Start a Business In An Economic Recession?

Written by admin on Thursday, March 26th, 2009

This is a great article on the benefits of starting a business in an economic recession. Really, the biggest reason most businesses fail is because they don’t have the right message for their target market. There are some other reasons which are all really easy to overcome when they are done with foresight. In reality, an economic recession really means “new opportunities.” I love this article because it focuses on looking at these new opportunities. In a quick recap, the 10 reasons why this is a great time to start an economic recession include:

1) Everything is cheaper.
2) You can hire more and better-qualified people.
3) People are looking to change suppliers.
4) Ownership equals tax incentives.
5) Family and friends don’t want to (or can’t) invest more money into the stock or real estate markets.
6) Suppliers are giving better credit.Suppliers are giving better credit.
7) You can get good PR by showing you are going against the trend.
8 ) You can buy everything you need at auction.
9) You can find great “low money” or “no money” down deals.
10) You’ve lost your job, and you have to do something.

These are powerful things to have on your side. With this going in your favor, how could your business NOT succeed?

Read the whole article here:

http://entrepreneur.com/startingabusiness/startupbasics/startupbasicscolumnistbradsugars/article200342.html

Tags: economic recession - business startup - start a business - starting a business