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How the Country’s Workers Are Faring against COVID-19

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The rapid shift into remote and automated work is becoming a dividing line between professionals who have access to the technology they need to be functional and those who do not. Lack of access to basic technological resources is pulling many workers back into stagnant areas of the economy. 

Unemployment is one of the pandemic’s major effects, which mostly hit those in the service, retail, and other industries. These are the hard laborers in restaurants and hospitality, construction, and administrative workers. Many of them have already been burdened by inequalities in race, gender, and other resources even before COVID-19 struck the economy. What makes things worse for them is that the pandemic speeds up the transition to remote jobs and automation.

The Disparity Grows Wider

This adaptation of technology could heighten the displacement of lower-wage earners who do not have access to such knowledge and resources. Thus, America is now divided between professionals who are greatly benefiting from the new setup with advancing stock portfolios and the rest of the country.

In particular, America’s service sector hires a growing number of employees from cleaning staff, restaurant waitstaff and cooks, security guards, and others. As less people are traveling, eating out, and going to work, they are nowhere near safe.

According to a recent study published by MIT, technological trends that materialized during the pandemic may continue to displace America’s most defenseless lower-wage earners even when things begin to normalize. 

One major trend that may carry on is telepresence. Businesses have adjusted to a remote work setup, which could permanently decrease the number of people going to the office. More employees are now moving to the suburbs and rural areas to enjoy more space and lower costs of living. In effect, this will lessen the need for business travel, which could make a huge dent in hospitality, restaurants, and other industries that cater to frequent executive travelers.

Smaller Businesses Are Closing

Another factor contributing further to the economic disparity is the closure of thousands of small businesses across the nation. Since March, over 73,000 businesses have closed, including gyms, salons, restaurants, and local shops. 

Quite obviously, the companies and jobs that will remain strong are the large corporations that are liquid enough to power through the pandemic. These “superstar companies” pay much more and provide their employees with hefty benefits.

Among these leading players are the tech industry’s Google, Amazon, Apple, and Microsoft. Other companies, such as manufacturing firms, healthcare providers, and insurance agencies, are also growing steadily through the crisis. Although thousands of employees also benefit from these industry giants, the sizeable wage gap between them and smaller businesses is now magnified.

Robots Are Replacing Humans

One more factor that could deplete the lower-wage earners is the automation of certain jobs. Companies now look into robotics and other innovative machines to promote safety and physical distancing.

This could carry be adapted even after the pandemic as they cost much less yet largely increases productivity. Machines could easily replace manual labor jobs that do not require specific human skills. 

In the end, companies have the option to push forward with automating as they see fit for their industry. However, there are still particular proficiencies that are unique to humans, which can be maximized.

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Business

Evangelos Marinakis: Capital Maritime & Trading Corporation Founder

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Evangelos Marinakis was born in the Greek port city of Piraeus on 30th July 1967. He is probably best known as the chairman of Capital Maritime & Trading Corporation, having amassed an extensive business empire spanning an array of different industries, most notably shipping.

Vangelis Marinakis studied at the American International University in London, England, graduating with a bachelor’s degree in international business administration and a master’s degree in international relations. He served as a commercial manager for Capital Ship Management Corporation from 1992 to 2005, overseeing the success and growth of many businesses that today form part of the Capital Maritime group.

Founding Capital Maritime & Trading Corporation in 2005, Evangelos Marinakis began amassing an extensive fleet of vessels, which today includes container ships, dry bulk carriers and tankers. Having served as Capital Product Partners LP’s chairman of the board from 2007 to 2014, Mr Marinakis founded Crude Carriers Corporation in 2010, overseeing its merger with Capital Product Partners LP in 2011.

Like his father before him, Evangelos Marinakis is a life-long supporter of Olympiacos FC, the team of his home city, Piraeus. In 2010, he was fortunate enough to be able to purchase a controlling share in the club. Throughout the course of his seven-year tenure as Olympiacos FC president, Evangelos Marinakis led the team to an astounding seven consecutive championship victories.

In addition to owning Olympiacos FC, Evangelos Marinakis also acquired Nottingham Forest FC in 2017, gaining the English Football League’s approval for his ambitious plans to restore the side to its former glory. The scheme included an extensive redevelopment of the team’s historic grounds, culminating in the creation of a worldclass stadium that today ranks as the largest in the East Midlands.

