5 Keys to Starting a Business in an Economic Crisis

Apr 25, 2016
Author: Ean Barnard

That last resort may be a great idea!

Many people think an economic downturn is a wrong time to start a business, but that's not always true. Don't despair over the news on the South African economic crisis. Plenty of companies around the world started during bad times, including General Electric, Walt Disney, Microsoft, FedEx, Virgin, and Google. These giants were originally started by a few people wondering how to turn a concept into a business and they weren’t preoccupied with economic circumstances. You might be familiar with a man who founded a record company in the teeth of the recession of the early 1970s and who expanded an airline carrier through the storms of the late 1980s, and who built a mobile carrier after the dot-com crash of the late 1990s? A man who believes that there are always opportunities that come with times of crisis. So without further ado, read on for insight on starting a business during a recession as shared by business mogul – Sir Richard Branson.

2. Ensure your business or idea has a place in the market

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