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April 27, 2020
Dozens of famous companies launched during down economic periods, from The Walt Disney Company to FedEx and beyond. If you’re on the fence about whether it might be a good time to launch a business, consider these five reasons why it might be beneficial to consider it.
Reduced competitive activity during a recession provides opportunities to have more impactful product launches. Firms that prepare comprehensive plans for their product marketing, intensify R&D activities and upgrade their products for the beginning of economic recovery can enjoy the prime-mover advantage.
A recession creates opportunity for entrepreneurs to come up with new tools and services that solve real problems that are going on in the world. Things that save consumers money and immediately address crises make their lives easier. Delivering such innovation will enable a business to grow and scale, even through tough times.
During a recession, a reduced hiring volume in the economy at large will allow startups to hire top talent, often at a lower budget. With fewer companies hiring staff members, you will have less competition when working to get an interview with a prime candidate.
Smart investors understand that a recession is a good time to invest in a business that is serving the current demands of the marketplace, or following new trends. You might not see as many exits taking place, but fewer launches taking place could allow you to find just the right investor seeking a partnership.
Startups can buy major resources by taking advantage of sale prices on the materials and services they need to launch. Everyone from manufacturers to marketers will be likely to discuss special recession pricing, which could allow you to launch with a lower budget than you would have during a strong economic period.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
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