In 2014, Evangelos Marinakis joined forces with Yannis Moralis, the then-Olympiacos vice president and current mayor of Piraeus. Together they launched the Piraeus Winner alliance, running a highly successful election campaign, with Mr Marinakis subsequently becoming an elected member of Piraeus city council. Focusing on improving living standards for local people, transforming infrastructure and establishing Piraeus as a thriving tourist hub, Evangelos Marinakis pledged his own personal finances to facilitate the creation of businesses and jobs throughout the city.

Evangelos Marinakis is also an active investor in the media industry, with his company, Alter Ego Media, ranking as Greece’s largest media group with a presence in broadcasting, content creation and publishing. The group portfolio includes this historical media outlets TA NEA, TO VIMA and OIKONOMIKOS, as well as the radio station My Radio, and Mega, Greece’s largest television channel.

Throughout an extraordinarily successful career spanning not just global shipping but a variety of other industries, Evangelos Marinakis has consistently leveraged his position as a public figure and business leader to achieve a positive social impact. Following the Greek financial crisis, he pledged €168,590 to Greece Debt Free on behalf of Olympiacos FC, providing the non-profit website with vital funding with the mission of eliminating the national debt. A committed philanthropist, Mr Marinakis is the benefactor of an array of worthy causes, actively supporting UNICEF and the Kazantzakis Museum in Crete. He is also a proud patron of Ohio State University’s Miltiadis Marinakis Professorship for Modern Greek Language and Culture.

Today, the Marinakis family owns and operates a vast 146-vessel-strong fleet of dry bulk carriers, ships and tankers. Under Evangelos Marinakis’s visionary leadership, the organisation has gone from strength to strength. Capital Maritime & Trading Corporation has been recognised with numerous prestigious awards for its sustainability efforts, including earning GREEN4SEA’s 2015 Excellence Award and the Green Environmental Achievement Award from the Port of Long Beach in Southern Carolina.

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Which Industries Are the Most Secure for Establishing Your First Business in 2023?

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What Are the Safest Industries to Start Your First Business in 2023?

The Top 10 Safest Industries to Start Your First Business in 2023

Starting a business can be an exciting venture, but it is essential to choose the right industry for your first business. When considering which industries are the safest to invest in, you want to look at factors like market demand, stability, and future growth potential. In this blog post, we have put together a list of the top 10 safest industries to start your first business in 2023.

The industries listed here have been selected based on their overall potential for success and long-term growth. These industries may offer lower risks for first-time entrepreneurs and a better chance of success due to established markets, stable customer bases, or growing trends. Keep in mind that while the industries featured here may be considered safer bets, no industry is entirely risk-free, and it’s crucial to conduct thorough research before committing to any business idea.

Let’s dive into our list of the 10 safest industries to start your first business in 2023, where we provide an overview of each industry along with some key points to consider.

1. Eco-friendly Products and Services

As people become more environmentally conscious, the demand for eco-friendly products and services continues to grow. This industry offers a wide range of opportunities for new businesses that focus on sustainability and reducing humanity’s impact on the planet. With increasing public awareness and support from both consumers and governments, starting your business in this field has never been a more attractive option.

For instance, you could design and produce sustainable clothing made from organic materials or create biodegradable packaging for food and beverages. The possibilities are vast, and the market potential is promising for those who can offer innovative solutions to environmental problems.

  • High consumer demand for sustainable products
  • Supported by government initiatives and regulations
  • Potential for social media outreach with eco-friendly messaging
  • Attractive to environmentally conscious investors
  • Different entry points depending on your business idea (e.g., products, services, consulting)
  • Opportunity to make a positive impact on the planet

2. Health and Wellness

With an increased focus on personal health and wellness in recent years, this industry presents a wealth of opportunities for new businesses. Consumers are seeking ways to live healthier lives through various means, such as nutrition, exercise, mindfulness, and holistic remedies. As a result, there is an increasing demand for innovative products and services that cater to these interests.

Consider creating a mobile app that promotes healthy habits or opening a fitness studio specializing in popular workout trends like yoga or HIIT. The opportunities are endless, and with the right approach and effective marketing strategy, you could build a successful business in this thriving industry.

