With the R word now outed by the Government and by The Bank of England what options are open to entrepreneurs?

 

Someone once said to me that starting a business in a recession is a perfect time. I'm not convinced it's a perfect time but I do tend to think that in times of recession entrepreneurs can do well. At the risk of sounding like my half full glass is overflowing here are some reasons to be cheerful (does any one else miss Ian Dury?).

 

1. For a start up it takes time to get sales regardless of how booming or busting the economy is. However, early adopters tend to stick around regardless of the state of the world so the initial target market is still there.

 

2. Business customers may well be more open to new ideas in times of recession. In boom times business does not need to take risks with new products or services - they simply keep selling whatever has been selling. But when sales slump they need to get innovative and find new ways to generate revenues.

 

3. Your competition will fail. Perhaps a little bleak but as businesses fail you can position your business to take up the slack. But be prepared to revise your own ideas to take best advantage.

 

So Reasons To Be Cheerful 1-2-3. But if your still concerned .... why don't you get back into bed, why don't you get back into bed, why don't you get back into bed 1 2 3.