Since the COVID-19 pandemic kicked into high gear, there have been many economic forecasts full of doom and gloom. However, businesses are still experiencing growth during conditions that would normally lead to contraction.

Necessity and Innovation

Business growth during contraction almost seems paradoxical, but the truth is that businesses are finding more ways to adapt and innovate to serve their clients. Restaurants, for example, then faced with city and state guidelines that required them to stop seating customers, embraced partnerships with delivery and ride-sharing services to get food to customers. People who are self-quarantining are still placing orders with restaurants, bakeries, and more – and they are experiencing continued revenue.

Brick-and-mortar retailers were reliant on foot traffic to generate sales before the pandemic hit. Rather than board up and go under, those businesses shifted to e-commerce to not only continue sales, but cast a much wider net to reach an audience outside of their regular local customers. The current situation has allowed businesses that once operated with a limited radius to take things online and serve customers on state, regional, and even national levels.

Even people who were on the fence about becoming entrepreneurs – or those who have been furloughed from “non-essential” roles – are offering their services and opening online stores to generate revenue.

Transportation, Distribution, and Manufacturing

Transportation and distribution are at the heart of our economy. Without the proper supply chains in place, people cannot access basic goods such as groceries, and the healthcare sector cannot get medical supplies, PPE, and other equipment. Delivery services, trucking fleets, and distribution centers are essential to keeping our economy moving to meet the demands of private consumers and businesses alike. People and businesses place orders, shippers and distributors fill those orders, and the transportation sector makes sure goods get to their destinations. In turn, this process keeps manufacturers operating, as well as the secondary and tertiary businesses that supply them and their workers. Small trucking companies, owner-operators, and start-up delivery services are on the front lines to keep our economy moving by reinforcing our supply lines and filling in any gaps in logistics.

While there have been recent reports of certain manufacturers and processing plants closing, the reasons have been due to workers becoming infected, and not a lack of client demand. Even in manufacturing sectors such as the automotive industry, they are switching things up to keep pace with today’s demands. Instead of stopping production entirely, some manufacturers are making preparations and fitting their equipment to produce much-needed medical supplies.

Long-standing industries that rely on traditional commerce, such as transportation, distribution, and manufacturing, are still generating revenue and adjusting their output to serve the needs of customers nationwide.

Real Estate

It is obvious that the real estate industry came to a halt with the lockdown orders and left many investors and general contractors frantic about what will happen next. I believe much of the dust has settled and now people are beginning to focus on solutions and getting their ducks in a row for the upcoming opportunities. We are seeing a surge in loan requests for Fix and Flip loans, Bridge and Construction loans, Refinances, Cash-outs, etc. as people begin the anticipation of the lockdown being lifted and us going back to business as usual.

The optimists of the industry are setting their sites on continued growth and expansion of their portfolios, and even learning new innovative ways to operate. I have received multiple requests for marketing services of investors as well as business owners interested in enhancing their digital presence, credibility, and reputation.

Lessons Learned Are Applicable Today

Any business that was around a little over a decade ago for the Great Recession learned the importance of adaptability for continued growth during a period of contraction. Even newer businesses headed up by people who may have been employees during that period learned how to avoid the pitfalls of that era. While the circumstances may have changed with the pandemic, businesses are finding innovative ways to adapt and grow, which will have an overall positive impact on our economy, and help us all successfully navigate adversity today for a brighter and more robust future.

I have been told that with every adversity comes with a seed of equal or greater value to those in pursuit of solutions. We cannot be ignorant to the current landscape of our changing society and economy, but I believe that there will be a wave of significant opportunity in many forms over the next 24 months as our country fights to bounce back from this crisis, and the individuals that position themselves correctly will reap far greater returns than the steady-state, business-as-usual environment pre-pandemic.

Brandon Bartoldi is the Founder and Managing Partner of Prosper Firm, an organization dedicated to providing financial and marketing solutions to businesses across all industries.