Are Times of Economic Hardship a Good Time to Start a Business?
The initial reaction in times of economic hardship is to buckle down and hoard money. So, many would not even consider the idea of making an investment of your time and money to start a business may not even enter into the minds of people. . . unless they have been laid off and are forced to find ways to make money in a time when few companies are hiring. I have two friends- one who is a lawyer and one who is a banker who were recently laid off from their jobs. I helped both of them to start a “side” business while they engage in their job seeking effort. The interesting thing is in the 4 to 6 weeks of starting a business, the entrepreneurial bug has hit them both. When you feel you have no choice but to find your own way to make money, you would be surprised at how effective you can be as an entrepreneur. One friend is now focusing entirely on his new consulting business. Corporate America is a tough place to depend on for feeding your family and as you can see corporations can turn o
