Looking to start a business this year?
Many people think that starting a business in the midst of a recession is a crazy thing to do.
But the truth of the matter is, that if you have what your potential target market is wanting, then it’s not such a crazy thing to do.
If what you offer fills truly a need or provides goods or services at lower price or higher quality than the existing players in the market, then your business will stand a much better chance of surviving in a recession or downturn than the longer established businesses.
Businesses like Fedex, Microsoft, CNN, Burger King, HP and GE were all started in recessionary times.
If you still need convincing as to why now is the right time to start a business, think about this:
- Customers are looking to get better deals from their suppliers
- Costs of setting up are lower in a recession
- Workers, through no fault of their own, maybe forced into unemployment and available for work
- Government incentives and support are greater in recessions as they try to get the economy moving
- If you’re unemployed, doing something has got to be better than doing nothing.
If you want help in creating a business plan you can download a free template to get you started:
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