West Entrepreneur Forum
login signup






Reasons Why Recession Is The Best Time To Start A Business

  • Jan 2018
  • startup_tips

  • Amidst this recession facing Nations in Different continents of the world (Nigeria not left out), many have turn prophet and future forecasters, the only problem is that the prophecy negativity and forecast doom. They waste their time naming and numbering the different problems and challenges and fail to recognize the opportunities – they fail to recognize that the economic recession is a fertile ground and it’s the best time to start a business. I have researched and Looked through history, most renounced business of our time all started during an economic crisis.
    I quote the writing of Robert T. Kiyosaki in his book – The Business of The 21St Century chapter 2.
    [b][i]“On July 13, 2009, TIME magazine ran a piece on page 2 they called “10 Questions for Robert JKiyosaki.” One of the questions asked of me was this: “Are there opportunities to create new companies in this turbulent economy?” “Are you kidding?!” was my first thought.

    Here is how I answered: This is the best time. When times are bad is when the real entrepreneurs emerge. Entrepreneurs don’t really care if the market’s up or down. They’re creating better products and better processes.

    So when somebody says, “Oh, there’s less opportunity now,” it's because they’re losers. You’ve heard an awful lot of bad news about the economy.

    Ready for the good news? Actually, the bad news is the good news. I will tell you the same thing I told TIME Magazine. A Recession is the best time to start your own business. When the economy slows down, entrepreneurialism heats up like a stoked wood stove in a cold winter.

    Q: what do Microsoft and Disney empires have in common, besides the fact that they are both hugely successful billion-dollar business that has become household names.

    A: they were both launched during a recession. In fact, more than half the corporations that make up the Dow Jones Industrial Average got their starts during a recession.

    Why? Simple: in times uncertainty. People get creative. They break out of their comfort zones and take initiative to help make end meet. It’s a matter of a good, of fashioned American entrepreneurialism at its best.

    When the going gets tough the tough get going. For one thing, the market for a new opportunity is ripe during tough economic times. Five years ago, when housing values were soaring the credit was available everywhere, nobody was hungry. People’s bellies were full, they felt safe, and few were looking for any alternative means of income.

    Employees weren’t worried about the financial stability of their employers whether a pink slip might be in their future. But now that layoffs are rampant and everyone is worried about what the future holds, millions of people are soberly reevaluating their finances and realizing that if they want to have a secure future they can count on, they’re going to have to come up with a plan B. people today are hungrier than ever to earn extra money, and because of that, they are more receptive and more inclined to open their minds to new avenues.”[/b][/i]

    Conclusively, stop Complaining and start doing something, this is the time to act, it’s the best time to start working toward starting your business- an Economic recession is the best time to start a business.





West EntrepreneurForum

WESTENTREPRENEUR is your number one Forum for practical profitable business ideas and lucrative investment opportunity for African's at home and in the diaspora.

  • Terms of Use
  • Privacy policy
  • Help and support
  • Forum rules
  • Advertise