An article from Scott Cooney (author of Build a Green Small Business: Profitable Ways to Become an Ecopreneur (McGraw-Hill)). He hopes that someday the green economy will simply be referred to as…the economy.
While counterintuitive, a recession is actually a terrific time to start a business. Sure, credit is tight, and venture capital is definitely hard to come by, so startup ideas requiring large amounts of up-front capital are perhaps best left to the drawing board for the moment. But for many entrepreneurs with a dream, startup capital requirements are small, and other elements of the economic outlook are very favorable.
As far as timing, for most businesses, it simply takes time for their product, service, or brand to become recognized, trusted, and sought after. Estimates vary widely, but it is simply a truth that average customers have to see your product or company several times before they make a purchase. This makes a recession a great time to get your name out there while most other companies are cutting back and the competition for people’s attention is less. Your company will be in good shape when the economy rebounds.
So while recessions can be a good time, and historically have been a good time for businesses to get their start, this particular recession is a great time to start a green business. Here’s why . . .
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