Why recession is a good for small business.

economic trends

 

 

 

 

 

 

According to history recession has proven to be a good time to start a business.  The following businesses started at times of economic downturn and grew to be pretty successful:

5 Successful Businesses that Began in Economic Downturn

 

 mslogo
Started in the recession of 1973 – 1975.

 logo-header-fedex
Began operations in in 1973 recession.

 logo
Founded in the depression of 1873.

 revlon
Founded in 1932 during the Great Depression.

 hyatt
The upscale  Hotels started in the middle of a recession (1957).

 10 Reasons Why a Downturn is Good for Small Business

  1. Recessions create problems.  You are in the business of solving people’s problems!
  2. As a small business you are agile and flexible, your larger competitors are not. In an Economic Downturn agility is a coveted asset.
  3. Highly qualified, talented and effective staff can be found; as larger corporations are downsizing.
  4. Things cost less (think rent in great locations and assets/equipment you need to grow your business).
  5. Lower interest rates.
  6. Less competition in the marketplace.
  7. You are forced to create a lean business and build strong business practices.  You will benefit from this for years to come.
  8. Recession creates an innovation vacuum.  When a country is going through an economic downturn, innovation is hard to come by, you can benefit from this.
  9. More opportunities open up as Governments offer more support and ‘breaks’.
  10. Is there every really a good time to start your business?  Right not, the opportunity exists to move away from Scared and into Prepared.

Ask us how your business can THRIVE during an ECONOMIC DOWNTURN.

Source:
ttp://www.investopedia.com/

http://www.forbes.com/

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