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54 Comments
- DanielShinall, on 03/17/2009, -1/+381. Everything is cheaper.
2. You can hire more and better-qualified people.
3. People are looking to change suppliers.
4. Ownership equals tax incentives.
5. Family and friends don't want to (or can't) invest more money into the stock or real estate markets.
6. Suppliers are giving better credit.
7. You can get good PR by showing you are going against the trend.
8. You can buy everything you need at auction.
9. You can find great "low money" or "no money" down deals.
10. You've lost your job, and you have to do something. - amish4play, on 03/18/2009, -2/+23Top #1 reason you can't start a business in a recession: You don't have money.
- inactive, on 03/18/2009, -2/+12You had me at 10!
- idavidcrockett, on 03/18/2009, -0/+6the internet is free. my first website earned $50 a day and was hosted on a LAMP server that cost $3 a month. a few months later it made $3k a day on a LAMP server that cost $400 a month. It wouldn't have been possible without the open source community.
- akademikshock, on 03/18/2009, -1/+7Because gee.. that extra 3% in taxable revenue if you NET more than 250k after tax deductible pay outs to employees and their benefits might absolutely break you.
- SuperSemper, on 03/17/2009, -1/+6I believe we will find more entrepreneurs and small startups in this economy. But it is the type of business that yields the most importance.
- FriedTurkey, on 03/18/2009, -1/+6The only problem is banks aren't loaning money right now. It is hard to start a business without borrowing capital unless you were born rich like Donald Trump.
- inactive, on 03/18/2009, -0/+4I think the Donald way is to hire a bunch of contractors with no intention of ever paying them.
- screwy3333, on 03/18/2009, -0/+4# 11. Schlitz tastes better during a recession
- rd1010, on 03/18/2009, -0/+4I agree... I have started my web development business lately and I am getting some talented progammers rather cheaply as well as 3D designers.
- cubicledrone, on 03/18/2009, -0/+3Americans are a little tired after ending up with a handful of ***** after investing in a college education and working their way through the clogged toilet of the American workplace.
- fuzzymuzzy, on 03/18/2009, -0/+3Dugg for the photo of the guy who wrote the article, what a hairdoo
- viserov, on 03/18/2009, -0/+3Nice generalizations there.
- drone8823, on 03/18/2009, -0/+3Adversity breeds chance takers
If you only do what you know and feels safe, we would all be throwing rocks in the rift valley
Go for it!!!! - michaelrsa, on 03/18/2009, -0/+3But this isn't just about creating a website, it's about all types of small businesses. I was referring to businesses that create a tangible product. No knock against websites; I'm on Digg, so I can appreciate the effort taken to make a good website for profit.
- byronne, on 03/18/2009, -0/+3Dude, don't ever use the non-word 'irregardless' in your pitch. Won't go in your favor.
- Charlotte_Web, on 03/18/2009, -0/+2If you start a business right now, and you aren't doing something totally unique, then it pretty much comes down to "who you know". And a lot of people are better connected than they think.
When I started my business, I fumbled around trying to pick up clients here and there, and then found my Big Client who pretty much funded me through the next two years. And I found that person through a social group I had been a member of for years. - jfreeman, on 03/19/2009, -0/+2Neither a borrower, nor a lender, be (among friends and family).
- idavidcrockett, on 03/18/2009, -0/+2"You can't just pull an idea out of your ass and expect to run with it."
You can if you are building a website, e.g. Hot or Not, Plenty of Fish, Facebook.
"You need to research the hell out of everything before you even consider starting a business."
Wrong if you are building a website. The best way to start web app is to keep your day job and work on the site in your free time. Do not waste time on research. Just build a website and see what happens. Look at Zuckerberg. He created Synapse and Facebook in his free time, just for fun, without serious research.
http://www.thecrimson.com/printerfriendly.aspx?ref ... - tgc1, on 03/18/2009, -0/+2As a business owner/entrepreneur. Just let me say, it's a ***** ton harder than it looks. Do your homework. If you don't know anything about business, you will fail, at least take some basic business courses before you start (cheap ones at a community college or something, i'm not talking about going to Harvard here). Failing is part of succeeding. You have to be self motivated, nobody is going to take you by the hand and explain things to you. If you screw up, you don't get paid. If you don't know how to carry out transactions properly, you don't get paid. Let other people take advantage of you, you don't get paid. If you like having a paycheck every week or every other week, business is not for you (unless you're selling retail, which means you're looking at trying to break beyond even every month to keep the lights on and the store open).
- brundlefly76, on 03/18/2009, -0/+2The downside is that if you have never been in business before, starting one right now might be so disheartening you throw in the towel and never want to go into business again.
