Can you start a business in this bad economy??

United States
February 8, 2009 9:17am CST
would it be a good idea to start a business in this bad economy?? How can we get loans and such. I am doing some small stuff out of my home, doing some sewing to get ready for some spring craft shows, but I wonder about other types of businesses.
3 people like this
9 responses
@xParanoiax (6997)
• United States
24 Feb 09
For SOME businesses it's the opportune time to do so. I'm going to be trying to start a micro-farm business -- that is, I'm going to be growing fruits and vegetables on our a-little-over-an-acre scrap 'o land and indoors, making use of every space, for every plant and seed we got for one to three dollars at most (some of the trees were more expensive, and only here due to my Mother's dear heart). Though some of the things we got for free (like few year old flower seeds packets and an assortment of tomato seeds no one wanted)...so in the end, our start up costs have been relatively low for a small business. We'll be selling what we don't freeze, can, dry, and eat ourselves...and the leftovers we'll be giving away to people we know who could use them...and local charities which have hit hard times as well. I'm considering, in the autumn...of selling baked goods in preserves, since there will be less fresh to sell and I might be able to spread of it out through the winter til the following spring brings new fresh produce to sell. It's a ton of work, but it's why I'm thankful I grew up on a farm and have family to help me. It's a group-effort, and it's not exactly unique for our area in rural Ohio...tons of urban farms have been created, victory gardens, and lots of not-so-serious farms have poppped up to sell and barter produce 'round these parts, creating a blossom of farmer's markets and roadside stands. FOOD, as they say, is one of the few things that stays popular through recessions, depressions, and catastrophes. And small time (organic 'cause it's cheaper) farm operations aren't the only trick of the new emerging food businesses either...hydroponics, vertical farming, and other new ways of growing food -- especially for cities -- has slowly been popping up along with this really quickly emerging trend. It makes me quite happy to be a part of this movement, because not only does it provide alot of us means of making money that we normally wouldn't have otherwise had...it also gives us an opportunity to help our neighbor by proviiding cheaper food, many of us will barter as easily as we'll charge for things...and even more of us will give a basketful of tomatos to the hurting family next door.
@Scagie (49)
• United States
21 Feb 09
As the others above me said yes right now would be a great time to start it however you should focus on selling ideal items such as everyday used products, if you don't you will not generate as much revenue, people really aren't looking for anything they don't need nowadays.
• Hong Kong
21 Feb 09
ya, bad economy. but i think it's also the time for people to have some relaxation. I think it's a good idea to run a website in this bad economy. The website should be related to some relaxation thing, such as comic, cartoons, animes or online games etc. I am just running an anime site, and there are many people to watch cartoons every day. Traffic can generate revenue for us. I think it could be called a kind of business. have a nice day!
@villageanne (8554)
• United States
21 Feb 09
In our area people are beginning to shop more from local craftsman. They are worried about the economy and this is away to keep the money local. I know we are. For Christmas we made most of our gifts and they were really nice too. Everyone loved them. It saved us so much money because we have such large families.
• United States
14 Feb 09
crafting bags - selling can be easy
I am hearing Avon is doing great these days. That is one business I want to do again. I am making my bags for the flea markets this spring. So I am just hoping that I can get a few done. I have neighbors who want bags in the building. Good luck
@jayyerex (224)
• Canada
14 Feb 09
Absolutely, I think now is the perfect time. Especially in the network marketing arena. There is a big boom going on right now in internet business. I think if you are interested in starting something online, now is the time. If you are good at talking to people, if you can teach and be taught then you can make some really good money for very little output. If you think about traditional business you need to think about things like overhead, product, product storage, shipping, employees. All kinds of things to consider. With an internet business the only thing you need to think about is marketing, an internet connection and phone and membership fees. Altogether much less start up than any traditinal business. I hope this helps. Jay
@dovinea (80)
• United States
13 Feb 09
Believe it or not, right now would be an ideal time to start a business. You just need to focus on an idea that SAVES people money. For instance, you mentioned you can sew, so how about offering a mending and alterations service? Many people are going to be willing to repair or resize items that they already have, rather than spending money on new clothing. Offer a special for spring/summer to make custom jeans shorts out of a pair of jeans they already own, etc.....you get the idea!
@Emmamoon (23)
• China
9 Feb 09
Hi!my friend I can tell you that you still can start a business as long as you find a right way.Do you have ever thought about to start your own business?I mean not the traditional business,I mean a special business.Now in this bad economy,you may hard to run a traditional business good.But if you do direct selling,you may probablely earn a lot.You can try to do Amway.Hope I can give you a good suggestion. Best wishes! Enjoy mylotting!
@vishwaskg (514)
• India
8 Feb 09
This would be the best time to do business, because it will give all the learning to do ,and since any business is bad at this time ,its sure is a good time to have the learning curve right now,Also there are lot of loans being offered at relatively low rates to allow investments to spring back . But before starting do make some research on your business and meet people of the business you own. All the best in your Business Vishwas