Tips for Entrepreneurs: 6 Market Trends in 2021

There were many aspects of our lives that were affected by the Covid-19 pandemic last year, and we all had to adapt to the “new normal”. New market and business trends are also a reflection of this adaptation. As people say, it is from crises that new opportunities are born.

Person in a suit pointing to a virtual chart where the year 2021 stands out

Today, many of the hopes are placed on entrepreneurship, one of the main jobs and innovation creators that can help with the economic and pandemic crisis. If you are an entrepreneur or if you are thinking about starting your own business, but you still don't know which is the best sector, we created this list to help you keep up with potential new business.

Meet 6 market trends for 2021:

1. Digital Education

One of the main trends worth keeping an eye on is the transition of education to digital. From professional training to school classes, classrooms have changed. Students who used computers in the past to do their assignments, today also use them to attend classes, make oral presentations and receive support from their teachers. There is an increasing need for accessible and democratized education, through digital. Infoproducts, online courses, eBooks, video classes, among other learning solutions are increasingly in demand. Thus, many business opportunities in this area may be successful in 2021.

2. E-Commerce

There is no doubt that online commerce has grown a lot in recent years, but we have never been more dependent on online and technologies as we are now. For this reason, many sectors and companies are making their transition to digital. Thus, an opportunity could be the creation of solutions that help to fill gaps left by the impossibility of carrying out conventional trade. Nowadays, a virtual store is much more beneficial than a physical store, not only allowing you to maintain sales and sell 24 hours a day, but also to expand sales globally.

3. Digital Medicine

Covid-19 caused failures in the health systems of several countries, with regard to the delivery of an efficient service to patients. At a time when the priority, in Portugal and worldwide, is to respond to the countless patients infected with the coronavirus, people are wondering how the treatment of other health problems will be.

Like other sectors, the health sector has also transitioned to digital. People prefer to avoid any visit to the hospital as a result of becoming infected or putting other patients at risk. Thus, it was proved that medical care and monitoring could be done remotely, in cases of minor problems. Solutions that improve the delivery of medical services via digital are increasingly sought by hospitals and clinics.

As stated by our Business Development Manager, Sofia Fernandes, in an article for Sapo Tek, the year 2020 allowed the health market to be updated, as we observed the mass digitization of the sector to use tools for Covid-19. Startups, such as Sworth Health (considered the best MedTech startup and the best Portuguese startup by Scaleup Portugal Report) now have great opportunities to emerge and succeed in the national and international markets.

4. Sustainability

2021 presents itself as a year of opportunities in the area of ​​sustainability and climate change. Like last year, this is a year in which consumerism is abandoned in favor of sustainability. The pandemic seems to have been a turning point in terms of perceiving the importance of issues related to the environment and sustainability. In addition, many companies are reflecting and making sustainable changes and transitions, whether in products or in the production process. Thus, this could be an opportunity for 2021. It is necessary to innovate for any of today's climate challenges, whether to reduce the use of water in production, to eliminate fossil fuels, among others. Not only to preserve, but to recover what has been damaged.

5. Local tourism

We all know that the economy will be greatly affected, especially in Portugal, a country whose Gross Domestic Product (GDP) - money that Portugal produces annually - depends on about 13% of tourism. There is now an urgent need to find solutions to overcome the negative impact of Covid-19 on tourism and to allow safe tourism in Portugal.

In this new reality, shorter vacations in the nearby destinations are at the top of the list, since they are easier and safer in the context in which we live. In 2020, many of the Portuguese chose to spend their holidays in Portugal, and the same is expected to happen in 2021. In addition, the challenge also involves finding novelty in a destination that is already familiar to us. Solutions that value the “local” and that at the same time respond to the needs of the new tourist profile may be successful in 2021.

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