I am self-employed, have been for about 7 years, and this is one of those periods you 'prepare for' but suck all of the fun out of being self-employed. These are the days when having a boring 9-5 job with good pay and benefits sounds incredibly awesome. - msflowers, on 03/18/2009, -0/+2It is def harder than it seems. BUT you can make it. Why not take a chance? If you are out of a job already then why not? You do not have to buy stock, have a retail location, etc. You can make it work without a course- but you do have to have some common sense.
But you are so right- there is no hand holding. You do it yourself or figure it out fast. I think we are going to see a lot of businesses opening up soon. - snogye, on 03/18/2009, -0/+2I'm going to charge money for air. Costs even less in bulk.
- GalacticRerun, on 03/18/2009, -0/+1I'll take ten!
- inactive, on 03/19/2009, -0/+1jesus...what type of website did you own?
- enzomedici, on 03/18/2009, -1/+2Ask for a bailout.
- purzzzell, on 03/19/2009, -0/+1Check out my eBay store - www.YourGameStore.net
Then again, I have a marketing degree and have wasted years playing video games, so I just had to combine the two. - pred4tor, on 03/18/2009, -1/+2Top 1000 reasons not to start a business in a recession?
- mkmega, on 03/18/2009, -1/+2Now only if I had a ton of money for the start up costs.
- KarinAnna, on 07/23/2009, -0/+1Barcelona is a great city for startups, even during recession! check this out http://digg.com/travel_places/Barcelona_a_hotbed_f ...
- PhilHogan, on 08/31/2009, -0/+1Good Stuff
- GalacticRerun, on 03/18/2009, -0/+1But I've read of plenty of entrepreneurs who've known they don't have the knowledge and put down the fact that they didn't know is what helped them succeed. They say if they'd have known more they wouldn't have done it for fear of failure. Instead they just went for it.
- phlux, on 03/18/2009, -0/+1I am in the process of starting a company, invested some funds into it - have a prototype (medical application) with server with live demo. Preparing presentation - and soon seeking funds....
I am confident there is plenty of money with the right model and a solid idea. I am actually not worried about being able to get money -- I AM worried that the whole economy will collapse due to bailouts and AIG. I worry that I wont be given a chance to live long (anthropomorphizing my fledgling startup, not actually referring to my personal mortality)...
or maybe I use the bailouts as a lesson and use venture funds for my own personal Armageddon Survival kit! - inactive, on 06/01/2009, -0/+111. Cause Stone Cold Said So!
- lenenterprise, on 05/26/2009, -0/+1Don't forget to be unique in you business! make sure you have a niche! Just because you build it. That doesn't mean they will come. most Businesses fails within 3-5 years. make sure you have a business plan.
Larkland
Len Enterprise - Len Essentials - idavidcrockett, on 03/18/2009, -0/+1+1
- danpena, on 08/20/2009, -0/+0It certainly is a great time to start a business. So many opporunities out there. I can teach you how http://danpena.com
- davechua, on 03/18/2009, -1/+1If you fail terribly you should give yourself a bonus!
Oh wait.. - americanoboy, on 03/18/2009, -1/+1#11. Can't get funding because banks aren't loaning *****.
No wait... how does this work again? - inactive, on 03/24/2009, -0/+0come in my site:
http://travel-lets-go.blogspot.com/ - Angstcorner, on 03/30/2009, -0/+0Interesting!You can also visit www.angstcorner.com,a website for people affected by recession.
- EMGroup, on 03/18/2009, -0/+0You never know, by the time the recession ends, your company could be the next big thing!
- haydesigner, on 03/18/2009, -2/+2No, it is: You don't have a real idea.
- Zeoliter, on 03/19/2009, -0/+0Current climate is excellent for those with online businesses. More lay offs when more people at home on the computer. :)
- phramus, on 03/18/2009, -1/+0Slits?
- cubicledrone, on 03/18/2009, -1/+0The only reason that matters is that American "employers" don't want to hire you.
- michaelrsa, on 03/18/2009, -3/+2Fine, but you need the experience and schooling. Not many people can just start their own business with no formal business training and expect it succeed. You can't just pull an idea out of your ass and expect to run with it. You need to research the hell out of everything before you even consider starting a business.
Take this list with a grain of salt. - ligyron, on 03/18/2009, -3/+1Nothing else to see here, people. Move along
- thehuntedpossum, on 03/18/2009, -3/+1I felt like starting a corporation, it didn't really have anything to do with the economy or any incentives flowing from that. Irregardless, it is comforting that there are things going in my favor.
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