Often, during the past few days… I have got different opinions on this topic from people around me. While some outright deny the possibility of a success, others have encouraged me and shown me the brighter side of things.
I have collected the opinions and tried to list them here
People for starting a business… These are the benefits that they talk about
- Do the work you want to do than just adjust to whatever you get in a receding economy
- Passion brings in creativity and vice versa… both of which fuel the success of any startup
- Qualified people at cheap rates… Get the right team at a lowest cost!
People against the idea
- Long payback/break even time
- Lack of funding options available.. VCs are running away
- High risk of failure
Although, I haven’t been able to take any side as of now… I am definitely one of those risk takers who is passionate about his idea and wants to take a plunge… Keep looking this space for more on my venture
Meanwhile, here’s some more food for thought -
- Business week – Starting a Business in a Downturn
- USA-Today – Strategies: It’s a good time to start a business. Really
- The Standard – Five reasons why a recession is a good time to start a company
- Small business notes – Recession and small business
- Harvardbusiness.org – Four actions to survive recession and emerge triumphant
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