MBA2265 Q&A Wednesday: Is a recession a bad time to start a business?
Description
Times are tough. Inflation, continuing supply chain issues, and price gouging are on the rise. Recessions are natural and inevitable — but should you wait them out before starting your own business?
Spoiler alert: no.
It’s Q&A Wednesday, and we’ve got a listener with a great business idea. But they’re worried about the timing. Is it smart to get into business when businesses (and consumers) are struggling? Is it better to wait a year or more and get started when people are spending more?
Again…no.
Today, we explain why it’s not only ok to start a business in a recession, it’s smart! Recessions aren’t pretty. But like every crisis, they present unique opportunities. And the longer you wait to start a business, the more time you’ve lost to develop it.
We’ll explain in detail in the episode. Click Play!
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