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Businesses that open their doors during a recession may be thought of as pushing their luck. In reality, those entrepreneurs who jump in when times are tough tend to do much better than their counterparts who start their companies in times of plenty, if they find the right market.
An example of this is George Weston, who started one of the biggest food retailing companies ever founded in Canada. Even in a recession, or a depression people have to eat. Weston started his company during the Great Depression of the 1930s.
Even with the proven track record of certain business models in slow times, banks are more cautious about lending funds and investing in new ideas. They caution those venturing into business to work at controlling their costs and to concentrate on goods and service items, such as food and clothing. Keep these two important concepts in mind and most businesses will be able to weather an economic storm or two.
The monetary storm of 2009 was not as bad as the gale of the 1930s but still worse than anything seen in Canada for at least 25 years. But, as with all storms, there is a period of clean-up before things get back on an even keel.
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