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Would You Start A Business Now?  
User currently offlineSunking737 From United States of America, joined Feb 2005, 2038 posts, RR: 8
Posted (5 years 8 months 1 day 1 hour ago) and read 1144 times:

Just wanted to know if anyone would start a business right now with the economy world wide being so bad. Do you think this would be a good time or a bad time ?

I am not talking anything airline related, heaven knows they have enough problems now days.

Just looking for general option.

Thank you for your time.


Just an MSPAVGEEK
3 replies: All unread, jump to last
 
User currently offlineDesertJets From United States of America, joined Feb 2000, 7762 posts, RR: 16
Reply 1, posted (5 years 8 months 1 day 1 hour ago) and read 1130 times:

Unless you can start a business that is not affected by a recession then no.

You have a combination of a tight credit market so getting capital would be a pain along with reduced consumer spending and confidence. That isn't exactly a recipe for success.



Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
User currently offlineNighthawk From UK - Scotland, joined Sep 2001, 5127 posts, RR: 34
Reply 2, posted (5 years 8 months 1 day 1 hour ago) and read 1126 times:



Quoting DesertJets (Reply 1):
You have a combination of a tight credit market so getting capital would be a pain along with reduced consumer spending and confidence. That isn't exactly a recipe for success.

Bear in mind however that rent and labour are also at low levels, so now is a pretty good time to start a business as your cost bases are much lower than your rivals. You just need to time it right so you get the cheap rates but launch just as the market starts to pick up again.

Michael O'Leary has the right idea, now is the ideal time to start up an airline, as there is a surplus of aircraft on the market forcing down prices, and a lot of routes up for grabs from carriers that went bust. Sign the lease on the aircraft now and hire the pilots who are out of work, and by the time you launch in the summer things may well be on the up and people looking to travel again.



That'll teach you
User currently offlineComorin From United States of America, joined May 2005, 4896 posts, RR: 16
Reply 3, posted (5 years 8 months 1 day ago) and read 1119 times:

It's always a good time to start a business. Here are some pros and cons timing-wise:

1. Cons - tight to no credit for small businesses, except for SB guaranteed loans.
2. Pros - great deals on rent, supplies, labor availability and costs.
3. Cons - Lower demand due to recession, tightened customer spending budgets.
4. Pros - Customers looking for cheaper alternatives, cost-saving ideas.
5. Cons - Cost cutting by your competitors affects margins.
6. Pros - You will be a lot more nimble that you competitors with high $ commitments.


So you need to think of your proposed business in these terms and see if it makes sense for you. My only regret in life is not having started my company sooner.


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