transportation being an everyday struggle. These startups are fast becoming the commuting solution of the future by adopting the old carpooling model.
Image source: Chamonix.net
Although still technically taxi services, Uber and Lyft are progressively becoming true ridesharing services by offering discount options for passengers who share rides with strangers traveling the same route. This provides travelers with a budget-friendly alternative to travel along with others while contributing to the decongestion of roads.
Although seen as a typical dish for those too lazy to cook, in Kenya, the word “pizza” connotes a certain air of class that is not usually available to the person on the streets. Even the very flavor of pizza has been a mystery to the average Kenyan. In response to this mystique and the subtle air of demand, franchises such as Naked Pizza have begun filling the largely empty niche.
Image source: Forbes.com
Naked Pizza has slowly been growing by leaps and bounds in the East African nation, bringing what had been the coveted luxury dish within occasional access to working class Kenyans. It stands out of the competition by offering healthier options and distributing through both branch stores and food trucks.
Our business is funding your business
There are even opportunities available in helping other businesses to their feet. Funding small businesses and startups through loans and credit had been open territory since banks became wary of lending to smaller enterprises since the recession. Online credit provider Kabbage is just one of many alternative creditors catering to businesses that have stepped in to fill the now-lucrative new gap and continues to flourish today.
As the needs of people and businesses grow, so would the niches for new businesses and industries to fill. For the consummate businessperson, adversity is just opportunity in disguise, and several new startups across the world have embraced this paradigm to fill a market niche that few others knew even existed.