With World Moving Towards Recession, is Entrepreneurship Still a Nice Idea?


The world economy is in the worst possible condition since 2008. The Coronavirus Outbreak has closed down shops, hotels, theatres and the tourism industry is on the verge of total collapse. The Airline industry has already collapsed with Boeing losing over 18% of its share, worst since 1976. Trump has imposed travel ban for tourists traveling to the U.S. from Europe and this probably is one of the most difficult time of the current generation.

So is now a good time to start a new business? I will still not agree with people who’d answer a BIG NO.

Starting a new business, even at this junction of humans depends on the business. Coffee shops, department stores, even chain stores are closing at alarming rates.

With little or no money to start a business where do people begin to get the information about owning a business? Most people still have access to a Laptop and the Internet, so this is where the search begins.

Finding articles, books, and people who really know what kind of business is really succeeding in this economy is key. Finding these resources for little or no money is essential. Giving people options about their futures is vital. Showing people there is hope is a must. And being truthful about it is absolutely mandatory.

Being able to start your own business requires dedication and a resolve that will test your will power over and over again. One of the reasons most businesses fail is sticking with it even in rough times. Repeating a system that has worked for other business owners is a key to success. Doing your homework about a business is a necessity. Not giving up is paramount to being a successful business owner.Is now a good time to start a business?

Ask yourself these questions

  1. Do I have the drive required?
  2. Do I have the time?
  3. Do I have the need?
  4. Do I have the business plan?

Starting a new business or starting your own business in today’s’ economy may not be for everyone, but what better time to be do some investigation about the possibilities. Just like 2008, searching the Internet may just be your ‘Saving Grace’ in this economy!

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