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Old May 12, 2022, 09:57 PM
Dien Rice Dien Rice is offline
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Join Date: Aug 2006
Posts: 3,076
Default Many very successful businesses were started during "bad times"...

Hi Deuxter,

Many very successful businesses were started during "bad times"...

One of the benefits of "bad times" is... you have less competition! Then, when more competition does jump in, you have a big head start!

If you seach online for businesses that were started during economic downturns... You'll find some surprisingly big names... Like IBM, FedEx, AirBnB, and others...

Best wishes,

Dien

Quote:
Originally Posted by Deuxter View Post
Business uncertainty refers to situations in which businesses face risks that canít be foreseen or measured. During these times, it may be hard for businesses to predict their performance due to unprecedented or constantly changing events. Changes in the political, technological, economic, and environmental landscape ó such as technological advances, data breaches, natural disasters, or new business regulations ó can cause business uncertainty. For example, due to unforeseen upheavals in the economy and industries created by COVID-19, 2020 was a particularly tough year for firms to manage.
Though pandemics are rare, businesses, particularly startups, have always had to deal with unpredictability. Even when the economy is stable, startups face financial instability since they have yet to define their business model.
I was going to start my business but not I am not sure whether it is proper time. Especially with continuing war in Ukraine...
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