It’s a difficult time for existing business owners right now.
The fed raised rates in September to a new target range of 3.75 to 4.00%. Mortgage rates hit seven percent in October. The Sept CPI report shows that inflation persists everywhere, in food, energy, and prices. Mega companies such as Microsoft confirmed 1,000 layoffs. The fed plans to raise again in November. Everything points to a recession ahead. Perhaps the rececssion has already come.
So, why is now a good time to start a new business? Although counter-intiutive at first, the fact is, recessions offer business opportunities not found under normal circumstances.
Competition goes down during a recession
In a recession, everyone is playing defense. Businesses are struggling to stay afloat to keep sales going, to keep employees, and “pivot” to adjust to an environment with less demand. No one will pay attention to a competitor that has just started. Yet, this is exactly why a new business started during this time falls under the radar. When the economy recovers, your business will have been established for a period of time.
Costs to start a business tend to go down during a Recession
Costs tend to go down during a recession as everything becomes cheaper. Now, this recession is very different in the sense that materials and resource prices are going up due to inflation. However, if other companies are laying off employees, this means your pool of candidates has increased. You won’t have to sacrifice as much to hire a candidate. I remember in 2021, many of the candidates I interviewed had multiple offers. They have the upper hand in negotiation and ask for perks such as better benefits, full time remote work and sign on bonuses. Now, the tables have turned and candidates who are laid off, will be more willing to accept a normal position and fair pay.
Itís nearly impossible to find well-informed people for this topic, but you seem like you know what youíre talking about! Thanks
Untuk mereka yang ingin menguruskan badan tanpa diet, pola hidup sehat melalui olahraga teratur, tidur yang cukup, makan seimbang, hingga teknik mindfulness bisa menjadi solusi. Jangan lupakan juga faktor stres dan pentingnya hidrasi. Akar rambut yang kuat adalah kunci untuk mencegah kerontokan, dan ini bisa didukung dengan cara alami seperti menggunakan ramuan tradisional, minyak zaitun, makanan yang kaya nutrisi, pijat kepala, dan juga memperhatikan kebiasaan sehari-hari seperti penggunaan cat rambut.
May I simply say what a comfort to discover somebody who genuinely knows what they are talking about over the internet. You actually understand how to bring a problem to light and make it important. More people ought to check this out and understand this side of the story. I cant believe you arent more popular because you surely possess the gift.
Thanks.
Greetings! Very helpful advice in this particular article! It is the little changes that will make the largest changes. Many thanks for sharing!
I was excited to uncover this web site. I want to to thank you for your time for this wonderful read!! I definitely appreciated every bit of it and I have you book-marked to look at new things in your site.