Are You Crazy to Start a Business in This Economy?
Written by Dan Citrenbaum
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“Start a business in this economy? Are you crazy?”
Maybe not so crazy. For the moment, set aside the fact that traditional employment options might be limited because of this economy. (It isn’t a news flash that the job market is tight.) Instead, let’s focus on one question: Is a business started today likely to succeed or to fail?
It all depends on the kind of business. This might not be a great time to start a business selling luxury goods. But aren’t there other options? What about businesses selling necessities? Better yet, what about businesses selling necessities at a good value? Maybe this is a great time for that kind of business.
Tutoring services, for example, are famously steady in an off economy. No matter how tight money might be, many parents will make it a priority to see that their children have the resources needed to succeed in school.