Why Start A Business During A Recession?
Some may think starting a business during a recession is a mistake, but there are opportunities to be explored. The current recession has left many small business owners reeling with uncertainty. Should they continue ahead with their business plan regardless, or should they simply abandon their dream and get a job?
Would you ever consider launching or growing a business in the midst of the Great Recession? Probably not, some would applaud your courage and others might think you had a few loose screws. And yet economic downturns have often been fertile ground for innovation and entrepreneurship. More than half the companies on the 2009 Fortune 500 list were launched during downturns, according to recent research by the Kauffman Foundation.
Starting A Business Affair Magazine in a recession. Why now?
On the face of it, starting a small business magazine in the throws of a recession might seem crazy. But there is a method to our madness, we see the possibilities for helping local small business owners to be successful and even thrive in the current recession, and continue to help them manage their growth when the good times come again.
We believe the secret is to remember that, during an economic downturn, consumers will think hard about what products they buy. That’s why we decided to distribute A Business Affair Magazine FREE of charge. This ensures that the local market will embrace the value and patronize the resources contained within its compelling covers.
2010 Small Business Forecast: “Its Not Over Yet”
Some economists say that the current recession may have ended in June, But that doesn’t mean it’s time to break out the champagne. The return of up-trending charts may sound like good news for the economy, but it could be at least a couple of years before growth picks up in earnest.
While past history has shown us that down markets do eventually end and prosperous times return, a business owner has to keep operating. With no economic relief in sight, at least for the short term, how do you keep your small business ahead of the curve?
Increase your marketing. Rather than cutting your marketing budget, this is the time to either increase marketing or, at minimum, hold it steady. If you’re like most small business owners, you need cash flow to get through a slow time – and marketing leads to sales. Consider more outreach to customers using targeted marketing mediums like A BUSINESS AFFAIR MAGAZINE and its web sites to promote your business and services to the local markets. Additionally, use the information and resources contained in each addition to learn about creative ways to use the internet, phone, mail campaigns, and cutting edge technologies to increase your bottom line.
Keep your eye on the future. Economic cycles are part of reality. What goes down will eventually go up. Remember we’re in this together so keep your attitude positive and your eye focused on the future.
Barbara Tansky, Editor