  • Growing market with high consumer interest
  • Expanding range of possibilities, from apps to physical products
  • Increased importance due to global health concerns
  • Multiple niches to explore (nutrition, fitness, mental health)
  • Can be started online or in-person
  • Physical, mental, and emotional well-being will always be relevant

3. Educational Technology (EdTech)

The EdTech industry has experienced rapid growth in recent years, thanks in part to the shift toward remote learning. This industry focuses on integrating technology into educational settings to improve overall learning experiences. There is a vast potential for growth here, especially as advancements in technology continue to shape how we learn and teach.

An example of a successful EdTech startup might be an online tutoring platform that connects students with qualified instructors in their chosen subject area. With online learning becoming more accessible and in-demand, this is an increasingly attractive market for entrepreneurs.

  • Rapid industry growth driven by technology advancements
  • Expanding range of products and services available
  • Increased demand due to remote learning adoption
  • Appeals to both individuals and institutions
  • Potential for global reach through online platforms
  • Relatively low barriers to entry, especially for digital products

… please limit your response to 2800 characters

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BigBusiness

Which Industries Are the Most Secure for Establishing Your First Business in 2023?

Published

on

What Are the Safest Industries to Start Your First Business in 2023?

The Top 10 Safest Industries to Start Your First Business in 2023

Starting a business can be an exciting venture, but it is essential to choose the right industry for your first business. When considering which industries are the safest to invest in, you want to look at factors like market demand, stability, and future growth potential. In this blog post, we have put together a list of the top 10 safest industries to start your first business in 2023.

The industries listed here have been selected based on their overall potential for success and long-term growth. These industries may offer lower risks for first-time entrepreneurs and a better chance of success due to established markets, stable customer bases, or growing trends. Keep in mind that while the industries featured here may be considered safer bets, no industry is entirely risk-free, and it’s crucial to conduct thorough research before committing to any business idea.

Let’s dive into our list of the 10 safest industries to start your first business in 2023, where we provide an overview of each industry along with some key points to consider.

1. Eco-friendly Products and Services

As people become more environmentally conscious, the demand for eco-friendly products and services continues to grow. This industry offers a wide range of opportunities for new businesses that focus on sustainability and reducing humanity’s impact on the planet. With increasing public awareness and support from both consumers and governments, starting your business in this field has never been a more attractive option.

For instance, you could design and produce sustainable clothing made from organic materials or create biodegradable packaging for food and beverages. The possibilities are vast, and the market potential is promising for those who can offer innovative solutions to environmental problems.

  • High consumer demand for sustainable products
  • Supported by government initiatives and regulations
  • Potential for social media outreach with eco-friendly messaging
  • Attractive to environmentally conscious investors
  • Different entry points depending on your business idea (e.g., products, services, consulting)
  • Opportunity to make a positive impact on the planet

2. Health and Wellness

With an increased focus on personal health and wellness in recent years, this industry presents a wealth of opportunities for new businesses. Consumers are seeking ways to live healthier lives through various means, such as nutrition, exercise, mindfulness, and holistic remedies. As a result, there is an increasing demand for innovative products and services that cater to these interests.

Consider creating a mobile app that promotes healthy habits or opening a fitness studio specializing in popular workout trends like yoga or HIIT. The opportunities are endless, and with the right approach and effective marketing strategy, you could build a successful business in this thriving industry.

  • Growing market with high consumer interest
  • Expanding range of possibilities, from apps to physical products
  • Increased importance due to global health concerns
  • Multiple niches to explore (nutrition, fitness, mental health)
  • Can be started online or in-person
  • Physical, mental, and emotional well-being will always be relevant

3. Educational Technology (EdTech)

The EdTech industry has experienced rapid growth in recent years, thanks in part to the shift toward remote learning. This industry focuses on integrating technology into educational settings to improve overall learning experiences. There is a vast potential for growth here, especially as advancements in technology continue to shape how we learn and teach.

An example of a successful EdTech startup might be an online tutoring platform that connects students with qualified instructors in their chosen subject area. With online learning becoming more accessible and in-demand, this is an increasingly attractive market for entrepreneurs.

  • Rapid industry growth driven by technology advancements
  • Expanding range of products and services available
  • Increased demand due to remote learning adoption
  • Appeals to both individuals and institutions
  • Potential for global reach through online platforms
  • Relatively low barriers to entry, especially for digital products

… please limit your response to 2800 characters

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